Defence Bank is right behind the Australian Government’s First Home Loan Deposit Scheme.
An initiative that supports eligible first home buyers purchase a home sooner.
The scheme provides a guarantee to allow eligible first home buyers to purchase a home with a deposit of as little as five (5) per cent. However, the scheme is supporting only a limited number of home loans. Applications with Defence Bank start 1 February 2020. First in, best addressed.
The Australian Government also released an additional 10,000 places for the 2020-2021 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).
How does the scheme work with DHOAS?
The scheme applies to Defence Bank’s competitive range of existing home loan packages including the Defence Home Ownership Assistance Scheme (DHOAS).