It’s no secret that the market is in a bit of a slump right now. This is great news for buyers because for the first time in a long time you can pick up a nice slice of land at a nice price. However, a lot of homebuyers haven’t been able to take advantage of this because it has become increasingly difficult to get a home loan.
If you’re one of the many people who has struggled to get a loan from a bank due to the increased scrutiny on their lending, you’ll be happy to know that the State Government has made an announcement that could massively benefit you.
Keystart – a government initiative set up to help people get into the property market – is increasing the income limit for their low deposit home loans by $15,000 (singles and couples) and $20,000 (families).
Unlike banks, Keystart doesn’t require costly Lenders’ Mortgage Insurance and the deposit can as little as 2%. As a result, they make homeownership a lot more achievable to a lot more possible. In fact, this increased income limit is projected to result in 11,000 first homes!!!
Keystart’s higher income limit will revert back to normal in June 2020. So you need to act now and take advantage of this great offer as well as the market! If you’ve been putting off getting into a new home because you thought it wasn’t the right time, it’s time to reconsider. See if you qualify for Keystart assistance today.
As a solution to the stress associated with buying a home, turnkey packages lessen the load on homebuyers by offering them a move-in ready home.
Browsing a brochure or a website is one thing, but actually being able to walk through a display home makes your house come to life.