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Regional First Home Buyer Guarantee

As a participant lender in the Australian Government’s Home Guarantee Scheme (HGS), G&C Mutual Bank is proud to help even more home buyers realise their home ownership dreams through the Regional First Home Buyer Guarantee (RFHBG).


From 1 July 2025, 10,000 Regional First Home Buyer Guarantee places are available to eligible regional home buyers with a deposit of between 5 and 20 per cent of the property value.


The Regional First Home Buyer Guarantee can be used for regional individual or joint applicants to build a new home or purchase an existing home in a regional area, without needing to pay for Lenders Mortgage Insurance (LMI) or rely on a guarantor. For a property to be eligible, it must be a residential property as defined by the program. Home buyers must have lived (or at least one applicant if applying as joint applicants) in the regional area or adjacent regional area they are purchasing in for the preceding 12-month period to the date they execute the home loan agreement. Employees required by their employer to relocate may be eligible for an exemption and should check with us, as a Participating Lender if this applies.

 

The following eligibility criteria apply:

  • Applying as an individual or joint applicants.
  • Australian citizens or permanent residents who are at least 18 years of age.
  • A taxable income of up to $125,000 for individuals or $200,000 for joint applicants as shown on your ATO Notice/s of Assessment.
  • Applicants (or at least one applicant if applying as joint applicants) must have lived in the regional area or adjacent regional area they are purchasing in for the preceding 12-month period to the date they execute the home loan agreement.
  • If the employer you’ve been with for at least 12 months has required you to relocate, you may still be eligible if you lived in the regional area of purchase, or an adjacent regional area, for part of the prior 12-month period, and provided the relocation prevented you from meeting the full 12-month requirement.
  • You must be an owner occupier of the property you are purchasing.
  • You must be first home buyers or previous home owners who haven’t owned a property in Australia in the past 10 years.

 

To find out more, including your eligibility, refer to Housing Australia's website.

Regional First Home Buyer Guarantee FAQ's:

The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to help eligible regional home buyers to buy a home sooner, in a regional area. It is administered by the Housing Australia on behalf of the Australian Government.  


Under the Regional First Home Buyer Guarantee, part of an eligible regional buyer’s home loan from a participating lender is guaranteed by Housing Australia. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance. 

Access Housing Australia's Eligibility Tool to help identify which Guarantee you may be eligible for. 


If you're ineligible for the Home Guarantee Scheme, we'll work with you to explore other options to help you get into your first home.

Maximum purchase prices (property price caps set by Government legislation) are applicable for eligible properties purchased under the Home Guarantee Scheme (HGS).

The maximum property price varies depending on your location. Use Housing Australia's Property Price Cap Tool to check the property price threshold for the location in which you are looking to purchase. 

For the purposes of the Regional First Home Buyer Guarantee, a regional area is defined as: 

  • the Statistical Area Level 4 (ASGS SA4 2016) areas in a State or the Northern Territory that are not a capital city of that State or Territory; and 
  • Norfolk Island; or the Territories of Jervis Bay, Christmas Island or Cocos (Keeling) Islands; as defined in the version published by The Australian Bureau of Statistics (ABS) in July 2016. 


The greater capital city areas of each state and the Northern Territory; and the entire Australian Capital Territory are excluded from the Regional First Home Buyer Guarantee. Home buyers in these areas may be eligible for the First Home Guarantee or Family Home Guarantee. 


Access Housing Australia's Regional Checker which allows home buyers to enter the suburb (or postcode) of their current home and the suburb (or postcode) they would like to purchase in, so they can confirm if they would be eligible for the Regional First Home Buyer Guarantee. 

Reservations for the Regional First Home Buyer Guarantee through G&C Mutual Bank are available now. Places are limited, so contact us for more information.

We'll help you navigate the process, and submit a request to reserve a place on your behalf.


Should you have any queries, we're ready to help you via our online home loan application, online enquiry form, by phone on 1300 364 400, in person at one of our Service Centres, or connect with a Mobile Lender to discuss your financial circumstances at a time and place that suits you. 

First Home Owner Grant: The First Home Owner Grant is a government scheme providing a one-off payment for eligible first home buyers who purchase or build a residential property to live in.

Stamp duty concessions: Stamp duty is a tax levied by state or territory governments on certain purchases, including buying a home, land, or investment property. Depending on your state or territory, you may be eligible for concessions as a first home buyer.

The First Home Super Saver Scheme: The First Home Super Saver Scheme allows you to save money for your first home using your superannuation fund. This scheme, run by the Australian Taxation Office (ATO), helps first home buyers save faster by allowing them to withdraw voluntary super contributions they’ve made to their super.

Enquire about the Regional First Home Buyer Guarantee today

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Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review G&C Mutual Bank's Terms and Conditions before acquiring the product.

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