The First Home Loan Deposit Scheme is here to assist eligible first home buyers in purchasing a home sooner with a smaller deposit than what was previously required.
10,000 more opportunities are now available to help Australians buy their first home!
It provides a guarantee to participating lenders that allows eligible first home buyers to purchase a home with a little deposit of 5 percent without needing to pay the lenders mortgage insurance for having less than a 20 percent deposit.
With the current challenges posed by COVID-19, NHFIC anticipates the continued demand for these new 10,000 places to continue.
There are a number of select lenders that have been provided quota for the 10,000 Scheme places for the 2020-2021 financial year, and we can assist by guiding you though your lender options, and their respective process, to achieve the best outcome possible.
Applications will require a 2019-2020 Notice of Assessment from the Australian Taxation Office to demonstrate that their taxable income is no more than $125,000 for individuals and $200,000 for couples.
You could be in your first home with as little as 5 percent deposit. Want to know more? Hit me up and let's chat!
Rachael Bland – Founder & CEO