Last Chance to Save up to $67,000 on Your First Home with the NSW First Home Buyer Choice Scheme

Attention, aspiring first-time homebuyers in  (NSW)! If you’ve been dreaming of owning your own home, now is the time to act. The NSW government’s First Home Buyer Choice Scheme is coming to an end on June 30, offering a final opportunity to save up to a staggering $67,000 on your first home purchase. Your Origin Finance Mortgage Broker can help you through all the terms, conditions, and benefits of this scheme, allowing you to seize this last chance to achieve homeownership while enjoying significant savings.

 

To qualify for the NSW First Home Buyer Choice Scheme, interested individuals must meet the following criteria:

1. Citizenship or Permanent Residency: Applicants must be Australian citizens or permanent residents.
2. Age Requirement: Individuals must be at least 18 years old.
3. First Home Buyer Status: The scheme is exclusively available to first home buyers who have never owned residential property in Australia, either individually or jointly.
4. Property Value Limit: The scheme applies to new or existing homes with a purchase price under the designated threshold, which is currently set at $800,000 for existing properties and $1,000,000 for newly built or off-the-plan properties.
5. Occupancy Requirement: Successful applicants must commit to living in the purchased property as their principal place of residence for a continuous period of at least six months within 12 months of settlement.

Benefits: The NSW First Home Buyer Choice Scheme offers a range of benefits to eligible participants, enabling significant savings and financial relief:

1. Stamp Duty Savings: One of the most significant advantages of this scheme is the potential exemption or concession on stamp duty costs. Depending on the purchase price of your first home, you may be entitled to a full or partial waiver of stamp duty fees, resulting in substantial savings.
2. First Home Owner Grant (FHOG): Eligible participants can also access the First Home Owner Grant, a one-time payment provided by the government to support first home buyers. The grant amount varies based on the property’s location and value, providing additional financial assistance towards your home purchase.
3. Access to the First Home Loan Deposit Scheme (FHLDS): Participants of the NSW First Home Buyer Choice Scheme gain priority access to the Australian Government’s FHLDS. This scheme enables eligible buyers to secure a home loan with a deposit as low as 5% without the need for costly lender’s mortgage insurance (LMI), further reducing upfront costs.

Application Process: To take advantage of the NSW First Home Buyer Choice Scheme, follow these steps before the June 30 deadline:

1. Check Eligibility: Ensure you meet all the eligibility criteria specified by the scheme.
2. Financial Preparation: Arrange pre-approval or secure financing for your first home purchase.
3. Property Search: Begin searching for a suitable property that falls within the scheme’s requirements and price threshold.
4. Lodge Your Application: Submit your application through the NSW government’s designated portal or seek assistance from a registered mortgage broker to navigate the process effectively.
5. Seek Professional Advice: Consider engaging a licensed conveyancer, financial advisor, or mortgage broker to guide you through the application process and maximize your benefits.
6. Settle and Move In: Once your application is approved, proceed with the purchase, settle the property, and enjoy the pride of homeownership.

The clock is ticking for first home buyers in NSW. With the NSW First Home Buyer Choice Scheme concluding on June 30, this represents the last opportunity to save up to $67,000 on your first home purchase. By meeting the eligibility criteria and following the application process, aspiring homeowners can benefit from substantial stamp duty savings, access to the FHOG, and priority access to the FHLDS. Act now, seize this final chance, and make your dream of owning a home a reality while enjoying remarkable financial benefits.

Don’t let this opportunity slip away! Call Origin Finance on 1300 306767 or fill in the enquiry form