Help for First Home Buyers in Victoria in 2024 – No Deposit Required.
BuyAssist home buyer help means you can become a first home buyer sooner without years of saving a deposit.
Our innovative, not-for-profit backed affordable housing program helps first home buyers to buy their home by providing equity support. This home buyer help means:
* You don’t need a 20 per cent deposit
* You will avoid paying Lenders Mortgage Insurance
* You only pay interest on your first mortgage. This loan will be for less than 80% of the property price
* You don’t pay any interest on our home buyer help
* You can buy your home sooner.
What First Home Buyers Help Can I Access to Buy My Home?
Eligible households can access a minimum 20 per cent shared equity home buyer help to buy their own home. On average we provide 25% equity support, further reducing your mortgage.
Our home buyer help is provided at settlement and means no deposit is payable by you. Unlike other home buyer assistance programs that require 2 to 5 per cent deposits, we do not require any deposit if you are eligible for our current program. By providing a minimum 20% equity support you also avoid paying Lenders Mortgage Insurance.
The equity support is secured through our Home Ownership Participation Agreement and is repaid when you either sell, refinance or are no longer eligible.
Our customer service team will go through the terms and conditions after you register and have your initial eligibility checked.
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.
BuyAssist First Home Buyers Help Made These Housing Dreams Come True
Hear from some of our happy home buyers who have received help to buy their first home
Hassan and Yumna are typical of many of our successful homebuyers that can achieve their dream with no deposit.
Looking for their own block of land in the growing suburb of Deanside, they struggled to purchase without a twenty percent deposit:
“Our biggest barrier was finance. It was really hard for us. BuyAssist was a big help to us in achieving our goal and having our dream house that we always wanted.” Yumna, BuyAssist first home buyer
Register for 2024 First Home Buyer Help to Buy Your Home Sooner
To find out if you are eligible for first home owner support Register for a no obligation assessment of your eligibility by the BuyAssist team and make 2024 the year you buy your home.