Money Magazine

The government helped with my first home deposit

WHAT WE KNOW

The Coalition promised it would do just that if it won the May election and the details of its First Home Loan Deposit Scheme were announced in October.

The scheme will allow up to 10,000 first home buyers a year to get a home loan with a deposit of just 5%, instead of the standard 20%. Normally, if you wanted to borrow with a deposit of less than 20% you’d have to purchase

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