UP to 10,000 first home buyers will be able to apply for the National Housing Finance and Investment Corporation’s scheme for the new 2020-21 financial year, starting from today.
The First Home Loan Deposit Scheme allows eligible buyers to enter the market with a deposit of 5% and the federal government guaranteeing 15% of the assessed property value to a participating lender.
“To date we’ve seen widespread appeal of the scheme across all states and territories, including regional and metro areas,” NHFIC CEO Nathan Dal Bon said.
“Notwithstanding the current challenges posed by COVID-19, we anticipate that there will be continued demand for these new 10,000 places,” Bon said.
Applications from 1 July will require a ATO 2019-20 Notice of Assessment to demonstrate that their taxable income is no more than $125,000 for individuals and $200,000 for couples.