A HELPING HAND FOR FIRST HOME BUYERS
QLD GOVERNMENT FHOG CURRENTLY $15,000.
THE TEAM AT ROSS RIVER ESTATE are working with a local home loan broker in order to make the first step onto the housing ladder much easier for first home buyers.
The biggest problem facing first home buyers is saving the 5-20% deposit, so we are helping first home buyers get into their new home sooner by accepting the government’s First Home Buyers Grant as part of the deposit.
Get Into Your New Home FROM JUST $3000 DEPOSIT!
How can a first home buyer get into their home with ONLY $3000 DEPOSIT?!!
Ross River Estate is working to get First Home Buyers into their own home easily by already constructing ready built homes. With many buyer incentives from the Government, Military and developers, and if you are an eligible first home buyer, we can help you secure finance to buy your new home in the Ross River Estate sooner.
Eligible applicants can use the First Home Owners Grant towards the deposit.
To Qualify For A Loan You Must Have The Following
- 6 months in current employment or 2 years continuous employment in same industry
- 5 years clear credit history (no defaults, judgement or listing.) Credit checks available from our financial specialist.
- Low unsecured debt position
If you cannot meet this criteria there other options available! Do you have any to the following?
- A family member that has equity in the home and is willing to use this to help secure your loan, OR
- A minimum of 6 months current good rental conduct through an agent in your names OR
- A gift or lump sum that can increase your deposit to 10% (This 10% can include FHOG, gifts, lump sums and savings)
Meet with our financial specialist on site to explore all your options today.
Example Repayments Based On One Of Our Current ‘Ready Built Homes’
3 Bed house priced @ $357,000 HOUSE – NOW $3000 Deposit + First Home Owners Grant
To purchase based on $3000 deposit your total loan (ready built only) will be approximately $354,440
Repayments based on a variable rate of 4.4% will have you paying approximately $444 per week.
To purchase based on $6400 deposit +FHOG your total loan (ready built only) will be approximately $347,440
Repayments based on a variable rate of 3.77% will have you paying approximately $370 per week.
To purchase based on $13,500 deposit +FHOG your total loan will be approximately $339,150
Repayments based on a fixed rate of 3.18% will have you paying approximately $339 per week.
4 bed house priced @ $379,000 HOUSE – NOW $4000 Deposit + First Home Owners Grant
To purchase based on $4000 deposit your total loan (ready built only) will be approximately $374,440
Repayments based on a variable rate of 4.4% will have you paying approximately $468 per week.
To purchase based on $7,800 deposit +FHOG your total loan (ready built only) will be approximately $369,840
Repayments based on a variable rate of 3.77% will have you paying approximately $393 per week.
To purchase based on $15,250 deposit +FHOG your total loan will be approximately $360,050
Repayments based on a fixed rate of 3.18% will have you paying approximately $359 per week.
First Home Super Saver Scheme (FHSSS)
WHAT IS IT?
The First home super saver (FHSS) scheme was introduced by the Australian Government in the Federal Budget 2017–18 to reduce pressure on housing affordability.
The FHSS scheme allows you to save money for your first home inside your superannuation fund. This will help first home buyers save faster with the concessional tax treatment of super.
How does it work?
From 1 July 2017, first home buyers can start making voluntary concessional (before tax) and non-concessional contributions in order to save for a deposit.
You can contribute a maximum of $30,000 over two years, with your contributions capped at $15,000 per year.
The benefit is that when you contribute these funds you’ll get a 30% discount on your marginal tax rate (including the Medicare levy).
To explain, if you earn $60,000 a year, your marginal tax rate would be 32.5% (income tax rates for 2017/2018 year), so you’ll get a discount from that.
You’ll earn interest on the funds you contribute and you’ll be able to withdraw these funds from 1 July 2018.
For further information about this scheme please visit this website or ask us at our open home.
Terms & Conditions
*All options shown here are based on a Liberty Finance Loan, Pepper or Westpac with non-genuine savings and based on a 3.18% – 4.4% interest rate.
All figures listed above do not include legal/conveyancing costs or govt fees in the minimum deposit required.
Allow for approximately $2000 for conveyancing and the government fees as required.
Information is subject to change without notice. All applications for loans or credit are subject to normal lending criteria of the institution providing the loan or credit. Terms, conditions, fees and charges may apply. Whilst all care has been taken in compiling information in this brochure, and it is provided in good faith, this information is not to be relied on as a substitute for professional advice. Ross River Estate accepts no responsibility for the accuracy, completeness or timeliness of the information. For more information contact your Ross River Estate representative.