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Government Schemes

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    The Federal Government currently has three low-deposit home loan schemes running: The First Home Guarantee, which enables eligible first home buyers to access a home loan using a 5% deposit without paying lenders mortgage insurance (LMI). It has 35,000 places per year. The Regional Home Guarantee, which enables eligible first home buyers in regional Australia to access a home loan using a 5% deposit without paying LMI. It …

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The cost of stamp duty has in the past, been a barrier to property ownership for many first home buyers. First Home Buyer Choice is an initiative by the NSW government to allow first home buyers to choose if they want to pay an annual property tax rather than an up front lump sum stamp duty. How will First Home Buyer Choice impact borrowing capacity? If you choose to pay the annual …

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