First Home Buyers - Where are you?

Over the last few months we have seen a reduction in the number of first time buyers that are looking for finance.
This could be due to a number of possibilities, some of which are:
- higher deposit amount needed
- stricter lending criteria
- removal of some family guarantee loans
- uncertainty with interest rates.....

However, now is actaully a great time for new buyers to come into the market.  Home prices are stable, rates have dropped and lenders are starting to reduce the deposit amounts required. 
If you are realistic and looking to get into a modest home, you will only need a 5% deposit.  This is worked on the purchase price of the home.  Also, if income allows, you limit the amount of the purchase to $500,000 or less, you won't even have to pay stamp duty.  Thats's a huge saving.

Don't forget that First Home Buyers also qualify for a government grant of $7,000.  These monies can be used towards fees, and in some cases, towards the deposit.
There is no difference in the amount of the grant whether you are buying an established home or building.

If you can further limit the purchase price to below $400,000, then you can access another grant called the Home Buyers Assistance Fund.  This is an amount of up to $2,000 which is paid after the settlement of the loan.  Conditions apply.

So, if you are new to the property market why wait?  Speak to the Team @ Diversifi to see if you qualify for a loan now.  Ph: 1300 55 99 49.

While we have taken all reasonable care in producing the information contained in this article, we do not promise that it contains all the information you need to answer all your questions. This document is for information purposes only, and must not be relied upon as a substitute for professional services or legal advice. Diversifi Pty Ltd does not guarantee the accuracy of information provided by third parties linked to this site.