Tuesday 30 June, 2020
You may remember back in January we introduced you to the First Home Loan Deposit Scheme (FHLDS). The Australian Government announced the scheme, allowing first home buyers to purchase a property with a deposit as little as 5%.
The FHLDS was due to expire at the end of the 19/20 financial year. Time for some good news… The Australian Government has just announced a further 10,000 places will become available at the start of the 20/21 financial year! If you missed out or weren’t quite ready to purchase a home, now’s your chance to get into the market.
The FHLDS can be used in conjunction with the other available schemes, so it’s well worth taking a look at if you’re looking to secure your first home. Check out the different grants that are available here!
Don’t forget, it’s our recommendation to get a pre-approved loan. They’re valid for up to 3 months and that way you can secure your spot without having to rush to find the perfect home.
If you have any questions or would like to know if you’re eligible, please get in touch so we can help you on your journey into the property market.
When applying for a loan, you’ll hear terms such as “borrowing power”, “borrowing capacity”, and “assessment rate”. But how do they relate? What do they mean? We’ll break it down for you in a simple equation.
During your research into your financial situation, you may have clicked on our calculator section – and been overwhelmed with the number of different types available! What do they all mean and what are they used for?!