First Home Loan Deposit Scheme extended

The Federal Government will extend the First Home Loan Deposit Scheme, adding an additional 10,000 places to stimulate the economy and support construction.

This is great news for those planning to build in Kingslea and with the combination of the current HomeBuilder Grant means you could take advantage of up to $35,000 if you are a first home buyer.

The First Home Loan Deposit Scheme allows first home buyers to enter the market sooner by purchasing with a deposit as little as 5% by guaranteeing up to 15% the value of the home, saving you from paying Lenders Mortgage Insurance (LMI). The scheme, which has already helped close to 20,000 first home buyers, is currently limited to 10,000 places each financial year on a first in, best dressed basis. But the Federal Government will now allow an additional 10,000 first home buyers to enter the scheme from October 6 until June 30, 2021.

If you would like to find out more, don’t hesitate to get in touch with Jason on 0427 807 818 or via email on [email protected].