Single Parent Home Loans in Adelaide
Home Ownership is possible, even on one income.
At Kwelii Finance, we understand the responsibility and financial pressure of raising a family on one income. As specialists in single parent home loans, we provide tailored financial solutions and access to government schemes that can help you secure your first home sooner than you think.
How Kwelii Finance helps single parents in Adelaide
We are local Munno Para mortgage brokers who specialise in helping single-income households overcome lending challenges, structuring your application carefully to maximise borrowing power and improving your chances of approval.
How we help
- We help assess your eligibility and provide guidance to improve your lending options
- We work with participating lenders that work with government schemes
- We specialise in guiding single-income households through the loan approval process.
- We do not charge a fee
Buy a home with as little as 2% deposit
As a single parent, you may think home ownership is out of reach. The truth is, with government support like the Family Home Guarantee and flexible single parent home loan options, you could buy a home with as little as a 2–5% deposit. With specialised support, low-deposit options, owning a home for you and your family is absolutely possible.
What is the Family Home Guarantee?
This Australian Government Scheme for single parents drastically reduces the time and amount needed to save for a deposit. Eligible single parents or legal guardians with dependent children, can purchase a home with as little as a 2% deposit. Instead of requiring a 20% deposit, the government provides a guarantee to the lender, helping you to avoid extra costs like Lenders Mortgage Insurance and save faster.
Key Benefits for Single Parents
- Purchase with a low 2% deposit
- Avoid extra costs like Lenders Mortgage Insurance (LMI)
- Access support regardless of income level (no income caps)
- Choose from a range of property types (subject to price caps)
- Apply any time (no annual caps or waiting lists)
- A Government guarantee
Family Home Guarantee FAQs
Am I Eligible?
- Must be an Australian citizen or permanent resident, 18 years or older
- Have saved a minimum deposit of 2%
- Be a single parent / legal guardian of at least one dependent child
- Not have any other property interest at the time of settlement
- Purchase a home in Australia priced at or below the location’s price cap
- Plan to live in the home as an owner-occupier
- Apply for an owner-occupier loan with principal and interest payments through a participating lender
- Meet the lending requirements and loan approval criteria for your Participating Lender.
What type of properties qualify?
Houses, townhouses, apartments, house/land packages, off-the-plan, or builds on vacant land that are priced at or below the location’s price cap.
Do I need to be a first home buyer?
No, applicants can be a first-time homeowner or previous homeowner.
Can I buy an investment property?
No, the property must be owner-occupied.
Does Centrelink count as income?
Depending on the lender, Centrelink payments may qualify as income for home loans in Australia. Long-term payments like the Family Tax Benefit or Carer payment may be treated as assessable income, and are commonly viewed as supplementary.
Do child support payments qualify as income?
Depending on the lender, child maintenance support income may be accepted as income if it is court-ordered, received for a minimum of six months, and administered by Services Australia.
Other agreements such as a limited support or binding child support agreement are not accepted.
Can single mums apply for the Family Home Guarantee?
Yes, single mums who have no spouse or defacto partner and are the natural parent, adoptive parent or legal guardian of one or more dependent children qualify.Â
*If you are separated but not divorced, you are not considered a single parent.
Are there property price limits in South Australia?
Yes, properties must meet location price caps.Â
Other Government Support Options for Single Parents
Help to Buy Scheme
This is a shared equity Scheme where the Australian Government will make a 30%-40% contribution to the purchase price of your home, enabling you to bridge the gap and buy sooner. First-time home buyers will need to save a minimum of 2% and get a home loan from a participating lender.
for South Australian Residents
First Home Owner Grant SA
Receive up to $15,000 if you’re buying or building a new home in South Australia for your principal place of residence. This applies to the purchase or construction of a new home, an off-the-plan apartment, a substantially renovated home, a comprehensive building contract, or owner builders.
Stamp Duty Concessions
Eligible first home buyers may qualify for stamp duty relief for contracts entered into on or after 15 June 2023 when purchasing a new home, an off-the-plan apartment, or vacant land to build a new home on.
*Surcharges may apply for foreign owners who are not Australian citizens or Permanent Residents.