In 2019 the Australian Government announced a new initiative designed to support eligible first home buyers purchase a home sooner. It does this by providing a guarantee that will allow eligible first home buyers on low and middle income to purchase a home with a little as 5%. The scheme will start in January 2020 and will support up to 10 000 loans each financial year.
Eligibility –
- the scheme is open to Australian citizens over 18 years old. Permanent residents cannot apply.
- Income thresholds apply – $125 000 Singles and $200 000 Couples.
- Applicants must intend to live in the property as their principle place of residence.
- Property Price thresholds apply in each State or Territory.
- Other Conditions apply – Please contact Central Lending Solutions
How to Apply –
To view the list of participating lenders please contact Central Lending Solutions. We can guide you thru the process.
