Single parents can apply with as little as 2% Deposit
Friday 02 July 21
From Thursday 1 July 2021, 10,000 Family Home Guarantees (FHG or Scheme) will be available to eligible single parents. Single parents may use the Family Home Guarantee to build a new home or buy an existing home with as little as a 2% deposit.
Both first home buyers and previous homeowners can apply to purchase an owner-occupied property as their principal residence.
- Applicants must be an eligible single parent with at least one dependent child.
- 2% deposit must be ‘genuine savings’
- There are no restrictions on prior home ownership, but applicants can’t currently own a home.
- Property must be the buyer’s primary place of residence.
- Limited to Australian Citizens, aged 18 or over with income of $125,000 or less as declared in their FY21 (ending 30 June 2021) income tax return.
- Contracts must be dated on or after 1 July 2021, except land contracts which may be dated at any time.
Applicants for the Family Home Guarantee must provide evidence of their marital status and that they have a dependant in addition to their FY21 ATO Notice of Assessment (NOA).
Acceptable evidence of a dependant includes:
- Dependant’s Australian Birth Certificate;
- Dependant’s Adoption Certificate;
- Consent or Parenting Order issued by the Family Court of Australia;
- Family Court Order (for agreements whereby another family member may now be responsible for the dependant and thereby being the adoptive parent, e.g. grandparent, aunt/uncle);
- Centrelink documentation addressed to the applicant showing they are receiving a benefit for a dependant or that details the care arrangement for the dependant (this should be paired with evidence of the dependants age should the documentation not have that detail).