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First Home Buyer
First home buyer - find out if you're ready
Step 1 - Use our FREE first home buyer calculator
Discover the path to your dream home with our First Home Buyer Calculator! We've designed this tool to quickly determine if you're ready to buy your first home. In just a few seconds, you'll know whether your deposit is sufficient and if you qualify for the Government's First Home Guarantee scheme. Once you have your answer, you can confidently browse listings to see what’s within your reach. Don't wait to find out if you can step into the property market — try our calculator today and take the first step towards homeownership!
Step 2 - What's the Government First Home Guarantee?
The First Home Guarantee (FHBG), part of the Australian Government’s Home Guarantee Scheme (HGS), aims to assist eligible home buyers in purchasing a home sooner. This initiative is managed by Housing Australia on behalf of the government.
Through the FHBG, Housing Australia offers a guarantee covering up to 15% of the property’s value, as assessed by a Participating Lender. This support allows eligible buyers to secure a home loan with as little as a 5% deposit, bypassing the need for Lenders Mortgage Insurance.
It’s important to note that this guarantee is not a cash payment or an actual deposit toward the home loan, and specific eligibility criteria must be met to qualify. To find out if you’re eligible, click here.
Furthermore, if you have a 20% deposit (of the purchase price), you don’t need to rely on the First Home Guarantee.
Step 3 - Time to get in touch
Contact David Cavigan, Mortgage Broker, using the form below and we’ll guide you through the process of securing pre-approval, putting you in a position of strength and confidence, ready to make your move.
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