The First Home Loan Deposit Scheme is the new initiative of the Australian Government to support eligible first home buyers purchase a home sooner.

The Scheme will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 per cent.

BUT it will be only open to 10,000 loans annually beginning January 1^st 2020.

Knowing about the First Home Loan Deposit Scheme is one thing, understanding the application process and how to apply is another.

Colliers International Toowoomba can provide you with the power to proceed with the Loan with a transparent framework that will guide you throughout the entire process towards owning your first home.

The National Housing Finance and Investment Corporation (NHFIC) has also launched an interactive online eligibility tool to assist first home buyers and their representatives understand their potential eligibility for the Australian Government’s new First Home Loan Deposit Scheme.

The new interactive questionnaire, available at https://www.nhfic.gov.au/what-we-do/fhlds/eligibility/, guides applicants through the key Scheme eligibility criteria.

The tool is provided as a guide only and does not mean that people using it will receive either a guarantee or a loan from a participating lender.

The eligibility tool complements the property price lookup tool that has also been developed to assist first home buyers determine the property price threshold that applies under the Scheme in relation to properties in every suburb around the country.