The Federal Government Scheme
First Home Buyers, if you’re looking to buy a house, this tip could save you up to $50,000, so watch to the end.
This scheme that I’m going to talk about is called the First Home Buyers Deposit Guarantee Scheme. It’s a scheme by the federal government to help you avoid paying Lenders’ Mortgage Insurance.
Now, Lenders Mortgage Insurance can be very expensive, anywhere from a few thousand to tens of thousands of dollars. And if you use the scheme right and buy a brand-new property, you could also be eligible for the First Home Buyers Grant and, in some states, not have to pay stamp duty, which could save you up to $50,000.
Now, there are only 35,000 places per year on this scheme for First-Home Buyers, and different First-Home Buyers can also qualify for different amounts. So, people who are single mums can qualify with as little as a 2% deposit. So, if you’re buying a brand new property, the First-Home Buyer’s Grant might be enough to get you very close to getting into your first home.
It’s a very important scheme that all First Home Buyers should know about. The best way to determine eligibility is to contact your finance broker and find out if you qualify. If you don’t have a finance broker, DM me, and I’ll send it to you through our preferred broker. John, he’s an absolute legend and a guru with money. Or comment and say, send me the broker’s details.
We’d love to help you out because this could enable you to enter the market sooner. And with what I’m predicting will happen in the market: increases in capital growth of around 5 to 10% per year for the next three years or so. It means if you’re in the market earlier, you start making money earlier. It’s a great tip and scheme, and you should be in on it.