Purchase a home in a regional area with a deposit as little as 5% with no cost of Lenders Mortgage Insurance.
The Regional First Home Buyer Guarantee is part of the Australian Government's Home Guarantee Scheme.
The Scheme supports eligible home buyers looking to purchase in regional areas.
With as little as 5% deposit, eligible buyers can purchase a home without paying Lenders Mortgage Insurance (LMI), helping reduce the upfront cost of buying a home.
The Regional First Home Buyer Scheme has an annual allocation of 10,000 places for the 2025/2026 financial year.
The Mutual Bank proudly supports regional Australians through this government initiative which is a part of the Home Guarantee Scheme.
You can find more information about the Regional First Home Buyer Guarantee on the Housing Australia website.
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.
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.
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.
Enjoy a low, variable interest rate for your property with no application fee and no annual fee.
A regional area is defined as the Australian Bureau of Statistics Statistical Area Level 4 (ASGS SA4 2016). These are areas in a state or the Northern Territory that are not a capital city. Also included are Norfolk Island; the Territories of Jervis Bay, Christmas Island or Cocos (Keeling) Islands.
The ACT and greater capital city areas of each state and the Northern Territory are excluded.
To confirm whether you live in a regional area and where you may be able to purchase, access the Regional Checker on the Housing Australia website.
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 buyers 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 Regional First Home Buyer Guarantee.
View the Regional First Home Buyer Guarantee Information Guide.
View more Frequently Asked Questions about the Regional First Home Buyer Guarantee
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Home Guarantee Scheme eligibility criteria apply. Eligibility criteria, terms, conditions, fees, and charges apply to all loans and are available on application. Issued by Maitland Mutual Limited trading as The Mutual Bank, ABN 94 087 651 983, AFSL / Australian credit licence 238139.
