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Government Guarantee for First Home Buyers

December 12, 2019 in Latest News by admin  |  Comments Off on Government Guarantee for First Home Buyers

The wait for First Home Buyers is finally over as the Australian Government has finally released the details relating to the new Government Guarantee Scheme.

The First Home Loan Deposit Scheme (FHLDS) will be offered to 10,000 First Home Buyers each financial year and commences from the 1st January 2020.

The Government Guarantee will enable First Home Buyers to save up to $27,265.00 and is available for FHB’s purchasing a new or existing house, unit, townhouse, duplex, etc. (i.e. not restricted to new homes)

Please Note: There are several conditions including:

• Maximum income of $125,000.00 p.a. for Singles and $200,000.00 p.a. combined income for Couples

• Maximum purchase price varies depending on the state and location of the property (e.g. QLD $475,000.00, NSW Capital City + Several Regional Centres $700,000.00 + NSW Other $450,000.00, VIC – Capital City & Geelong $600,000.00 + VIC Other $375,000.00)

• Available through a Mortgage Broker & a select group of Banks and Credit Unions (2 Major Banks + 25 Small Banks & Credit Unions – i.e. Not available through all Banks & Lenders)

CLICK HERE to view all the Eligibility Criteria or visit Australian Government Website

Q: How do I apply ?

A: Click on CONTACT US or phone 0755274744 and talk with our Mortgage Specialists

Posted in Latest News.