Free yourself from the rent trap with the Family Home Guarantee!
Single parents who are struggling to save a home loan deposit now have the opportunity to break free from the rental cycle with only 2% deposit.
In a pre-budget announcement, the Government revealed plans to establish a new program called the Family Home Guarantee.
The new program will provide eligible single parents with dependants the opportunity to build a new home with a deposit of 2 per cent, subject to the individual’s ability to service a home loan.
From 1 July 2021, 10,000 Family Home Guarantees will be made available over four financial years.
This is the perfect helping hand for single parents stuck in a rental cycle because of an inability to save the required home loan deposit.
If you would like to find out more about how you can take advantage of the Family Home Guarantee, contact one of our consultants. Sherridon Homes have house & land packages available that will suit this program.
The Family Home Guarantee is aimed at single parents with dependants, regardless of whether that single parent is a first home buyer or previous owner-occupier. Applicants must be Australian citizens, at least 18 years of age and have an annual taxable income of no more than $125,000. More information can be found at the NHFIC (National Housing Finance and Investment Corporation) website.