The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to help you buy or build your first home sooner.
If you’re eligible you’ll get a limited guarantee from the Australian Government to buy or build your first home with a low deposit of 5%, without paying Lenders Mortgage Insurance (LMI).
There are 10,000 FHLDS places available from July 2021 for the 2021-22 financial year.
An additional 10,000 FHLDS places for new homes are available from 1 July 2021 to 30 June 2022 for eligible first home buyers building or buying new homes.
To read more, there’s not better way than going strait to the https://www.nhfic.gov.au/media/1684/first-home-loan-deposit-scheme-fact-sheet-19-june-2021.pdf
Who can apply?
- Income test: Singles with a taxable income less than $125,000, couples less than $200,000 for the previous financial year. Please note to apply for a place in this scheme from 1 July 2021 to 30 June 2022, you will need to provide the relevant Notice of Assessment from the ATO for the previous financial year.
- Joint applications: Couples are only allowed to apply if they are married or in a de-facto relationship. Other joint applicants (siblings, friends, parent/child, ect) are not eligible.
- Prior Ownership: You must provide proof you have never owned or held interest in property in Australia before. This includes commercial property, investment or company title properties.
- Citizenship: All applicants must be Australian Citizens, aged 18 years or over.
- Owner Occupied: You need to move into the property within six months of owning your home and continue to live in that property for so long as your home loan has a guarantee under the Scheme.
Minimum Deposit Required: 5%
- Check you eligible
- Secure your spot
- Find your new home
- Move in!
If you want know more or apply to secure you place please call 1300 334 514 or email firstname.lastname@example.org
Stay safe everyone