FIRST HOME BUYERS
Home loan calculator
Here’s a quick and easy way to find out how much you can borrow and the finance options are available to you. If you’d prefer to speak to someone directly, fill out a quick enquiry form.
Government Grant & Schemes
Understand the ways you can get into your first home sooner.There are a number of grants, schemes and initiatives that are offered by the State and Federal Government that you can take advantage of. Your local pro will understand what you need to qualify for the different options, so make sure you get in touch with someone to ensure you have all of the facts.
Family Home Guarantee
The Family Home Guarantee is designed to help single parents get into (or back into) the property market and get out of the rent trap. Single parents with at least one dependent will be able to buy a home with a deposit of just 2%! The Government will then guarantee the remaining 18%. This means no Lenders Mortgage Insurance, which we know can be a barrier for people building their own home.
New changes to eligibility:
- Permanent residents are included
- Friends, siblings, and other family members will also become eligible for joint applications
- Available to guardians as well as parents
- Available to second home buyers who haven’t owned a property in 10 years
First Home Owner’s Grant
The First Home Owners Grant (FHOG) is a massive win for first home buyers who choose to build. The State Government gives you a one-off payment of $10,000 to help with their loan. The best part is, you don’t need to pay it back!
There are a few basic requirements you need to meet in order to be eligible and your local pro can help guide you in the right direction
First Home Guarantee Scheme
The First Home Guarantee is a government-backed scheme that makes it easier for eligible Australians to purchase their first home. Instead of saving the traditional 20% deposit, buyers may be able to get into the market with as little as 5%. The government then guarantees up to 15% of the property’s value, removing the need to pay Lenders Mortgage Insurance (LMI).
To qualify, you need to:
- Be purchasing your first home (and not have owned property in Australia within the past 10 years)
- Be an Australian citizen or permanent resident aged 18 or over
- Have at least 5% genuine savings for a deposit
- Meet the income and property price caps set by the scheme
- Apply either on your own, with a partner (married or de facto), or jointly with friends or family
First Home Super Saver Scheme
Simply put, the First Home Super Saver scheme allows first home buyers to save money for your home inside their super fund.
Under the scheme, eligible first home buyers, who make voluntary super contributions into their super, can withdraw these amounts (in addition to associated earnings / less tax) from their super fund to help with a deposit on their first home.
If you’re eligible, the maximum amount of contributions that can be withdrawn under the scheme is up to $50,000. (But you don’t need that much to get started!)
Estimate borrowing potential:
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This calculator is only a guide. There may be other products available that are better suited to your needs.
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Speak to someone about your plans. Whether you’re considering building, renovating or developing our experts can guide answer any questions you might have.
Summit South West Office
67-77 Queen Street, Busselton
Bunbury Showroom
4D/42 Strickland Street, Bunbury
Speak to someone about your plans
Whether you’re considering building, renovating or developing our experts can guide or answer any questions you might have.
