Money Magazine

The government helped with my first home deposit

WHAT WE KNOW

The Coalition promised it would do just that if it won the May election and the details of its First Home Loan Deposit Scheme were announced in October.

The scheme will allow up to 10,000 first home buyers a year to get a home loan with a deposit of just 5%, instead of the standard 20%. Normally, if you wanted to borrow with a deposit of less than 20% you’d have to purchase

You’re reading a preview, subscribe to read more.

More from Money Magazine

Money Magazine3 min read
The Price Is Right – Sometimes
If the expression ‘May you live in interesting times’, usually attributed to the Chinese, was applied to a single ASX sector, I think it would have to be resources. These businesses tend to be price takers and that price is usually nothing if not vol
Money Magazine4 min read
Boost Your Cashflow With Mortgage Funds
Individual investors can now more easily access mortgage funds, an investment opportunity that has traditionally only been available to institutional investors and highnetworth individuals, and benefit from the regular income and diversification adva
Money Magazine2 min read
Leaving A Home At Frame Stage Is A Terrible Idea
Q I find myself in a challenging situation after a builder insolvency. I received $150,000 from the building indemnity insurance, which is in my bank account earning 4.5%. The home is at the frame stage, but an additional $250,000 (the $150,000 build

Related Books & Audiobooks