| Grant/Scheme | Details | Value |
|---|---|---|
| First Home Guarantee and Family Home Guarantee Scheme | > Eligible buyers can purchase with a 5% deposit (lenders criteria apply). > Eligible single parents can buy a house with a 2% deposit. > No lenders mortgage insurance (LMI) needed. > Up to 40,000 guaranteed loans per financial year (both schemes combined). > Property value must not exceed $600,000 for Adelaide and regional centres. > Property value must not exceed $450,000 for the rest of the state. | Insurance savings depend on the value of your property. |
| First Home Super Saver Scheme | > You can withdraw up to $15,000 per financial year, up to a total of $50,000 across multiple years for payment towards your home loan. | Lower cash deposit required to buy. |
| First Home Owner Grant | > New homes off the plan, new builds or substantially renovated homes. Note there is no longer a property value cap for the First Home Owner Grant as of 6th June 2024. | ≤$15,000 |
| HomeStart | > SA government backed lender only. > You can avoid additional loan charges. > Starter Loan of up to $10,000, seven-year term with no repayments or interest(it is a secondary loan type). > Eligible if your household income is ≤$75,000 (singles) or ≤$100,000(couples). > You will need to cover the deposit. | $10,000 (Must be paid back at completion of term). |
| Maximum total support available ($) | Scheme eligibility may be subject to income caps, property value & other criteria. | $25,000 + insurance savings |
How much deposit do I need?
If you qualify for the First Home Guarantee (FHBG) Scheme you could buy for as little as 5% deposit. That’s only $25,000 for a $500,000 home, or $40,000 for a $800,000 home!
This is a paid partnership with Nectar Mortgages PTY LTD (credit representative 446035) who is a Credit Representative of QED Credit Services PTY LTD (Australian Credit Licence number 387856). All enquiries are sent directly to Nectar and handled by their team of brokers. NZRelo cannot be held liable for your enquiry and the steps you take after submission. All loans are subject to suitability, lender policy, terms & conditions. Rates available at the time of publishing 06/06/2024.
Your entitlements are subject to your personal circumstances and eligibility is at the discretion of the relevant agencies in your state.
