Take Advantage Of First Home Buying Assistance

If you're new to the property market, it may be that buying a house feels like an uphill battle.

Luckily, first home buyers needn't feel outnumbered or outgunned, for there are schemes in place in every state to help them achieve home ownership.

One of the extra costs you need to budget for when buying property is the stamp duty fee.

The good news for first home buyers is that by satisfying eligibility criteria, they can qualify for concessions on this tax – which can make a big difference to how much you need to save.

There is also the first home owner grant scheme. This is available to eligible first home buyers who are purchasing a principal place of residence.

The conditions of eligibility vary by state, as does the amount of the grant. It pays to check your state's current grant policy – it may favour new homes over existing ones, for example.

A mortgage broker can discuss your eligibility for both the first home owner grant and concessions on stamp duty, and will take you through each step of the application process.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.

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