Federal Budget gives boost to First Home Loan Deposit Scheme - Raiz Invest

The 2022 Federal Budget announced an increase of places for the First Home Loan Deposit Scheme (FHLDS).

What does this mean?

There are now 35,000 places per year under the FHLDS which allows first home buyers to purchase a first home with a 5% deposit and borrow 95% from an approved lender, paying no Lenders Mortgage Insurance (LMI).

 

New Regional Scheme

A new scheme announced includes 10,000 places per year for the Regional Home Guarantee Scheme. Both citizens and permanent residents will be eligible for the scheme limited to new homes only, as long as they have not owned a property in the previous five years.

 

What other Government programs are in place to help purchase a home in Australia?

The government’s other program includes 5,000 places annually in the Family Home Guarantee, which allows single parents to purchase a home with a deposit of 2%.

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If you would like to find out more about Raiz Home Ownership, please contact the team at home@raizhomeownership.com.au, or register your interest.

 


 

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