Another First Home Owner House is under Construction – made possible with BuyAssist’s Victorian Home Buyer Support
We love getting an update on the progress of a home’s construction. It’s why we provide homebuyer support funds – to help more people buy their home (and get building!) sooner.
Our innovative, not-for-profit backed affordable housing program can help you to buy land and engage a builder to build your home by providing equity support.
What is BuyAssist Home Buyer Support?
BuyAssist delivers a shared equity homeownership program. This means our investor partner provides equity (funds) to support an eligible household to purchase a new home.
With a minimum 20 per cent home buyer help provided:
* You don’t need a 20 per cent deposit to buy your home
* You don’t pay Lenders Mortgage Insurance
* You only pay interest on your first mortgage. This loan will be for less than 80% of the property price (on average our customer’s loans represent less than 25% of the total property price).
* You buy your home as soon as you meet our homebuyer fund eligibility requirements. No more renting for years until you have saved a deposit.
The equity support is repaid when you either sell, refinance or are no longer eligible. No interest is charged on the equity support.
We are not a co-ownership program – you are 100% on the title from the point of settlement.
Want to apply for BuyAssist shared equity home ownership?
Register to have your initial eligibility checked. If it looks like you meet our criteria then the team will then contact you and ask for additional information to help determine your potential home loan and the amount of equity support required.
In addition to receiving BuyAssist first home buyer support, you may also be eligible for Victorian Government first home buyer grants and/or stamp duty exemptions.
You can find out more about these home buyer grant eligibility here.
Our finance partners will also assist you to understand how to access any first home owner grants you may be eligible for.
