Connect to our Hunter based team in minutes during business hours.
The Mutual Bank Branches will be closed for the NSW Bank Holiday on Monday 4 August 2025. Our Contact Centre will be available from 10am - 4pm.
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
