P.P.S - You may have a few extra questions before you take the first step
If so...
Questions 1 - Am I allowed to rent the house out?
It's your house, you are free to rent it out if you like.
Question 2 - What is the minimum income I need to be able to take advantage of this opportunity?
To be able to get bank approval for the mortgage on the home you choose, The homes start at around $550,000 for those you will need at least $100,000.00 household income…
That is the combined income of you (and your spouse/partner if applicable).
You can also look at buying with a sibling or friend.
NB If you have other debts, children or existing liabilities your income may need to be a little higher.
Question 3 -
How Much deposit do I need saved?
All you need is $5,000 cash saved.
Question 4 - Are there any fees?
When you buy any home, you will have some standard costs like conveyance fees, registration and transfer fees, valuation and bank fees ($2-3k).
With The Home First program you will still have these standard costs.
Question 5 - What happens if I want to sell the house – Am I locked in or can I repay your contribution sooner?
Life changes and you may want to sell the home in a few years. You can sell your new home or repay our contribution for the deposit at any time without any costs from us.
If you do want to sell, you will need to let me know before you sell so we can arrange to have our contribution repaid out of the proceeds of the house sale.
Question 6 - How do I repay the contribution for the deposit?
That is up to you but most people will use the future increase in the value of their home to pay off the deposit.
In a few years time you can refinance and redraw any increases in the houses price to pay back the deposit.
If you would prefer to make periodic lump sum payments instead you are free to do that.
Question 7 - What is the interest rate on the home loan.
?
We have a few banks that we like to use. At the moment the interest rates are from 2.39% pa!
Question 8 - Tell me about the homes available…
We have a range of homes available ranging from 1 bedroom apartments to 4 bedroom free standing houses!
After we have received your details my team will assesses if you qualify. After that we will forward all the details on the available properties so you can make sure you are 100% happy with the home.
If you want to stop wishing, dreaming and hoping to one day own you own home NOW IS THE TIME.