One of the biggest hurdles first home buyers when trying to get into the property market is saving up for a deposit, which could take YEARS to save!
In January 2020, the Australian Government introduced the First Home Loan Deposit Scheme to assist first home buyers in getting into their own home sooner with a deposit as little as 5%, without having to pay Lender’s Mortgage Insurance – saving you thousands!
To make the deal even sweeter, this scheme can be used in conjunction with the First Home Owners Grant.
The First Home Loan Deposit Scheme is limited to 10,000 loans each financial year. First Home Buyers will be able to access a home loan through a participating lender and the National Housing Finance and Investment Corporation (NHFIC) will then provide a guarantee to cover the remaining amount required based on the property’s value.
Eligibility requirements apply.
Fill out your details below to get in touch with our team to find out more information and see if you qualify to get into your own home!