First Home Loan Deposit Scheme – Don’t Miss Out

What is the First Home Loan Deposit Scheme?
The Australian Government has introduced the First Home Loan Deposit Scheme (FHLDS) to support first home buyers to purchase a home sooner. It does this by providing a guarantee that will allow eligible first home buyers to purchase a home with a deposit of as little as 5 per cent without needing to pay for lenders mortgage insurance.

The scheme will support up to 10,000 guaranteed loans per financial year from 1 January 2020. Eligible borrowers can use the guarantee in conjunction with other government programs like the First Home Super Saver Scheme and first home owner grants and stamp duty concessions.

How does the scheme work?
Eligible first home buyers are able to obtain an eligible loan to purchase an eligible property through a participating lender with up to 15 per cent of the value of the property guaranteed by the National Housing Finance and Investment Corporation (NHFIC).

The first step is to find out if you are eligible and then source an eligible property:
– You must earn less than $125,000 singles – $200,000 for couples
– Value of eligible home and land contract has to be under $400,000 (Rosehaven/Brassall)

Contact us today on (07) 54 555 888 to discuss House & Land packages that comply with the FHLDS criteria at our Rosehaven and Emerald Hill Estates’.

To find out more about the eligibility criteria for borrowers and properties click here.

No Comments

Post A Comment