Understanding the First Home Owners Grant with BrokerCo

Listen to our very own Paul Westcott explaining the ins and outs of the First Home Owner Grant and various schemes to Jade Harrison from Hot 91’s, Hot Property.

The First Home Owners Grant (FHOG) is a fantastic starting point for many aspiring homeowners. Currently, eligible first-time buyers can receive a $30,000 grant, providing a significant boost towards your deposit and bringing homeownership within reach.

Government Guarantee Schemes

In addition to the FHOG, the government offers a range of schemes that can further ease your path to owning a home. There are a range of schemes that allow you to secure a mortgage with a deposit as low as 2-5%, with the government acting as your guarantor. This reduces the financial pressure of saving for a large deposit and speeds up the process of getting into your new home.

Qualifications and Income Thresholds

To qualify for these grants and schemes, you’ll need to meet specific criteria. Key factors include your income level, with different thresholds set for single applicants. It’s crucial to understand these requirements to ensure you’re eligible and can take full advantage of all the support available.

How BrokerCo Can Help

At BrokerCo, we’ve seen a significant increase in clients leveraging these grants and schemes to secure their first home. With properties becoming more competitive, especially at lower price points, having your paperwork ready and understanding your options is critical.

Start Your Journey with BrokerCo

Don’t let the complexities of homeownership deter you. With BrokerCo’s expert guidance, you can confidently navigate the various grants and schemes available. Contact us today to get started on your journey to owning your first home. Our team are here to support you every step of the way.

Contact us to schedule a consultation and take the first step towards your new home with BrokerCo!

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