The federal government has launched an initiative to assist people in entering the housing market for the first time by underwriting home loans for first home buyers. The program provides a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a property with a deposit of as little as 5 per cent and avoid paying lenders mortgage insurance.<\/p>\n\n\n\n
The Government scheme will support up to 10,000 loans each financial year, starting from 1 January 2020. It will operate on a \u201cfirst-in, best-dressed\u201d basis.<\/p>\n\n\n\n
Under the scheme the Government will offer loan guarantees for Sydney properties worth up to $700,000, and $450,000 across the rest of New South Wales.<\/p>\n\n\n\n
Applicants will be subject to eligibility criteria, including having taxable incomes up to $125,000 per annum for singles and up to $200,000 per annum for couples.<\/p>\n\n\n\n
The federal government has launched an initiative to assist people in entering the housing market for the first time by underwriting home loans for first home buyers. The program provides a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a property with a deposit of as little as 5 per…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","two_page_speed":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-845","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n