Achieve your dream home with the Help to Buy Scheme.

Buying a home is a significant milestone, and for many Australians, it can feel like a daunting task. But with the Australian Government’s Help to Buy scheme, your dream of home ownership is closer than you think. At FinancePath, we’re here to guide you through this fantastic opportunity and help you make the most of it.

Let’s dive into how the Help to Buy scheme can benefit you.

What is the Help to Buy Scheme?

The Help to Buy scheme is a shared equity program designed to make home ownership more accessible for Australians. Under this scheme, the government provides an equity contribution of up to 40% for new homes and up to 30% for existing homes. This means you can buy a home with a smaller deposit and a more manageable mortgage.

Who is eligible?

To qualify for the Help to Buy scheme, you must meet the following criteria:

• Be an Australian citizen and at least 18 years old.
• Have a yearly income of less than $90,000 for individuals or $120,000 for couples.
• Not currently own any other property in Australia or overseas.
• Intend to live in the home you purchase.

Benefits of the Help to Buy Scheme

1. Lower deposit requirements: With the government’s equity contribution, you can secure a home with a deposit as low as 2%. This makes it easier to save up and get into the property market sooner.
    
2. Reduced mortgage payments: The government’s contribution reduces the size of your mortgage, leading to lower monthly repayments. This can significantly ease your financial burden and make home ownership more affordable.
    
3. No Lenders Mortgage Insurance (LMI): By participating in the Help to Buy scheme, you can avoid the costly LMI, which is typically required for loans with a deposit of less than 20%.
    
4. Access to a range of properties: The scheme covers various property types, including houses, townhouses, and units, giving you the flexibility to choose a home that suits your needs and lifestyle.

How to apply

Applying for the Help to Buy scheme is straightforward. At FinancePath, we’ll assist you every step of the way.

Here’s how to get started:

1. Check your eligibility: Ensure you meet the criteria mentioned above.
    
2. Get pre-approved: Contact us to get pre-approved for a loan with one of the participating lenders.
    
3. Find your dream home: Start your property search and find a home that fits within the scheme’s price caps.
    
4. Complete the purchase: With our guidance, complete the necessary paperwork and secure your new home.

The Help to Buy scheme is a game-changer for first home buyers in Australia.

With lower deposit requirements, reduced mortgage payments, and no LMI, it’s never been easier to step onto the property ladder. At FinancePath, we’re committed to helping you achieve your home ownership dreams.

Contact us today to learn more about the Help to Buy scheme and start your journey to owning your dream home.