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First Home Loan scheme: Buyers now only need 5 per cent deposit – NEWS.com.au
First Home Loan scheme: Buyers now only need 5 per cent deposit
First homebuyers are being helped onto the property ladder sooner with a government incentive allowing them to pay a house deposit of just five per cent. The Federal Government’s popular First Home Loan Deposit Scheme is open to 10,000 eligible first homebuyers.
To be eligible, singles must have a taxable income of less than $125,000, while couples must have earnt no more than $200,000 in the last financial year.
Needing only a five per cent deposit, the Government acts as a guarantor for the …
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