20-05-21

Government announces 30,000 more FHLDS Scheme places to support Australians buying a home.

NEW! Family Home Guarantee

Beginning July 1, 30,000 new places were made available under the Australian Government’s First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee. These schemes assist singles, families and first home buyers enter the market sooner with less deposit.

The Family Home Guarantee was announced in the 2021/22 Federal Budget to support eligible single parents with at least one dependent child. 10,000 Family Home Guarantees will be made available over four financial years from 1 July 2021 to buy a new or existing home with a deposit of as little as 2 per cent.

The New Home Guarantee, announced in October 2020, is specifically for eligible first home buyers building or buying a new home with a deposit of as little as 5 per cent. It has been extended under the 2021-2022 Federal Budget with 10,000 new places available from 1 July 2021 to 30 June 2022.

10,000 additional places have also been released under the First Home Loan Deposit Scheme for the 2021-2022 financial year.

There are many lenders taking part in the scheme and most are now accepting Pre-Approval applications. (With applicants placed in the waiting list for an allocation). For a helping hand to find out if you qualify for any of these opportunities, give us a call.

 

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