Both the Coalition and Labor are offering help with buying a home on a low deposit.
Their monthly mortgage repayment using the First Home Guarantee scheme would be $3,595, Canstar research found. Assuming prices rise as much over the next decade as they have in the past, the same home could be worth $2,202,300. A seller would then pocket $1,020,285 through the First Home Guarantee, $296,970 more than if they used Help to Buy and profited $723,315.Canstar’s group executive financial services Steve Mickenbecker cautioned low-deposit buyers to check if they could make the higher repayments required of a loan of 95 per cent of their home’s value as interest rates rise.
elizabethredman Domaincomau This article doesn’t assess the decreased cash position of a person in retirement under the coalitions scheme. Let’s take a woman as an example, who misses out on 30 years compound interest on her $50k. ?
elizabethredman Domaincomau In order to take full advantage of this program… a 30yr old 1st home buyer would have to have averaged $100,000 per year in salary throughout their 20’s.. does anyone know someone who has done that and cannot afford to buy
elizabethredman Domaincomau What respectable journalism. I’m out of wine but I still think more people should indulge in your opinion.
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