Understanding the First Home Guarantee (FHBG) and Home Guarantee Scheme (HGS)
Introduction
Australian gov has developed this scheme to help and support the First Home Buyers in Australia. The core support of this scheme is to help Australians become homeowners. Expert mortgage brokers for First Home Buyers at VOXFIN have helped many Australians in Australia. We have earned the reputation as the best mortgage brokers in Melbourne and the most trusted mortgage brokers in Australia by client satisfaction and 5-star Google and Facebook reviews.
How does this work?
The Australian Government is encouraging Australians to become homeowners through this scheme. However, the scheme has some eligibility criteria as well. Only Australian Permanent Residency and Australian passport holders are eligible to form part of this scheme. There are more details on the website: https://voxfin.com.au/first-home-guarantee-scheme-and-first-home-grants/
Let’s talk about the core benefits of a 5% deposit scheme for you as first-home buyers:
- You can buy your first property in Australia with a minimum of 5% deposit. This is a great opportunity to get into the Australian property market sooner. This will get you into your wealth-creation journey.
- You will save 100% on LMI that might incur on your loan amount if you borrow more than 80% of your property value, which triggers LMI. This cost of LMI would be covered by this 5% deposit scheme by the gov, and the best part is that you do not need to pay back this amount to the gov.
- As a first home buyer, you can save on your stamp duty as well if you purchase a property value up to no stamp duty threshold. For more information, check the voxfin.com.au website.
At VOXFIN, expert first-home buyers mortgage brokers work with you. We guide you step by step, from getting you a preapproval to stamp duty concessions, to negotiating with the real estate agents to finding the right conveyancer to home loan product selection, to loan structure and settlement.
We work for you, we negotiate internally with lenders and banks to get you the lowest interest rate on your home loan and minimising the loan fees for you.
We work hard to help you create wealth for you through our expert knowledge and vast experience. Even when you are not yet ready to buy your first home and not sure where to start. No problems. We’ll guide you with the appropriate and right information to make you a homeowner in Australia. We work to build enduring professional relationships so we can assist you in achieving your financial goals. Highly educated and the most trusted mortgage broker in Australia is going to work with you.
Let’s get started:
Contact: 03 70652000
Email: info@voxfin.com.au