Important notice on the Regional First Home Buyers Guarantee

Following a significant boom in regional areas, the National Housing Finance and Investment Corporation have extended the Regional First Home Buyers Guarantee (RFHBG) for an additional 10,000 places each year until 25 June 2025.

The RFHBG allows eligible first-home buyers to enter the market with a deposit of as little as 5% without paying Lenders Mortgage Insurance. This means you could own your first home sooner than expected with price caps for the scheme being set to $800,000 in the Geelong region.

Who is eligible for the RFHBG Guarantee?

• Single applicants with a taxable income of up to $125,000 per annum, and couples with a taxable income of $200,000 per annum, as shown on the Notice of Assessment issued by the Australian Taxation Office.
• Applicants (or at least one applicant if applying as a couple) who have lived in the regional area or adjacent regional area they are purchasing in for the preceding 12-month period to the date they execute the home loan agreement.
• Applicants with home loan repayments of both principal and interest for the full period of the loan agreement.
• Applicants who intend to be owner-occupiers of the purchased property.
• Applicants who have not previously owned, or had interest in, a property (including owning or having owned land) in Australia.

To discuss your circumstances, we recommend you contact a Participating Lender.

It is important to note that if you are eligible for the RFHBG, you are not eligible for the First Home Guarantee. However, eligible regional first home buyers can use the RFHBG in conjunction with other government programs like the First Home Super Saver Scheme or state and territory first home owner grants and stamp duty concessions.

For more information visit the Australian Government Regional First Home Buyer Guarantee website at www.nhfic.gov.au or contact one of our friendly sales agents to discuss what the RFHBG could mean for your family at The Reserve.