What Do I Need to Contribute?
You will need to contribute the balance of funds to complete
the purchase (the difference between the purchase price
and the loan amount) and other costs associated with buying
your property eg. stamp duty.
You will need to provide documentation of the source of
these funds in the form of "genuine savings" such as:
- Bank savings accrued for at least six months
- Term deposits
- Shares
- Existing equity in real estate.
Non-genuine Savings
If you do not have genuine savings you may use funds from
others sources such as
Where non-genuine savings are being used
some restrictions on the amount, which can be borrowed,
and method of repayment may apply.
First Home Owners Grant
The First Home Owner's Grant is a payment to people buying
their first home in which to live. For full details go
to www.firsthome.gov.au
Stamp Duty
The Government requires Stamp Duty to be paid on your
mortgage and on your property purchase. Click here To estimate your
stamp duty.
|
