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Deposit carrot for first home buyers as scheme extended – NEWS.com.au
Deposit carrot for first home buyers as scheme extended
First home buyers will be spared thousands of dollars in mortgage insurance under the extension of a government scheme. An additional 10,000 buyers will be able to build or purchase a new home with only a five per cent deposit from Tuesday.
Buyers usually need a deposit of 20 per cent or have to pay lenders mortgage insurance.
But under the First Home Loan Deposit Scheme, additional loan guarantees of up to 15 per cent will be available until June 30 for eligible buyers.
Treasurer Josh Fryden…
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