Compare the eligibility criteria for our home pathways below.

Click here for more information on the home pathways.

If you are a single parent or single legal guardian of at least one dependent, please click here to find out more.

Eligibility Criteria

     
    Home Guarantee Scheme*5    
  Victorian Homebuyer Fund*4 First Home Guarantee
(FHBG)
Regional First Home Buyer Guarantee (RFHBG) Family Home Guarantee
(FHG)
First Home Buyer
Home Loan*
Guarantor Loan Option
Who is eligible?

Australian or New Zealand citizens or permanent Australian residents6

Australian citizens or permanent residents6

Individual or joint applicants7

Either first home buyers or previous homeowners who haven’t owned a property in Australia in the last 10 years

Australian citizens or permanent residents4

Individual or joint applicants7

Either first home buyers or previous homeowners who haven’t owned a property in Australia in the last 10 years

At least one borrower must have lived in the regional area or adjacent regional area for the previous 12 months

Australian citizens or permanent residents6

Single parents or single legal guardians who do not currently own a property or do not intend to own a separate property when they settle on the home

Australian citizens or permanent residents6

First home buyers

Australian or New Zealand citizens or permanent Australian residents6

Purchase location Victoria only Australia-wide Australia-wide Australia-wide Australia-wide Australia-wide
Minimum deposit 5% for eligible applicants, 3.5% for eligible Aboriginal and Torres Strait Islander applicants 5% 5% 2% 5% N/A
Income threshold Up to $135,155 for individuals (excluding single parents) and $216,245 for single parents and joint applicants Up to $125,000 for singles and $200,000 for couples Up to $125,000 for singles and $200,000 for couples Up to $125,000 N/A N/A
Property price caps Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. Yes, property price caps for the purchase location can be viewed here. No

No

 

 Key benefits

   
    Home Guarantee Scheme*5  
  Victorian Homebuyer Fund*4 First Home Guarantee
(FHBG)
Regional First Home Buyer Guarantee (RFHBG) Family Home Guarantee
(FHG)
First Home Buyer
Home Loan*
Rates 5.74% p.a. Variable Rate
(Comparison Rate  5.74% p.a. )

Owner Occupied | Principal & Interest

5.74% p.a. Variable Rate
(Comparison Rate  5.79% p.a. )

Owner Occupied | Principal & Interest

5.74% p.a. Variable Rate
(Comparison Rate  5.79% p.a. )

Owner Occupied | Principal & Interest

5.74% p.a. Variable Rate
(Comparison Rate  5.79% p.a. )

Owner Occupied | Principal & Interest

5.74% p.a. Variable Rate
(Comparison Rate  5.79% p.a. )

Owner Occupied | Principal & Interest

Government’s contribution to equity Yes, up to 25% for eligible applicants, 35% for eligible Aboriginal and Torres Strait Islander applicants in exchange for an equivalent share in the property No No No No
Avoid Lenders Mortgage Insurance (LMI) Yes, minimum 5% deposit required for eligible applicants, 3.5% for eligible Aboriginal and Torres Strait Islander applicants Yes, minimum 5% deposit required Yes, minimum 5% deposit required Yes, minimum 2% deposit required Yes if 20% deposit or with Get Ahead Start Guarantor option
Get Ahead Start Guarantor option (borrow up to 100% LVR) No No No No Yes
Annual fee $0 $0 $0 $0 $0
Establishment fee $0 $0 $0 $0 $0
Settlement fee $0 $0 $0 $0 $0
Valuation fee Waived Waived up to $1000 Waived up to $1000 Waived up to $1000 Waived up to $1000

 

 

 

Home Loan calculators

Use our Home Loan calculators to determine the amount you can borrow and monthly repayment amounts.

Submit an enquiry today!

  • 1 Comparison Rate is calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. WARNING: These Comparison Rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different Comparison Rate.
  • 2 Special offer only available for new security. Not available for refinance of existing G&C Mutual Bank or Unity Bank Loans. Offer may be amended or withdrawn at any time.

4 Unity Bank is a participating lender for the Victorian Homebuyer Fund,  an initiative of the Victorian Government under which the Government contributes up to 25%  (up to 35% for Aboriginal and Torres Strait Islanders) of the price of the property for eligible applicants buying eligible properties, in exchange for an equivalent interest in the property secured by a 2nd mortgage, and Unity Bank lends the balance purchase price, less the deposit, secured by a 1st mortgage. Terms and conditions, fees and charges, Scheme eligibility criteria and lending criteria apply. Full details available on application. All information is correct as at 18 November 2024 and subject to change. Target Market Determination available here.

5 Unity Bank is authorised to offer the Australian Government’s Home Guarantee Scheme, under which the Government guarantees up to 15% of the value of the property (FHBG and RFHBG) and up to 18% for FHG. The Guarantees are not cash payments or deposits for your home loan. For more information click First Home Guarantee (PDF), Family Home Guarantee (PDF) and Regional First Home Buyer Guarantee (PDF). Target Market Determination available here.

6 For the Victorian Homebuyer Fund and Home Guarantee Scheme, permanent residents include New Zealand citizens.

7 Joint applicants may include partners, friends, siblings, and other family members.

* Credit eligibility, terms and conditions, additional fees & charges may apply. New loans only.

Eligibility criteria, terms and conditions and fees and charges apply. All information including interest rate is subject to change. All information including interest rate is subject to change.