Our COVID-19 response. Learn more about this notice

Beware - Prepaid card scams are active. Learn more about this notice

Police Credit UnionGo to website homepage

First Home Buyer Information

Exciting times are ahead, you’re looking to purchase your first home!

At Police Credit Union, we understand how overwhelming the process can be. Here’s some information that could help you land your first home.

Family Guarantee

A Family Guarantee (also known as a Family Pledge) may be an option to help you get started if you have a low deposit. Guarantors can be immediate family members such as parents who have enough equity in their home and offer part of this equity as security for your loan.

The equity in their property can help make up for any shortfall in saving the minimum 20% deposit required to avoid the need for Lenders’ Mortgage Insurance (LMI) which could save you thousands or increase your borrowing power. Find out more about LMI.

First Home Owner Grant

You may also be eligible for financial assistance from the Government in the form of the First Home Owners Grant. You can find out more on the Revenue SA or the Northern Territory Government websites.

To work out how much you’ll need to borrow, use our calculators. You can also check out our great range of flexible home loans to suit your needs.

Are you interested in discussing your options? We’re here to help! Give us a call on 1300 131 844 or visit a branch today.

How can we help?