Buying a home is one of life’s biggest decisions and saving up for a home deposit can be very challenging. If you are a single parent, this may be your ideal opportunity to build your own home in Perth by taking advantage of the Family Home Guarantee.
The Family Home Guarantee (FHG) is an initiative by the Australian Government, designed to help single parents with at least one dependent child purchase a home, regardless of whether they are a first home buyer or are getting back into the property market.
From July 1 2021, 10,000 Family Home Guarantees are available over four financial years to eligible single parents with dependents.
Under the FHG, the Australian Government will guarantee up to 18% of the property purchase price, allowing the homebuyer to purchase a home with a deposit of as little as 2% and without the costly lender’s mortgage insurance. This is an amazing opportunity to get into your own home sooner, without having to save for a larger deposit.
Applicants must be Australian citizens, over the age of 18 and with an annual taxable income for the previous year of no more than $125,000.
Further eligibility criteria and property price thresholds apply – if you are a single parent with dependents, our team is ready to guide you through the full list of eligibility criteria and the application process.
Take advantage of this unique opportunity to get out of renting and build your own dream home in Perth. With designs starting from only $159,900* we can match you with an ideal home design packed with REAL VALUE inclusions to suit your lifestyle and budget.
There are limited spaces available, so you’ll want to get in quickly!
Contact us today to find out if you are eligible.
*Terms and Conditions and eligibility criteria apply – refer to Government websites for further information.
Finance provided by Harrisdale Pty Ltd trading as The Loan Company (Australian Credit License Number 386355)
Blog posted: 8th July 2021
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