Anyonr know about this?

Are you planning tobuy your own home one day? Then you should know about Shared Equity HomeBuyer Helper – the NSW Government initiative that makes it easier andmuch more affordable for eligible people to buy a home.

How does Shared Equity make it easier?

With Shared Equity,the NSW Government lightens the load of a mortgage by contributing up to 40% ofthe purchase price of a new home and 30% towards an existing house. Inexchange, the Government holds an equity share in the property – but the homeis yours.

Are there other advantages?

Yes. As well asallowing participants to pay a deposit of just 2%, Shared Equity means lowerrepayments on a smaller loan amount, and no need for expensive lenderinsurance. You won’t pay interest or rent on the Government’s equity share,either.

Who's eligible to apply?

• singles aged 50 and over
• single parents of a dependent child
• first home buyer key workers employed as:
  • police officers
  • paramedics, registered nurses and midwives
  • teachers and early childhood educators.

Single applicants mustearn less than $93,200 and joint applicants have a combined income of less than$124,200.

What other criteria are there?

You’d need to have a deposit of at least 2% ofthe purchase price, plus the funds to cover related costs of buying a propertysuch as solicitor/conveyancer fees, building inspections, etc.

You need to be able to service a loan with the help of the NSW Government’scontribution. However, if you’re able to secure a loan without needing the NSWGovernment’s contribution, you won’t be eligible.


@comms.service.nsw.gov.au>@comms.service.nsw.gov.au>