First home buyers and single parents with children in Cairns and Far North Queensland can now apply for a place under the Morrison Government’s First Home Loan Deposit Scheme, New Home Guarantee or the Family Home Guarantee.
Ten thousand additional places will be made available under each program from 1 July 2021.
Since the introduction of the First Home Loan Deposit Scheme and New Home Guarantee, 30,000 Australians have been able to enter the housing market.
The Morrison Government has also now established the Family Home Guarantee, announced in this year’s federal budget, to support single parents with dependants.
Under the program, 10,000 guarantees will be made available to eligible single parent families to build a new home or purchase an existing home with a deposit of as little as two per cent.
Federal Leichhardt MP Warren Entsch said these programs would help first home buyers and single parents with children in Cairns and Far North Queensland enter the housing market and buy their very own home.
“The Morrison Government is absolutely committed to helping more people in Cairns and Far North Queensland achieve the security and dignity that home ownership provides,” Mr Entsch said.
“HomeBuilder was a stunning success and I personally know of several people who are now living in their own home due to that program.
“With the 30,000 new places across all three programs available from 1 July, now is the time for potential applicants to contact a participating bank or mortgage provider and get their applications underway.”
Assistant Treasurer and Housing Minister Michael Sukkar said that the new places will assist Australians in achieving the aspiration of home ownership.
“The First Home Loan Deposit Scheme has been a landmark success of the Morrison Government since its commencement in 2020,” Mr Sukkar said.
“30,000 first home buyers have been supported into home ownership through First Home Loan Deposit Scheme and New Home Guarantee already.
“We know how difficult it can be to buy a new home or re-enter the housing market, and that saving a deposit is the hardest part of getting into home ownership.
“That is why the Morrison Government has established the new Family Home Guarantee which recognises the challenge of saving for a deposit is that much more difficult when you are a single parent with children.”
The New Home Guarantee commenced on 6 October 2020 as a temporary expansion of the First Home Loan Deposit Scheme.
It will provide an additional 10,000 places for first home buyers seeking to build a new home or purchase a newly built dwelling with a deposit of five per cent and a construction commencement timeframe of 12 months.
For further information about the First Home Loan Deposit Scheme visit:
For further information about the New Home Guarantee visit:
For further information about the Family Home Guarantee visit: