What is the Housing Australia Scheme?
What is the Housing Australia Scheme?
The Housing Australia Scheme is an Australian Government initiative designed to assist eligible individuals and families purchase homes sooner by reducing the financial barriers to home ownership. The scheme encompasses several programs, each targeting specific groups and offering unique benefits:
1. First Home Guarantee (FHBG):
Objective: To support eligible first-time home buyers in purchasing a home with a deposit as low as 5% without the need for Lenders Mortgage Insurance (LMI).
Details: Housing Australia guarantees up to 15% of the property's value, allowing buyers to secure a home loan with a smaller deposit. For the financial year 2024-25, 35,000 places are available under this program.
2. Family Home Guarantee (FHG):
Objective: To assist eligible single parents and legal guardians with dependents, including those who are not first-time buyers, in purchasing a home.
Details: This program enables eligible individuals to buy a home with a deposit as low as 2%, with Housing Australia providing a guarantee of up to 18% of the property's value.
3. Regional First Home Buyer Guarantee (RFHBG):
Objective: To support eligible first-time home buyers in regional areas to purchase a home sooner.
Details: Similar to the FHBG, this program allows buyers in regional locations to secure a home with a low deposit, with Housing Australia providing a guarantee to the lender.
If you’d like more information on the Schemes with eligibility tools, click the buttons below or why
If you have further questions or need assistance with the application process, feel free to ask and connect with us by booking a complimentary online meeting 😊 or phoning us on 0417 693 281, or Text and start your home purchasing journey today.
