The Government Home Guarantee Scheme
The governments home guarantee scheme is a critical tool first home buyers have available to them.
Typically a first home buyer would be required to save a 20% deposit for their first home. So for a 500K starter home you would be required to save $100,000!
The home guarantee scheme allows first home buyers to proceed with a 5% deposit, drastically reducing the deposit you need to save.
Through this scheme the government retains no ownership over your property, further to this the lender will charge no additional fees like lenders mortgage insurance.
