First Home Buying 101 for 2024

Great insights ❤

Insightful video mate! Quick question, I own an investment property, I did not take advantage of any first home buyers schemes/grants/concessions. I am currently in the market for my next house but this time with my wife. My wife doesn't own any properties and this will be her first. Are we still entitled to any first home buyers schemes/grants/concessions in NSW?

Good I like

It says that If you move out, you no longer apply for the scheme. What does that mean? Will they start charging you LMI? What if you have ready paid 20% of the property through mortgage repayments?

Good

What are the chances of the scheme being extended do you think? (How long is a piece of string, I know... but thoughts?) :-)

Hi team, just wanted to ask, how good or bad are the interest rates offered by banks to the customers under the first home guarantee scheme. Do they offer you same rates that other client with a 20% deposit will have? Is it worth it to go for that scheme instead of just normal buying

how do I pay it back ? when I refinance lets say a year later and raise the houses value 100K does the governments portion increase with the price of the property ? or do I pay them out at their initial deposit ?

If you only contribute 5% with the FHG, do you make P&I repayments on 80% or the 95%? I asked two banks and got conflicting answers (one says 80% one says 95%). Thank you!