When you borrow money for a home loan, lenders charge interest on top of the amount of money you have borrowed (the principal). The interest rate, which is usually quoted as an annual percentage of the loan amount, determines how much money you will need to pay back on your loan.
Contact details for refugee support services in South Australia
Housing Information from the Australian Government's Department of Home Affairs
If you’re an eligible first home buyer, you’ll pay zero stamp duty when you build or buy a new home. The property value thresholds for stamp duty relief have been removed, which means the stamp duty exemption is now available for all eligible first home buyers who buy a new home (houses, flats, units, townhouses, apartments), an off-the-plan apartment, a house and land package, or vacant land to build a new home.
Better Housing for South Australians
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The State Government has introduced a series of measures as part of its commitment to improving housing outcomes for people in South Australia.
This includes:
Eligible first home buyers purchasing a new property no longer have to pay stamp duty.
A Commonwealth Government initiative to support eligible regional first home buyers purchase a home in regional areas with as little as a 5 per cent deposit and without needing lenders mortgage insurance.
A guarantor on a home loan (typically a parent or family member) is someone who provides a guarantee to a lender that they will be responsible for repaying the entire loan if the borrower can’t pay it back. The benefit for a borrower is that it may increase the amount they can borrow or prevent the borrower from needing to pay lenders mortgage insurance, however there are risks for the guarantor.
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HomeSeeker SA properties are available to eligible people for an exclusive period, so you don't have to compete against investors before these homes become available on the open market. We now require all new developments to commit to making properties exclusive to you for at least 60 days - twice as long as older arrangements - giving you more time to make your decision and get your finance sorted.
What is shared equity?
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Shared equity can cover the gap between what you can afford and the cost o
A lender is normally a bank, financial institution, community association or government that makes funds available to a person to purchase a home with the expectation that the funds will be repaid. Repayment normally includes the payment of any interest or fees.