20-05-21

UPDATE -  new First Home Loan Deposit Scheme places and new family home guarantee

NEW! Family Home Guarantee

The Australian Government has announced a new program called the Family Home Guarantee, which provides eligible single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of 2 per cent, subject to the individual’s ability to service a home loan.

From 1 July 2021, 10,000 Family Home Guarantees will be made available over four financial years.

The Family Home Guarantee is aimed at single parents with dependants, regardless of whether that single parent is a first home buyer or previous owner-occupier. Applicants must be Australian citizens, at least 18 years of age and have an annual taxable income of no more than $125,000. A fact sheet with further information on eligibility criteria will be available on NHFIC’s website next week.

The First Home Loan Deposit Scheme FHLDS Existing Properties NEW PLACES

In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing existing properties.

The First Home Loan Deposit Scheme FHLDS (New Homes) extended for 2021-22 NEW PLACES

An additional 10,000 FHLDS (New Homes) places will be available from 1 July 2021 to 30 June 2022. Find out more about the eligibility criteria for the FHLDS (New Homes).

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