First Home Owners Grant as a Deposit

Yes the first home owners grant can be used as a deposit for your home loan.

There are many different lenders with policy that varies but one very important fact to keep in mind is that lenders mortgage insurance, if applicable, can vary.

We have seen variations in excess of $10,000 in lenders mortgage insurance for the exact same loan and borrowers in the past.

Simply structuring your first home buyer loan to reduce lenders mortgage insurance can literally save you thousands of dollars in some cases.

Ability Finance brokers specialise in helping first home buyers choose, structure and apply for a suitable first home buyer home loan. Ability Finance brokers can be contacted on 02 80024035 or by using this email contact form.