Looking for you’re first home in 2020?

On 1 January, the Australian Government’s First Home Loan Deposit Scheme kicked off to assist eligible first home buyers to purchase a home sooner.

How does it work?

The Australian Government provide a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5% without having to pay for lenders mortgage insurance (LMI).  This means First Home Buyers could get into a home sooner, without the additional expense of LMI.

There are a number of eligibility requirements, as well as criteria for the intended home purchase, that apply. For further information, the National Housing Finance and investment Corporate have prepared a Fact Sheet with key information that can be viewed at https://www.nhfic.gov.au/media/1236/fhlds-fact-sheet.pdf

If you’re looking to purchase you’re first home in 2020, or would like to start working towards a first home purchase, get in touch with one of our Advisers to find out more on how we can support you on taking your next steps towards Home Ownership! Phone 1300 656 260