30,000 government grants for property buyers kick off July 1, 2021

From today, 30,000 new places are available under the Australian Government’s First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee.

30,000 government grants for property buyers kick off July 1, 2021
30,000 government grants for property buyers kick off July 1, 2021

Some 30,000 new places are available under the Australian Government’s First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee from July 1, 2021.

Some 10,000 additional places have been released under the First Home Loan Deposit Scheme for the 2021-2022 financial year. 

The scheme supports eligible first home buyers purchase an established home or a new home sooner with a deposit of as little as 5 per cent.

 

New property price caps will apply from today for the First Home Loan Deposit Scheme.

These property price caps also apply to the Family Home Guarantee, a scheme which was announced in the 2021-2022 Federal Budget to support eligible single parents with at least one dependent child. 

There will be 10,000 Family Home Guarantees made available over four financial years from 1 July 2021 to buy a new or existing home with a deposit of as little as 2 per cent.

The New Home Guarantee, announced in October 2020, is specifically for eligible first home buyers building or buying a new home with a deposit of as little as 5 per cent.

 

It has been extended under the 2021-2022 Federal Budget with 10,000 new places available from 1 July 2021 to 30 June 2022.

Applications for the three schemes can be made through participating lenders or mortgage providers.

Information about the schemes, price caps, eligibility requirements and how to apply can be found on the updated website here.
 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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First Home Buyer First Home Loan Deposit Scheme

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