Who is eligible for the scheme? Flashcards
1
Q
Eligibility
A
- Australian citizens who are at least 18 years of age. Permanent residents are not eligible.
- Individual applicants with a taxable income of up to $125,000 per annum for the previous financial year
- Couples with a taxable income of up to $200,000 per annum for the previous financial year.
- FHLDS assists single (individual) applicants and couples (together) who have at least 5% of the value of an eligible property saved as a deposit.
- Loans under the FHLDS require scheduled repayments of the principal and interest (P/I) for the full period of the loan.
- Applicants must intend to be owner-occupiers of the purchased property, investment properties are not supported by the FHLDS.
- Applicants must be first home buyers who have not previously owned or had an interest in a property in Australia, either separately or jointly with someone else (this includes residential strata and company title properties)
