Grants Available

Support Options to Reduce Your Deposit and Avoid LMI

What is the Home Guarantee Scheme?

The Home Guarantee Scheme (HGS) is an initiative of the Australian Government, overseen by Housing Australia, with the goal of aiding qualified home buyers in securing a home sooner.

The scheme features three key programs:

First Home Guarantee: This program permits first-time buyers to obtain a home with a deposit as low as 5%, without the need to pay Lenders Mortgage Insurance (LMI).
Regional First Home Buyer Guarantee: This program allows individuals in regional areas to purchase a home with a 5% deposit and eliminates the requirement for LMI.
Family Home Guarantee: This initiative assists eligible single parents or legal guardians who have at least one dependent, allowing them to buy a home with a deposit starting at 2% without LMI.

What is the First Home-Owner Grant?

The First Home-Owner Grant (FHOG) is a single payment intended to support first-time home buyers. This is a national program, financed by the Australian Government and managed by the respective states and territories. The amount of the grant and the eligibility requirements differ based on the location of the purchase, and it is accessible solely to individuals who fulfil all the specific criteria set by the states.

What Is Stamp Duty and Why Is It Relevant?

Stamp duty, which is also called transfer duty, is a government tax that is payable when acquiring a property. The expense can escalate to tens of thousands of dollars, alongside your deposit and other fees. Fortunately, if you are a first home buyer, you might qualify for significant savings or even a complete exemption, depending on your residence and the property's value.

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I have known Paul for a number of years now and he has assisted be with various services from re-financing loans to new home loans for house purchases. All my experiences with him have been positive. His ability to respond in a timely manner to lender issues, providing financial advice and constantly keeping me in the loop during all steps is very comforting. I would highly recommend him to others who require similar services. Thanks Paul for all your help over the years.

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Paul has been absolutely amazing! Going over and above to get the best deal for myself and my family. I would recommend him to anyone who is looking for a Mortgage Broker who will keep your best interests at heart and get you the best outcome.

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Frequently Asked Questions

Should I go directly to a bank or use a broker?

Banks will only offer their own products, which may not be the best fit for your situation. A broker compares a wide range of loan options from different banks and lenders to help you find the right solution. Brokers are also legally required to act in your best interest, while banks are not held to the same standard.

Is there a cost to use a mortgage broker?

In most cases, you won’t need to pay a fee for our service. Mortgage brokers are typically paid a commission by the lender you proceed with. If you're unsure or would like to learn more, feel free to reach out with any questions.

Is pre-approval necessary for an investment loan?

Yes, getting pre approval is an important step when purchasing an investment property. It means the lender has reviewed your financial situation and confirmed the maximum amount they are willing to lend. This helps you understand your budget and makes you more confident when you are ready to make an offer.

What happens to my home loan if I move to a new property?

If you are buying a new home, you usually have two options for your loan. You can refinance with your current lender or a new one, or you can pay off your existing loan and apply for a new one for your next property. A broker can help you understand what you can afford and which option might suit you better.

How can I choose the right investment loan?

The best investment loan will support your financial goals, whether you are focused on increasing cash flow or building long term value. One of the first things to consider is whether you want a fixed or variable interest rate. Each lender offers different loan features, so working with a broker can help you find the right loan with the right structure for your needs.

What are the fees involved in buying a property?

There are several extra costs that come with purchasing a property, and they are not always explained clearly. These can include stamp duty, loan application fees, building and pest inspections, and other charges. Speaking with a broker can help you understand all the costs upfront and avoid unexpected surprises.

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INTERNATIONAL LENDING GROUP PTY LTD ABN: 31 668 903 688. Credit Representative #513915 is authorised under Australian Credit License #517192

Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.