The First Home Buyer Guarantee Scheme (FHBGS) in Australia assists first-time home buyers by providing a government guarantee on their home loan. This scheme enables eligible buyers to purchase a home with a deposit as low as 5%, without needing to pay lenders mortgage insurance (LMI). The FHBGS aims to make homeownership more achievable for first-time buyers by reducing the deposit requirement and potentially saving them thousands of dollars in LMI costs. Eligibility criteria apply, and places in the scheme are limited. For more information, visit our website at FHBA or contact us at 1800 342 287.