REIA urges eligible buyers to explore expanded deposit guarantee schemes

The Real Estate Institute of Australia (REIA) had urged first-time homebuyers and single parents to consider applying for federal deposit guarantee programs after the Morrison government added more places for eligible applicants.

Over the weekend, the federal government announced the addition of 30,000 places for eligible applicants under the First Home Loan Deposit Scheme, New Home Guarantee and Family Home Guarantee from July 1.

“Through our First Home Loan Deposit Program and New Home Guarantee Program, the Morrison Government is helping more first-time home buyers and single-parent families overcome the challenges of saving for a deposit.” and to fulfill the Australian dream of owning your own home, ”said Housing. Minister Michael Sukkar. “With 30,000 new places available starting July 1, now is the time for potential applicants to contact a participating bank or mortgage provider and apply. “

Adrian Kelly, president of REIA, said he welcomed the government’s decision and urged eligible homebuyers to apply.

“Saving a deposit is the hardest part of homeownership, so government support will help alleviate this problem,” he said. “We urge eligible applicants to contact a participating bank or mortgage provider and initiate their application. “

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