Home Guarantee Scheme
WA 2026

How it works

Under the Home Guarantee Scheme, the federal government acts as guarantor for the portion of the loan between your deposit and 20 per cent of the property value. This means the lender does not require you to pay LMI, even though your deposit is less than 20 per cent. You still take out a standard home loan — the guarantee simply removes the LMI requirement.

This is not a grant and it is not a shared equity arrangement. You own the property outright, and you repay the full loan amount. The guarantee has no direct cost to you.

Eligibility in WA

From October 2025, the scheme has been significantly expanded. There are now unlimited places available (previously capped at a set number per year), and income caps have been removed. To be eligible, you must be an Australian citizen aged 18 or over, you must not have previously owned property in Australia, and the property must be valued under the relevant price cap.

The property price cap for Perth and regional centres in WA is $850,000. For the rest of the state, the cap is $600,000. Both new and established homes are eligible.

Which lenders participate?

Not all lenders participate in the Home Guarantee Scheme, and among those that do, policies and processing times vary. Some lenders are more experienced with these applications and assess them more favourably. A broker can identify which participating lenders are most likely to approve your application with the best terms.

Read our full guide to buying your first home in Perth for details on stacking the Home Guarantee Scheme with other WA grants and concessions.

Frequently asked questions