The First Home Loan Deposit Scheme is an Australian Government initiative to support eligible first home buyers purchase a home sooner. This is aimed at enabling first home buyers to purchase a home with a deposit of as little as 5 per cent (specific lender criteria applies). 10,000 First Home Loan Deposit Scheme's have been released this financial year with another 10,000 Scheme's to be available from July 2020.
With a Fountain Finance broker by your side, you will save time and fast-track your application process by understanding the requirements quicker. Before applying, first home buyers should carefully consider whether they will apply as a single or as part of a couple.
The National Housing Finance and Investment Corporation has also developed a tool to help first home buyers find out the property price threshold for the suburb in which they are looking to purchase a property. For more information, get in touch via 0418 700 751 or john.sandona@finsure.com.au.
