First Home Buyers – Did you know?

You can own your piece of luxury/custom built today with 5% deposit.

FHGB is part of the Home Guarantee Scheme (HGS), an initiative of the Australian Government to support eligible home buyers purchase a home sooner.  The scheme is administered by the National Housing Finance and Investment Corporation on behalf of the Australian Government.

The scheme allows first-time buyers to put down just 5% deposit for a property with the Government acting as Guarantor for an additional 15% so the usual Lenders Mortgage Insurance (LMI) is not required – big savings!!

From 1 July 2022 – 30 June 2023, 35,000 FHBG places are available to eligible first home buyers.

It’s a promising initiative for those looking to buy or build but industry research indicates that as many as eight-in-ten first home buyers don’t understand what the Scheme is or if they are eligible to take advantage of it.

First Home Loan Deposit Scheme Price Caps:

Under the Scheme, the property you are purchasing/building must fall below a certain threshold:

State/territory:Capital City/Regional Centre:Rest of State:

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2023 David Reid Homes.
All Rights Reserved.