|
If you live in regional Australia, the Regional First Home Buyer Guarantee (RFHBG) is an Australian Government initiative to help you buy or build your first home sooner. At IMB, we’re proud to be a participating lender in this initiative. It is administered by the National Housing Finance and Investment Corporation (NHFIC) under the Home Guarantee Scheme (HGS). There are 10,000 RFHBG places available nationally this financial year (and each year until June 2025). Eligible borrowers can use the RFHBG in conjunction with other government programs like the First Home Super Save Scheme, and relevant state and territory first home owner grants and stamp duty exemptions (find out more about those here).
How does the RFHBG work?If you’re eligible for the RFHBG you can buy or build your first home with a low deposit of 5%, without paying Lenders Mortgage Insurance (LMI). Usually, first homebuyers with less than a 20% deposit need to pay Lenders Mortgage Insurance. Through the Scheme, NHFIC will “guarantee” the difference in deposit for the lender, which means Lenders Mortgage Insurance is not required.
What type of home can I buy?For a property to be eligible it must be a residential property. Eligible residential properties generally include:
Property price caps also apply, based on where you buy. Search the property price threshold for a suburb or post code at the National Housing Finance and Investment Corporation (NHFIC) website.
How do I apply for the Regional First Home Buyer Guarantee?Check your eligibilityThe section titled "Eligibility Criteria" below details the main eligibility criteria. You can find out more at the NHFIC website to check your eligibility. Get in touch with usBook an appointment online, by calling 133 462, or at your local IMB branch. Submit your home loan applicationOnce you have received conditional approval from IMB, we will collect the documents required for eligibility and reserve your Guarantee. Buy a homeYou now have 90 days to purchase your first home after you’re approved for the Regional First Home Buyer Guarantee..
Eligibility criteriaTo apply for the RFHBG, you will be subject to the following eligibility criteria. You need to be able to provide documentation of your eligibility to secure your Guarantee place. Eligibility criteria includes:
|
Talk to Us | Back to HGS | Other Grants |
First home buying resources |
buying guides Simple first home buyer guides |
Preparing to buy my first homeBuying your first home? Go, you! Now’s the time. IMB’s First Home Buyers Guide provides easy explanations through the journey of buying your first home.
|
How to buy my first homeYou’ve done the research, have an expectation for price and value in the area, have your deposit (and extras) sorted and are feeling primed. It’s now time to organise your loan and buy your first home. |
How to get your first home loan in 4 simple steps
Understand the basics
Buying your first home is both daunting and incredibly exciting. Check out our step-by-step guides to take you from “I wish” to “I’m home”.
Compare home loans
Fixed rate or variable rate? What’s an offset account? Can I redraw on my home loan? Compare home loans, simple and easy.
Apply for a home loan
Book a time to speak with an IMB Bank home loan expert or apply for a home loan online.
Loan approved
Found your dream home or are shopping around? Get conditional approval# so you can buy with confidence.
How we can help you |
Over 140 years of trust
|
Customer focused |
Access Australia-wide |
Damian and Elissa from Newcastle Buying our first home with IMBWhen Damian and Elissa were ready to buy their first home, things got tricky with their previous financial institution. “We quite quickly needed to get our finances sorted,” Damian says. “They weren’t clear on how much money we needed in order to get a loan and left out key details.” “As we got into the process, they said we’d need money upfront for lenders mortgage insurance, which threw a spanner in the works,” Elissa explains. Damian and Elissa got in touch with Vanessa Muddiman, an IMB Mobile Lender in Newcastle. “Vanessa mapped out all the steps for us” says Elissa. “It really eased our minds to know that Vanessa was all over the process and going to let us know what to do at each step.” With IMB, the couple had their loan application approved and have since moved into their new home. Vanessa has stayed in touch since and subsequently helped the couple take advantage of a lower interest rate on their mortgage. “That was really good because we were so busy at the time with our newborn that we didn’t even think to look at our rate. It was so fantastic of her to go above and beyond in that way,” Damian says. |
Talk to a home loan specialist |
They will answer any of your questions and assess your situation. This can be at your local branch, on the phone or we can come to you. |
Why choose us?
Established in 1880, IMB Bank is one of the most enduring financial institutions in the country, helping people achieve their financial goals for over 140 years. Our members can access a fully featured range of services: home and personal lending, savings and transaction accounts, term deposits, business banking, and more.
Our renowned personal service is backed by innovation, providing convenient, secure digital banking options where and when you want it. IMB also has a growing retail branch network throughout NSW and Victoria, for when you need to speak to someone in person, and a team of professionals at our locally based contact centre. We have a lending specialist in every branch and a team of mobile lending specialists who will come to you.
Find out moreWhenever, Wherever Banking
Availability of Payments ServicesLearn more about availability of payments services to individuals and businesses provided by IMB Bank. |