A first home buyer in Ipswich says the First Home Loan Deposit Scheme, one of many government initiatives that support eligible first home buyers to purchase a home sooner, has saved him thousands of dollars and helped achieve his dream of home ownership much sooner.
33-year-old Kane Ramon has bought a property in the Ipswich suburb of Yamanto which he views as potentially a “forever home”.
Ipswich is one of the most popular suburbs to access the scheme, with a report on the scheme showing it was second in Queensland for take-up.
Ramon, an engineer who serves in the Defence Force says the process was remarkably simple, but he switched from Suncorp to Defence Bank to take out his home loan because they better understood his requirements.
“Obviously being a first homeowner, I had some questions, but Defence Bank was always happy to help out.
“Every question I had, Donna (one of Defence Bank's home loan consultants) knew the answers or was able to direct me to find the right answer.
“I did know about the first homeowner’s scheme, but I wasn’t sure how it all worked and what I was eligible for, so Donna did explain that side of things to me, the nuts and bolts of how it all worked.”
Ramon’s new home features four bedrooms, hardwood floors and is set on 1300 square metres.
The double story house adjoins a creek bed with potential for an expanded back deck and entertainment area to capture the view.
Ramon says because he’d established a savings plan, finding his new home was a lot easier than he thought.
“It didn’t take me long at all as I had the deposit before I even joined the army three years ago.
“I did my research, and I probably did 80% of the home loan application process in branch. Any questions I had I gave Defence Bank a quick call and Donna was more than happy to help or give me a call back the same day and follow up with me.”
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*Only FHLDS (New Homes) places available. Eligibility and lending criteria apply.
Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.