Single parent home loan

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The Australian government has unveiled a new initiative called Family Home Guarantee, which is aimed at helping eligible single parents to purchase their family home.

Single parents can now qualify for home loans with just a 2% deposit. You don’t need any savings, but you do need an income below $125,000 to qualify.

To be eligible for the Family Home Guarantee you must:

be an Australian citizen, aged 18 years or over. Permanent residents aren’t eligible.

be a single parent with at least one dependent living with you

have earned $125,000 or less last financial year

Property requirements

You cannot currently own a home, but you can have owned a home before.

You have at least a 2% deposit to contribute towards your property purchase.

The single parent must be the only name listed on the loan and the certificate of title.

Personal Care Super Support Guaranteed

Most lenders will accept the Parenting Payment as form of income when assessing your application for a loan.

In addition to this, some lenders may also offer competitive rates,if they know that Parenting Payment is part of your household income.

We know that navigating the loans market can sometimes be daunting – so talk to one of our experts today and they'll guide you through the process – step by step.

We have one of the lowest interest rates in the market which makes your Single Parent Home Loan Loan requirement with us a no-brainer!

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