Exciting news for first home buyers nationwide, the updated First Home Guarantee scheme is officially live! This government-backed initiative has been redesigned to make entering the property market faster, more accessible, and less stressful for aspiring homeowners.
What has changed?
The new scheme includes several major updates:
- Buy with just a 5% deposit: You can now step into homeownership sooner than ever.
- Reduced or no Lenders’ Mortgage Insurance (LMI): The government guarantee removes or reduces the need for LMI, saving thousands in upfront costs.
- More Australians eligible: Income caps and location limits have been removed, meaning more people can take advantage of this opportunity.
- Higher property price caps: You have a wider choice of homes, whether you’re looking in the city or regional areas.
These changes make it an ideal time for young professionals, couples, and small families particularly those aged 25–40, balancing careers, savings, and future planning, to finally secure their first home.
Why this matters for buyers in regional areas
For buyers in regional Australia, this scheme opens doors that were previously out of reach. Detached houses and larger properties that suit growing families are now more attainable. Combined with expert guidance, this means you can make confident decisions and avoid costly mistakes.
According to CoreLogic data, the median house price in regional NSW continues to rise, making early action crucial for first home buyers wanting to enter the market with favourable finance options.
How Panache Financial can help
Navigating government schemes, loan products, and property prices can feel overwhelming. That’s where Panache Financial comes in. Our team helps first home buyers:
- Assess eligibility for the First Home Guarantee
- Choose the right lender and loan product
- Maximise savings on deposits and LMI
- Step confidently into homeownership with expert support
Whether you’re in Goulburn, regional NSW, or anywhere else in Australia, we’ll guide you every step of the way to turn your first home dream into reality.
Take the next step
The First Home Guarantee scheme is live today, don’t wait! Reach out to our award-winning team at Panache Financial and explore your options.