Family Home Guarantee Geelong

By Andrew Paterson

The Family Home Guarantee is no longer a separate scheme. Since 1 October 2025 it has been part of the Australian Government 5% Deposit Scheme, which Housing Australia runs.

Single parents and legal guardians can still buy a home with a 2% deposit and no lenders mortgage insurance (LMI). The government guarantees part of the loan to the lender.

What the Single Parent Option Offers

• Minimum deposit: 2%, with no LMI.
• Income limit: none. Income limits were removed on 1 October 2025.
• Places: no annual cap and no waiting list.
• Price caps: $950,000 in Geelong and Melbourne and $650,000 in the rest of Victoria.

Who Can Apply

• You are a single parent or legal guardian and you apply on your own. Joint applications are not allowed.
• You are an Australian citizen or permanent resident and at least 18 years old.
• You do not need to be a first home buyer, but you cannot own another home or property interest once your new home settles.
• You will live in the home as an owner-occupier.
• You take an owner-occupier principal and interest loan from a participating lender.

Eligible Property Types

You can buy a new or existing house, townhouse or apartment, a house and land package, an off-the-plan property, or vacant land with a building contract. The purchase price and the lender’s valuation must both be at or under the price cap.

How to Apply

You apply through a participating lender as part of your home loan application. Aussiewide can check which participating lenders suit your situation. Book a Free Lending Strategy Session to get started.

For first home buyers, see the 5% Deposit Scheme (First Home Guarantee). For every scheme available in Geelong, see our grants and schemes guide.

Source: Housing Australia, Australian Government 5% Deposit Scheme. This page was last reviewed on 1 October 2026.