Government employee & FIRST HOME BUYER…
USE YOUR FIRST HOME SUPER SAVER SCHEME + your FIRST HOME OWNERS GRANT.
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 USING ALL MEANS POSSIBLE.
The biggest problem facing first home buyers is saving a deposit, so we are helping first home buyers get into their new home sooner by using all government grants and incentives as part or even all of the deposit required.
Get Into Your New Home WITH ZERO SAVINGS!
How can a someone get into their home with ZERO SAVINGS?!!
Ross River Estate is working to get First Home Buyers into their own home easily by 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 Super Saver (FHSS) Scheme towards the deposit.
To Qualify For This Loan Through Advertised Bank, You Must Have/Meet 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.
- Have or be directly related to someone with a university degree or be an emergency worker.
- Low unsecured debt position
- Purchase a Ready Built Property
If you cannot meet this criteria there may be other options available! Could 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’
$358,000 HOUSE – FHSS Deposit + First Home Owners Grant
To purchase based on FHSS deposit your total loan (ready built only) will be approximately $354,440.70
Repayments based on a split variable & fixed rate for 3 years at 3.88% will have you paying approximately $394 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. All government workers are already doing this through their current schemes.
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 this weekend.
Terms & Conditions
*All options shown here are based on a Teachers Mutual Bank Loan with non-genuine savings and based on a 3.88% – 5.2% 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.