Скачать или смотреть Australian First Home Buyers Tapping Into Government with Home Guarantee Scheme in 2024

The Home Guarantee Scheme is designed to help Australians buy their first home sooner.

The HGS has already helped over 156,000 Australians purchase their own homes. Let's see how it can support you too. The First Home Guarantee (FHBG) is part of this scheme, allowing eligible buyers to purchase a home with just a 5% deposit. Under the FHBG, Housing Australia guarantees part of the home loan, helping buyers avoid Lenders Mortgage Insurance.

To qualify, you must be an Australian citizen or permanent resident, at least 18 years old, and meet specific income requirements. Eligible properties include existing homes, house and land packages, and off-the-plan apartments. Price caps apply based on location.

Property price caps are set by the government and vary by location. These caps help determine the maximum purchase price for eligible properties. For example, in VIC, the cap is $800,000 in capital cities and $650,000 in other areas. Each state has its own limits.

Applications must be made through a Participating Lender. It's important to seek independent financial and legal advice to ensure the home loan and scheme terms suit your personal circumstances.

To apply for the Home Guarantee Scheme, you need to go through one of the 33 Participating Lenders or their authorised representatives. They assess income using the Notice of Assessment from the Australian Taxation Office.