2% home deposit scheme for single parents

Buying a home as a single parent might feel like a mountain to climb—but with the Family Home Guarantee, that mountain just got a whole lot smaller.

This government-backed initiative is designed to help single parents (or legal guardians) get into the property market with as little as a 2% deposit, without paying Lenders Mortgage Insurance (LMI). And it’s not just for first-home buyers—it's available even if you've owned a home before (as long as you don’t own one now).

Let’s break down what it is, who it’s for, and how you can apply.

About the scheme

The Family Home Guarantee (FHG) is a government scheme offering support to single parents or legal guardians with at least one dependent child. It helps eligible buyers purchase a home with just a 2% deposit, and the government guarantees the remaining 18% so that you don’t have to pay Lenders Mortgage Insurance—which could save you thousands!

Who’s eligible?

To qualify for the scheme, you need to:

Be applying as an individual
Be a single parent or legal guardian with at least one dependent
Be an Australian citizen or permanent resident
Be at least 18 years old
Earn less than $125,000 per year
Intend to live in the property you’re buying
Not currently own property at the time of settlement

Good to know: You don’t need to be a first-home buyer, but you can’t own another property when you buy.

Points to consider

Property price caps apply based on your location. Use the government postcode search tool to check what applies near you.

There are only 5,000 places available for this scheme each financial year—so acting early is a smart move.

You’ll need to apply through a participating lender or with help from a mortgage broker.

How we can help

Our team of lending specialists can walk you through the whole process. From checking your eligibility to applying for the Family Home Guarantee, we’re here to make it easy.

Ready to make a move?

Buying a home as a single parent shouldn’t be out of reach. With the right guidance and support, it doesn’t have to be. Try our low deposit checker or talk to us about your options—we’re here to help.