Help to Buy Scheme: New Federal Initiative
Update: 2025-12-04
Description
Discover the new Help to Buy scheme, a federal government initiative helping Australians become homeowners. This shared equity model offers up to 40% for new homes and 30% for existing ones, with a mere 2% deposit required. Commonwealth Bank is the only major bank participating, aiming to bridge the gap between borrowing power and market price. Eligibility includes being an Australian citizen, living in the purchased property, and saving the minimum deposit. Income and property price caps apply. This scheme, unlike others, offers a direct equity contribution, potentially leading to smaller mortgages and lower repayments. Applications open December fifth.
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