Use the Housing Australia eligibility tool for a quick check to see which scheme you may qualify for.
Buy a home with a deposit as low as 2%
The Family Home Guarantee is part of the Australian Government's Home Guarantee Scheme.
The Family Home Guarantee supports single parents or single legal guardians of one or more dependent children, who meet eligibility criteria, to buy a home with as little as 2% deposit, without paying Lenders Mortgage Insurance (LMI).
For the 2025/2026 financial year, 5,000 places are available for the Family Home Guarantee.
The Mutual Bank is proud to participate in the Family Home Guarantee, providing more flexible pathways to home ownership for families.
You can find more information about the Family Home Guarantee on the Housing Australia website.
Package Home Loan
Our Package Home Loan offers a great rate, flexible features and valuable benefits for owner-occupied or investment properties, all for an annual package fee.
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2 Year Fixed, Owner OccupiedInterest rate4.94 % p.a.
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Comparison rate7.12 % p.a.
Features
Standard Home Loan
The simple solution for your owner occupied or investment property. It offers competitive interest rates and features to help you purchase, build or refinance your home sooner.
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3 Year Fixed, Owner OccupiedInterest rate5.04 % p.a.
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Comparison rate7.25 % p.a.
Features
Budget Home Loan
Enjoy a low, variable interest rate for your property with no application fee and no annual fee.
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Special Variable, Owner OccInterest rate5.49 % p.a.
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Comparison rate5.49 % p.a.
Features
Express Credit Facility
Maximum flexibility to access the equity in your home and make mortgage repayments at your convenience, up to your credit limit. It combines your home loan and everyday accounts into one, allowing you to pay your salary directly off your loan and access available equity to cover your everyday living expenses.
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Owner Occupied, Variable RateInterest rate8.14 % p.a.
Features
Family Home Guarantee FAQs
Maximum price caps apply and vary by location. Price caps are the same for all Guarantees. Both the purchase price and property value must not exceed the price cap for the property’s location. For new builds with land and a separate build contract, the combined land purchase price and build cost must also stay under the price cap.
For regional centres in NSW (for example Newcastle) the price cap is $900,000 and for other areas (for example Maitland) it is $750,000.
Home buyers can use the Postcode Search Tool on Housing Australia’s website to check the price cap for the location they want to buy in. The tool is only a guide – home buyers should confirm the price cap with our Lenders.
Lenders Mortgage Insurance (LMI) is a one-off premium added to your home loan if you do not have a 20% deposit. It is an insurance policy which covers the lender against the losses they may suffer if the borrower can no longer meet loan repayments. If a borrower defaults on their mortgage, LMI means the lender can recover what is owed to them by repossessing the property the home loan is tied to. If the property’s value has fallen, the lender can suffer a loss. This is the risk LMI covers.
Yes. Eligible first home buyer single parents may also be able to take advantage of the Australian Government’s First Home Super Saver Scheme and may also be eligible for other NSW Government grants and concessions.
You can visit the Housing Australia website to find out more about the First Home Guarantee.
View the Family Home Guarantee Information Guide.
View more Frequently Asked Questions about the Family Home Guarantee
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