Being a first home buyer can be an overwhelming experience without expert advice to help guide you along the way. At Propel Finance we strive to ensure gaining finance is a smooth and streamlined process. Contact us today so we can assist you with any first home buyer queries.
In the meantime, take a look through our first home buyer info below.
With so many different loan products on the market, finding a home loan is not as simple as it used to be. There is a range of options available to you that may save you money and provide you with greater flexibility and peace of mind.
Propel Finance consultants use their expertise and experience in the home loan market coupled with a unique computer software program that enables them to compare hundreds of loans in a matter of minutes. Our consultants will then be able to provide you with a short list of loans that are both competitive and suitable – simplifying the loan selection process.
The Federal Government introduced the FHOG in 2000 to assist first home buyers with the costs of purchasing their first home. It was implemented at the same time as the GST was introduced and was also aimed at offsetting the effect this tax could have towards first home buyers.
When introduced it was a non means tested grant of $7,000. In recent times we have witnessed changes to the scheme which has seen the initial grant boosted as high as $21,000.
The FHOG is a national scheme which is administered by each state and territory. As such, there may be different incentives offered in each area such as reductions in stamp duty or other concessions.
We can help you to access the first home owner benefits you may be entitled to and can discuss your eligibility to these funds. Please call us today to discuss your situation.
Note that if you are purchasing the property in conjunction with other people, they must also meet the same criteria for the grant to be available.
Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in.
• Building and pest reports
• Valuation fees
• Lenders mortgage insurance (LMI)
• Solicitors fees
• Utility connection fees – phone/gas/electricity
• Council and water rates
• Removal costs