Find out if you're eligible

Together with our partners at Resolve Finance, we will guide you through the process

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The Regional First Home Buyer Guarantee makes homeownership in country Victoria more attainable.

Homeownership in Regional Victoria is now more within reach, thanks to the Regional First Home Buyer Guarantee (RFHBG), part of the Australian Government’s Home Guarantee Scheme (HGS).

This initiative is tailored to help first-time buyers overcome the challenges of purchasing their first home in regional areas and complements other available home buyer programs or grants.

Enquire now 
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Deposit

5% Minimum deposit required

Places Available

10,000 places available for FY 2024-25

Applicants

Individual and joint applicants

Price Caps

Maximum purchase prices apply. See price caps

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Unlock your dream home in Regional Victoria

If the idea of owning a home in the charming settings of Regional Victoria has been on your mind, this is your chance. Thanks to recent government initiatives such as the Regional First Home Buyer Guarantee, eligible home buyers in Regional Victoria can now step onto the property ladder with greater ease.

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What is the Regional First Home Buyer Guarantee?

The Regional First Home Buyer Guarantee aims to make home ownership more accessible for first-time buyers in regional Victoria. With 10,000 places available from 1st July 2024 to 30th June 2025, this initiative offers a significant opportunity to realize your dream of owning a home.

Eligible home buyers in Melbourne and surrounding areas can purchase a home with a deposit as low as 5%*, benefiting from the added advantage of not having to pay Lenders Mortgage Insurance (LMI).

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How the Regional First Home Buyer Guarantee Can Help You

1. Lower Deposit Requirements

The Regional First Home Buyer Guarantee reduces the savings needed for a deposit. While many buyers think a 20% deposit is necessary, eligible participants only need to provide 5%.

With the Government guaranteeing up to 15% of the home loan, buyers in regional areas become more attractive to lenders, opening the door to better loan options and easier access to financing.

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2. No Need for Lenders Mortgage Insurance (LMI)

For many home buyers in regional areas, a deposit under 20% typically requires paying Lenders Mortgage Insurance (LMI). However, participants in the Regional First Home Buyer Guarantee are exempt from this requirement, helping to lower the overall cost of purchasing a home.

3. Enhanced Appeal to Lenders

With up to 15% of the home loan guaranteed by the Australian Government, eligible home buyers in regional areas become more attractive to lenders. This can result in better loan options and easier access to financing, ultimately enhancing financial security for those looking to purchase a home.

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What’s New from 1st July 2024?

Expanded Eligibility

The Federal Government has made it easier for Australians to access the property market. The Regional First Home Buyer Guarantee is available to not only first-time buyers but also individuals who have not owned a property in the last 10 years. Whether you are re-entering the market or buying your first home, this initiative presents a golden opportunity.

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Joint Applications

You can now team up with friends, siblings, or other family members to apply for the Regional First Home Buyer Guarantee. This new flexibility allows you to pool your resources and purchase a home together, making the dream of home ownership more achievable for all participants.

Special Opportunity for New Zealand Citizens

An exciting new addition to the Regional First Home Buyer Guarantee is the eligibility for New Zealand citizens holding a Special Category Visa Subclass 444 (SCV). This inclusion opens up new possibilities for SCV holders, provided all other eligibility criteria are met.

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Income and Property Value Limits

While this scheme offers fantastic opportunities, certain income and property value thresholds must be met. These limits may be subject to change, so staying updated is crucial.

Please note: income and property value limits apply and may be subject to change.

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Eligibility for the Regional First Home Buyer Guarantee

To check if you are eligible for the Regional First Home Buyer Guarantee, use the Housing Australia eligibility tool or by speaking with our finance partner, Resolve Finance..

Learn more

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How to apply for the Regional First Home Buyer Guarantee?

Our finance partner, Resolve Finance, can help you check your eligibility and guide you through the application process.

Take the first step toward building your new home with one of Melbourne’s most affordable home builders.

Contact us today, if you are interested in scheme eligibility and how to apply for the Regional First Home Buyer Guarantee support scheme (RFHBG).

Learn more

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Current eligibility criteria:

To apply for the RFHBG, home buyers must be:

  • applying as an individual or two joint applicants
  • an Australian citizen(s) or permanent resident(s)* at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
  • intending to be owner-occupiers of the purchased property
  • home buyers who have not previously owned, or had an interest in, a real property in Australia (this includes owning land only) or in the ten years prior to the date they execute their home loan.

For more information on eligibility requirements, click here.

Information on this page does not consider your personal needs and financial circumstances and you should consider whether it is appropriate for you. The Family Home Guarantee is administered by Housing Australia on behalf of the Australia Government. Customers must be eligible for finance, which is at the discretion of the authorised and participating lenders. To find out more click here. Please note this is a guide only, this information may be subject to change. All Financial services provided by Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN: 65 079 545 378 Australian Credit Licence No. 385487

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Why do so many Homebuyers Centre customers use Resolve Finance?

Since 1997, Resolve Finance are construction finance experts and have been proudly supporting homebuyers in Victoria, helping over 36,000 families build their dream homes. Their commitment extends beyond just home loans— offering a complete range of financial services. At Resolve Finance, they’re here to guide you every step of the way, making sure you have a trusted advisor by your side. Their goal is simple: to be your finance partner for life.

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Not eligible for the Regional First Home Buyer Guarantee? See what other grants you could be eligible for


Home Grants Resolve Finance Homebuyers Centre Home Builder Melbourne

Learn how you could get into your new home sooner

Thinking about buying your first home? We’ve got you covered with everything you need to know. From the First Home Owner Grant in Victoria to the Home Guarantee Schemes, this guide will walk you through all the essential details.

Learn more


First Home Guarantee (FHBG)*

If you’re considering becoming a homeowner in Melbourne and its surrounds, there’s never been a better time. Eligible home buyers in this area can now secure a property with a deposit as low as 5%*—and the best part? You won’t need to pay Lenders Mortgage Insurance.

Learn more


Family Home & Single Parent grants and schemes for homebuilding in Melbourne and Victoria

Family Home Guarantee (FHG)*

Eligible single parents or single legal guardians with at least one dependent child can now purchase a home with a deposit of as little as 2%* without paying Lenders’ Mortgage Insurance.

Learn more

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Frequently Asked Questions

The Regional First Home Buyers Grant in Victoria currently offers a substantial $20,000 to eligible first-time buyers purchasing a newly built home in a regional area. This financial boost is designed to make it easier for young professionals to enter the property market and establish their foundations in vibrant regional communities.

The key difference between the Regional First Home Buyers Grant (RFHBG) and the standard First Home Buyers Grant (FHBG) is the amount awarded and the location criteria. While the FHBG provides $10,000 for homes purchased across Victoria, the RFHBG offers a more generous $20,000 but is specifically for new properties in designated regional areas, enhancing affordability and encouraging growth in these communities.

The Regional First Home Buyers Grant (RFHBG) is available for a variety of regional areas within Victoria, supporting development and community growth. Eligible locations include towns and cities outside the Melbourne metropolitan area, such as Ballarat, Bendigo, Geelong, and Shepparton, among others. If you’re considering a move to one of these beautiful areas, the RFHBG could provide the financial assistance you need to take that exciting step.

Find out if you're eligible

Together with our partners at Resolve Finance, we will guide you through the process

By submitting this form you are consenting to receive marketing communications from Homebuyers Centre in future, on the understanding that you have read and agree to our Privacy and Data Collection Statement and that you can opt-out at any time.

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