HOUSING SUPPORT
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* First Home Loan Deposit Scheme will be available for new housing from budget night, October 6, to June 30, 2021
* This will allow an extra 10,000 first home buyers to obtain a loan to build a new dwelling or purchase a newly built dwelling with a deposit of as little as five per cent, with the government guaranteeing up to 15 per cent of the loan
* It can be used in conjunction with the First Home Super Saver Scheme and HomeBuilder, as well as state and territory concessions
* There will be higher price caps, depending on where the home is located: Sydney and regional NSW cities ($950,000), Melbourne and regional Victorian cities ($850,000), Brisbane and regional Queensland cities ($650,000), ACT ($600,000) and NT, Hobart, Adelaide and Perth ($550,000)
* There are 27 participating lenders in the existing scheme, with the National Housing Finance and Investment Corporation soon to confirm participants in the extended scheme.
Australian Associated Press
