The recent Australian Federal Budget 2021-22 announced the new Family Home Guarantee scheme, which, may allow single parents to access the housing market with as little as a 2% deposit.
HomeBuilder Limited Time Grant! How do I get it?
First Home Loan Deposit Scheme FOMO!
The National Housing Finance and Investment Corporation, which is the government body administrating the scheme guarantees to participating lenders up to 15% of the value of properties purchased through finance by an eligible first home buyer’s home loan. This guarantee allows first home buyers to purchase a property with as little as a 5% deposit without having to pay for lenders mortgage insurance.