ACCESS THE FIRST HOME OWNERS’ GRANT EARLY
We’re sure you know about the First Home Owners Grant, but what you might not know is that grant if often not released until after a building contract has commenced and that not all lenders will accept the grant as a part of your deposit.
This means that many first home buyers are still left trying to save a large enough deposit in order to secure a home loan.
This is where we can help! The Elite Wealth Creators team can show you how to access the First Home Owners’ Grant early and we work with the right lender's who allow the funds to be used towards your deposit
FAST TRACK YOUR JOURNEY TO HOME OWNERSHIP
When you buy one of our properties, together with the State Governments generous grant and a little help from us we will work with a lender to get you a home.
Who Can We Help?
Because everyone's situation is unique, we encourage all home buyers to complete our pre-qualification form. Our team can then assess your situation to determine what options may be available to you.
Base Qualification Criteria:
- 18+ and Australian Citizens or Permanent Residents
- Minimum income of $65,000 per year before tax or $85,000 for joint buyers.
- Solid rental history with a lease in your name.
- Clean credit history with no defaults.
If you're eligible for the Government First Home Grant, this can also assist towards your deposit. If you don't meet the above criteria, we may still be able to offer suggestions on how you may be able to qualify.
WE ARE EXPERIENCED MORTGAGE BROKERS
Not all brokers are created equal! The broker you use could make all the difference when it comes to obtaining loan approval or not.
Elite Wealth Creators has strong working relationships with lenders who specialise in low deposits; we are experts who know each lender’s policy inside and out and which lenders welcome low deposit buyers.
This allows us to recommend the best possible mortgage solutions for your personal situation, and it’s the reason our success rate is so outstanding.
We know how to get low deposit applications approved. It could be the extra nudge that gets you over the line on your first step towards home ownership.
WHY CONSIDER THE LOW DEPOSIT PROGRAM?
1- Avoid a personal loan or borrowing money
from family to bridge the deposit gap
2 - Purchase at today’s house prices and benefit
from greater growth in equity
3 - Start putting rent money towards your own asset
sooner, also meaning your home will be paid off sooner
Did you know that it takes the average Aussie around five years to save a 20% home deposit?
Even if five years doesn’t sound long to you, five years within the property market could make a huge difference to the size of the deposit you need.
With continued inflation, the goal posts for your 20% deposit will continue to move further away. If you can’t save at a fast-enough pace to account for inflation, then you may find yourself chasing your tail.
In addition to this, while you are saving your 20% home deposit, you will also be paying rent. By getting into your own home sooner, this is money that you could be put directly into your own asset.
If you pay $450 per week in rent, over 5 years (the average time is takes to save a deposit), that equates to around $117, 000.
Imagine being able to put this money towards your own mortgage.
Image already added
Image already added
STILL NOT SURE?
Don’t forget that lenders take a buyer’s age into consideration.
The younger you are when you apply, the more likely you are to be granted a home loan that spans a longer period of time.
A longer loan term means your repayments will be more manageable and make less of an impact on your lifestyle. Plus, the sooner you get your home loan, the sooner you can pay it off.
Imagine not having to pay a mortgage or rent and how much this would free up your budget. Having your home paid off in your later years will help your retirement funds stretch much further, ensuring a more comfortable standard of living.