Being a single parent is no walk in the park โ juggling work, school runs, meals, and everything in between can feel like a marathon.
So, if youโre thinking about buying a home, the thought of coming up with a massive deposit might seem impossible.
But guess what? The Family Home Guarantee is here to help, and you only need a deposit as low as 2%. Yep, you heard that right โ 2%!
๐ง๐ต๐ฒ ๐๐ฎ๐บ๐ถ๐น๐ ๐๐ผ๐บ๐ฒ ๐๐๐ฎ๐ฟ๐ฎ๐ป๐๐ฒ๐ฒ is an Australian Government scheme designed specifically for single parents and legal guardians.
Whether youโre buying your first home or youโve owned one before, this scheme makes it easier to secure a place to call your own, without needing to pull together a 20% deposit or pay Lenders Mortgage Insurance.
Instead, you can put down as little as 2% and still be eligible for a home loan โ just imagine the savings on rent!
๐ช๐ต๐ฎ๐โ๐ ๐๐ต๐ฒ ๐ฑ๐ฒ๐ฎ๐น?
The Family Home Guarantee can be used to buy an existing home or even build a new one โ so you can live in a space that suits your familyโs needs. But keep in mind, this isnโt for buying investment properties; the scheme is all about helping you and your kids settle into a home, not building an empire!
To be eligible, itโs fairly straightforward. You need to:
โข Be an Australian citizen or Permanent Resident, aged 18 or over.
โข Be a single parent or legal guardian with at least one dependent child living with you.
โข Have earned less than $125,000 in the last financial year.
Oh, and hereโs a bonus: remember – itโs not just for first home buyers! Even if youโve owned a home in the past, you can still apply for the Family Home Guarantee, which is great news if life threw you a curve-ball and youโre starting over.
๐ฅ๐ฒ๐ฎ๐ฑ๐ ๐๐ผ ๐บ๐ฎ๐ธ๐ฒ ๐๐ต๐ฒ ๐น๐ฒ๐ฎ๐ฝ?
If the Family Home Guarantee sounds like your ticket to home ownership, letโs chat! Itโs a great opportunity to give your family some security without the stress of saving a massive deposit hanging over your head.
Need more details? Reach out to us. Weโre here to help you navigate the process and see if you qualify!
Email: info@getsmart.today
Phone: 1300 113 530
Smart Mortgage Services
โtalking dollars & senseโ