Banner background

Government initiatives

Australia’s federal and state governments offer a range of grants, concessions and low-deposit schemes to help first home buyers get into the market sooner. We can help you find out if you're eligible for one or more of these initiatives.

Australia icon

The Australian 5% Deposit Scheme

Eligible first home buyers or home buyers who haven’t owned property or land in the last 10 years could purchase their first home with as little as 5% deposit and won't have to pay Lenders Mortgage Insurance (LMI). Places are now unlimited – including regional home buyers, with no income caps, increased price caps in many areas nationally. 
House in hands icon

Single parent low deposit option

Available under the 5% Deposit Scheme, if you are single parent or legal guardian with one or more dependent children, you may be eligible to buy your first home with as little as a 2% deposit. Places are now unlimited, with no income caps and increased property price caps in many areas nationally.  Let’s explore the government initiatives you could qualify for, so you don’t miss out on support that could bring your first home closer, sooner. 
Piggy bank icon

First Home Super Saver Scheme  

The First Home Super Saver (FHSS) Scheme helps first home buyers save for a deposit through their super. You can make voluntary contributions of up to $15,000 per year (or $50,000 in total), grow your savings with lower tax rates, and later withdraw a determined amount by the ATO for your first home deposit. Couples, friends, or siblings could each use their own savings to buy the same property. It’s important to speak with a Resolve Finance mortgage broker to see if this scheme is right for you. 

Help to Buy - Shared Equity Scheme

Eligible home buyers in NSW, VIC, QLD, SA, ACT and NT can apply through a participating lender for this shared equity scheme. It will support up to 10,000 buyers each year, allowing them to purchase a property with as little as a 2% deposit.

The Australian Government will contribute up to 30% of the purchase price for existing homes, or up to 40% for new builds.

WA and TAS are not currently participating in the Help to Buy Scheme. 

 

Queenland State Government Initiatives

First Home Owners Grant: Is a $30,000 once-off payment for eligible first home buyers buying or building a new home in Queensland. 

Concessions: Queensland home buyers may get a concession to reduce the transfer (stamp) duty they pay when buying or acquiring a residence or vacant land (on which you build your first home). 

 

Disclaimer

*Eligibility at the discretion of state and/or federal government. Please refer to the Government website:

https://firsthomebuyers.gov.au/.

https://qro.qld.gov.au/property-concessions-grants/. Lenders terms and conditions apply. Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN 65 079 545 378. Australian Credit Licence No.385487. 

christopher-betts

Get in touch with us at North Lakes

0429 114 184
Operating from North Lakes 4509