The 2022 National First Home Deposit Scheme (NFHDS) parameters have now been set and lenders participating in the scheme are now starting to reserve places. The NFHDS allows first home buyers to borrow up to 95% of their property value with no lenders mortgage insurance being applicable, meaning substantial savings in mortgage premiums and interest over the life of the loan.
From the Gold Coast to the Sunshine Coast the good news is that the price cap has now lifted on new and established homes to $650,000, and for the rest of Queensland the new limit is $500,000 - recognition that our market has experienced a big increase in prices.
To get yourself ready for acceptance into the scheme, we strongly recommend that you lodge your tax returns as soon as possible in the new financial year as your approval won’t be formalised until such time as your notices of assessment are provided by the ATO.
We have access to a number of lenders that are participating in the scheme and are here to guide you towards the right lender for your needs and situation.
For single applicants to pass the income test, a maximum income of $125,000 per annum applies; for couples the income threshold rises to $200,000.
You must be an Australian citizen and you must be able to evidence that you have saved or held a minimum 5% deposit.
If you'd like more information about this scheme, get in touch with Bribie Island Lending today.
We are based on the beautiful Queensland coast, between theSunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
Pelican Waters beckons with its idyllic canal front living, providing direct access to the serene waters of Pumicestone Passage. This coastal haven offers a laid-back resort lifestyle, all while being just minutes away from the amenities of Caloundra.
Thinking about buying a house in Caboolture? With its affordable homes, multiple shopping options, rail access to Brisbane, parklands a quick trip to the beaches of Bribie and the Sunshine Coast, Caboolture is on the rise with home buyers.
.jpg)
Discover the power of equity in building wealth and achieving financial goals. Learn how lenders calculate equity and how you can leverage it to purchase investment properties, undertake renovations, invest in shares, or assist family members in buying homes.
We're here to help. Fill out the form below and we'll be in touch.
