Gateway Bank is one of the select lenders able to offer access to the New Home Guarantee.


The New Home Guarantee, formally known as the First Home Loan Deposit Scheme (New Homes), is an initiative from the Federal Government to help first home buyers to build or purchase a new home with as little as a 5% deposit without the need for Lenders Mortgage Insurance, also known as LMI. Gateway Bank is proud to be helping first home buyers get on the property ladder faster, while also saving them the cost of LMI.


Places on the New Home Guarantee are limited. Please register your interest with Gateway Bank to secure your place*.


Please note that these places are in addition to the First Home Loan Deposit Scheme with separate eligibility criteria.

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

Download Key New Home Guarantee Guides

What is the New Home Guarantee?

In the 2021-2022 Federal Budget, the Australian Government announced an additional 10,000 New Home Guarantee places for the 2021-22 financial year, specifically for eligible first home buyers purchasing or building a new home. These additional places are known as the New Home Guarantee, or NHG.


The New Home Guarantee allows eligible first home buyers to build or purchase a new home with a deposit of between 5 to 20% of the property’s value (eligibility criteria applies). The National Housing Finance and Investment Corporation (NHFIC), which oversees the Scheme, 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 under the New Home Guarantee, which will support up to 10,000 loans this financial year. Apply now to secure your New Home Guarantee place with Gateway Bank.

Who is eligible?

Find out if you meet the New 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 NHG place or a loan from Gateway Bank.


Eligibility Criteria

  • Do you have your Notice of Assessment, issued by the ATO, for the previous income year (FY20-21)?
  • 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?
  • Will you be an Australian citizen at your home loan date?
  • Will you be 18 years or over at your home loan date?
  • Do you satisfy the prior property ownership test? (i.e. have you never directly or indirectly owned real estate).
  • Is the loan for a property located within Australia?
  • Do you have a deposit of between 5% and 20% of the value of the property you would like to purchase?
  • Is the loan for:
    • the purchase of a newly constructed dwelling located in Australia, or
    • the purchase a house and land package located in Australia
  • 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 for the New Home Guarantee

  1. Check your eligibility.
  2. Then register your interest for a New Home Guarantee 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 2.54%p.a. Interest rate
  • 2.57%p.a.
    Comparison rate

A Construction Loan gives you access to money as you need it for building or structural renovations. Giving you the ability to change your home as you progress through life's different stages. For building or structural renovations Gateway's Construction Loan has been specially designed for residential building projects, with progressive drawdowns and interest-only terms to suit.

  • 5 free progressive drawdowns
  • Loan Redraw facility available
  • 100% Offset Account available (during construction period)
  • 3.48%p.a. Interest rate
  • 3.54%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 80% LVR 2.64%p.a. Interest rate
  • 2.98%p.a.
    Comparison rate

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 New Home Guarantee places are limited, only available this financial year and applying with Gateway Bank does not guarantee a successful application.

Rates advertised apply to principal and interest repayment types only. 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.

* Eligibility criteria applies

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, minimum loan amounts apply.