First Home Super Saver Scheme

The First Home Super Saver Scheme has been expanded to allow eligible first home buyers to release up to $50,000 of their superannuation to purchase a home, up from $30,000.

The scheme will begin from July 1, 2022.

Family Home Guarantee

Riding off the back of the First Home Loan Deposit Scheme, the government has committed to a “Family Home Guarantee” aimed at helping single parents into home ownership.

Under the guarantee, eligible single parents will be able to build a new home or purchase an existing home with a deposit of as little as two per cent.

The guarantee will be open for applications from July 1, 2021 and will offer 10,000 places over four years.

Only individuals who are deemed to be able to service a loan will be granted a place.

Originally published by Nine News here.