One of the biggest challenges for those looking to enter the property market for the first time is building up a deposit.


Gateway is proud to partner with the Australian Government on the First Home Guarantee (FHBG) to help more first home buyers reach their dream of home ownership sooner.


Whether you are looking for a no-frills low interest rate, or the full package with money-smart features, we've got you covered with a Gateway home loan. Register your place now.

Not ready to register for your place? Ask us anything here.


What is the FHBG?

The FHBG is an Australian Government initiative that supports first home buyers to purchase a home with a deposit of as little as 5% without the need for Lender's Mortgage Insurance, or LMI. The National Housing Finance and Investment Corporation (NHFIC) will then provide a guarantee to the lender covering up to 15% of the property’s value.


The NHFIC has appointed Gateway Bank to offer loans to be guaranteed, which will support up to 35,000 loans each financial year.

Who is eligible?

Find out if you meet the First Home Guarantee's eligibility criteria. Please note that this tool is provided as a guide only and does not guarantee that you will receive either a FHBG place or a loan from Gateway Bank.


Eligibility Checklist

  1. Do you have your Notice of Assessment, issued by the ATO, for the previous income year (FY21-22)?
  2. Was your taxable income no more than $125,000 as a single, or no more than $200,000 as a couple (spouse or de facto) for the previous financial year?
  3. Will you be an Australian citizen at your home loan date?
  4. Will you be 18 years or over at your home loan date?
  5. Do you satisfy the prior property ownership test? (i.e. have you never directly or indirectly owned real estate). 
  6. Is the loan for an established property located within Australia?
  7. Do you have a deposit of between 5% and 20% of the purchase price of the property you would like to purchase?
  8. Do you intend to reside in the property you purchase as an owner-occupier while your home loan is guaranteed under the Scheme?
  9. Is the property purchase price within the threshold for your property’s suburb and postcode? You can check this using the NHFIC’s property price threshold tool.


How to apply

  1. Check your eligibility.
  2. Then register your place with Gateway and we will verify your eligibility.
  3. Then apply for your home loan with Gateway.
  4. You're all done! A Gateway consultant will be in touch soon.

Popular Home Loans

Our most competitive home loan with great features allowing you to pay off your mortgage sooner.

  • Loan redraw facility available
  • No annual fees
  • Unlimited extra repayments
  • Up to 80% LVR 3.79%p.a. Interest rate
  • 3.81%p.a.
    Comparison rate

A multi-award winning home loan with flexible features and a competitive rate.

  • No establishment fee
  • 100% offset account available
  • Unlimited extra repayments
  • Up to 75% LVR 3.04%p.a. Interest rate
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A multi-award winning home loan with flexible features and a competitive rate.

  • No establishment fee
  • Option to split variable and fixed loan options
  • Unlimited extra repayments
  • 3 year 6.34%p.a. Interest rate
  • 5.31%p.a.
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As a first home buyer you may also qualify for additional assistance


Everything you need to know about buying your first home


Things you should know:

Please note that the number of available Scheme places are limited each financial year and applying with Gateway Bank does not guarantee a successful application.

Rates advertised apply to principal and interest repayment types only. Gateway reserves the right to vary these interest rates at any time. Interest rates quoted are for new lending only. Existing borrowers should contact Gateway to discuss their requirements. Comparison rates are calculated based on a loan amount of $150,000 over a 25 year term. WARNING: 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. Applications for finance are subject our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.

1 Variable rate special offers are available for a limited time only and may be varied or withdrawn at any time. The offer is available for new loans and top ups of $50,000 or more.

* Please note that we are not able to provide Construction Loans under the First Home Guarantee.