Gippsland › Latest news › Darren Chester MP
Extension of First Home Loan Deposit Scheme supports Gippslanders achieve their dream of owning a home
Support for those who plan to buy and own a home.
An extension to the First Home Loan Deposit Scheme, the temporary New Home Guarantee program and the Family Home Guarantee will continue to support more Gippslanders achieve their dream of owning a home, says Federal Member for Gippsland Darren Chester.
Federal Member for Gippsland Darren Chester said more Gippslanders would be able to achieve their dream of owning a home with the extension of the First Home Loan Deposit Scheme, the temporary New Home Guarantee program and the Family Home Guarantee
Additional places for eligible applicants
The Federal Government has announced an additional 30,000 places for eligible applicants under the Federal Government's First Home Loan Deposit Scheme, the temporary New Home Guarantee program, and the Family Home Guarantee.
Mr Chester said the additional places were made available from July 1, 2021. "The First Home Loan Deposit Scheme and New Home Guarantee programs are specifically designed to support first home buyers including here in Gippsland,"
Family home guarantee
Mr Chester said, "While the Family Home Guarantee will support single parents with children, regardless of whether they are a first home buyer or previous owner occupier. This is great news for Gippslanders aspiring to enter the housing market and single parents looking to enter or re-enter the market to achieve the dream of owning a home."
Changes to support Gippslanders
Mr Chester said, "The changes will support more Gippslanders to take advantage of the scheme as we continue to recover from the impacts of COVID-19." The changes include:
- 10,000 guarantees under the First Home Loan Deposit Scheme to eligible first home buyers to purchase a home with a deposit of 5 per cent
- 10,000 New Home Guarantees to eligible first home buyers to build a new home or purchase a newly built home with a deposit of 5 per cent
- 10,000 Family Home Guarantees to eligible single parents with children to build a new home or purchase an existing home with a deposit of as little as 2 per cent
- The three programs are administered by the National Housing Finance and Investment Corporation (NHFIC) in partnership with a panel of participating financial institutions
- Applications should be made directly with a participating lender or an authorised representative, such as a mortgage broker
All participating lenders have committed not to charge eligible customers higher interest rates than equivalent customers outside of the programs. Information on how to apply, eligibility requirements and the full list of participating lenders is available on the NHFIC support to buy a home.
Pictures from Darren Chester MP website.
Source: http://gippsland.com/
Published by: news@gippsland.com
![](http://global.gippsland.com/myrp/images/new.gif)
Darren Chester promotes Mobile Service Centres that offer essential government services like Centrelink and Medicare across Gippsland
![](http://global.gippsland.com/myrp/images/new.gif)
Gippsland Water adds customer care pop-ups for in-person payment support in Sale, Drouin, Warragul for July and Moe in August 2024
![](http://global.gippsland.com/myrp/images/new.gif)
Latrobe River Bridge at Tyers had completion delayed to August 2024 frustrating residents with safety concerns
![](http://global.gippsland.com/myrp/images/new.gif)
Baw Baw Shire attends 2024 Australian Local Government Association National General Assembly in Canberra advocating peri urban areas
![](http://global.gippsland.com/myrp/images/new.gif)
Enjoy free chicken parma while listening to inspiring story of Warren Davies South Gippsland Farmer on 22 July 2024 at Mirboo North Hotel
![](http://global.gippsland.com/myrp/images/new.gif)
Join Latrobe City Council and Planet Ark for National Tree Day 2024 at W H Burrage Reserve in Newborough on 28 July 2024
![](http://global.gippsland.com/myrp/images/new.gif)
Latrobe City Council requests Planning Panel for Amendment C144 for Traralgon West Precinct on 9 September 2024
![](http://global.gippsland.com/myrp/images/new.gif)
Latrobe Valley clubs excelled at 2024 Community Clubs Victoria awards with Morwell and Moe clubs earning top honours
![](http://global.gippsland.com/myrp/images/new.gif)
Warragul Leisure Centre $11M expansion of community sports facilities opens 28 July 2024
![](http://global.gippsland.com/myrp/images/new.gif)