- lola@luminarfinance.com.au
- 45 Delawney St, Balcatta WA 6021
For years, Jake poured his heart and energy into building his business. Like many self-employed Australians, his focus was on growth and stability – and while his business thrived, the dream of owning a home seemed just out of reach.
With the right guidance and strategies, Jake and his wife are now building their first home – a place they can finally call their own.
How We Made It Happen
When Jake reached out to Luminar Finance, we took a close look at his situation. Being self-employed can make the lending process more complex, but with careful preparation and thorough documentation, we were able to demonstrate that Jake was in a strong financial position.
We guided him through all the benefits available to first-home buyers, including:
By combining the build pathway with the Home Guarantee Scheme, Jake could make his dream home a reality without stretching his finances.
The Result
Jake is now building a beautiful home valued at $750,000, with a deposit of only $37,500.
Thanks to the FHOG, he can use the additional $10,000 either to:
This combination of government incentives and smart planning has made Jake’s first home both affordable and achievable.
Jake’s story is one of many we see each week – hardworking Australians who simply need the right advice to turn their dream into reality. Every customer’s journey is different, which is why at Luminar Finance, we tailor solutions to meet each client’s unique goals.
If you’re tired of paying someone else’s mortgage and wondering whether now is your time – it just might be.
Check your eligibility for the Home Guarantee Scheme here or reach out to our friendly team at Luminar Finance today.
As of October 1, 2025, the Australian Government has significantly expanded the Home Guarantee Scheme (HGS) to help more first-time buyers enter the property market. Here’s what you need to know.
What Is the Home Guarantee Scheme?
The HGS is a federal initiative that allows eligible first-home buyers to purchase a property with as little as a 5% deposit, eliminating the need for Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the loan, reducing the lender’s risk and helping buyers secure a home sooner.
Previously, the scheme had a cap on the number of participants each year. As of October 1, this cap has been removed, allowing an unlimited number of first-home buyers to benefit from the program. See Housing Australia for details.
The income limits that previously restricted eligibility have been abolished. Now, first-home buyers of all income levels can apply for the scheme, broadening access to a larger demographic
To account for increasing property prices, the scheme’s property price caps have been raised across Western Australia. For instance, in the Perth metropolitan area, the cap has increased from $700,000 to $1,000,000, while in regional WA, it has risen from $500,000 to $600,000.
The Regional First Home Buyer Guarantee has been integrated into the broader HGS, simplifying the application process for those purchasing in regional areas.
To qualify for the expanded HGS, applicants must:
There are no longer income caps or limits on the number of applicants. Check the full eligibility details here.
While the expanded HGS opens up opportunities, it’s important to keep these factors in mind:
The expanded Home Guarantee Scheme is helping first-home buyers across Australia, including self-employed Australians like Jake, turn homeownership dreams into reality.
With the right guidance and a tailored plan, combining benefits such as the FHOG and the HGS build pathway can make even seemingly challenging purchases achievable.
Reach out to Luminar Finance today to explore how these programs could help you secure your first home.
Fill in your details below to watch the full recording of “Pathway to Property” and gain valuable insights into navigating the property market.
Fill in your details below to watch the full recording of “Pathway to Property” and gain valuable insights into navigating the property market.
