{"id":1677,"date":"2023-01-17T21:49:05","date_gmt":"2023-01-17T21:49:05","guid":{"rendered":"https:\/\/blog.villages.com.au\/?p=1677"},"modified":"2023-01-19T05:14:33","modified_gmt":"2023-01-19T05:14:33","slug":"nsw-government-offers-older-first-home-buyers-a-leg-up-with-the-mortgage","status":"publish","type":"post","link":"https:\/\/blog.villages.com.au\/money\/nsw-government-offers-older-first-home-buyers-a-leg-up-with-the-mortgage\/","title":{"rendered":"NSW Government offers older first home buyers a leg up with the mortgage\u00a0"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1677\" class=\"elementor elementor-1677\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f74e1f1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f74e1f1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f1fafb7\" data-id=\"f1fafb7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6516a85 elementor-drop-cap-yes elementor-drop-cap-view-stacked elementor-widget elementor-widget-text-editor\" data-id=\"6516a85\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>B<strong>uying a home can be difficult \u2013 especially if you\u2019ve been off the property ladder for most of your life. Fortunately for aspiring NSW homeowners, the State Government has set up a scheme to help you make that important purchase<\/strong>.<\/p><p>Starting on 23 January, 2023, the <strong>Shared Equity Home Buyer Helper<\/strong> initiative offers to cover a percentage of the purchase price \u2013 40% of a new home and 30% of an existing home \u2013 for homes with a maximum price of $950,000 in Sydney and major regional centres, or $600,000 in other regional areas of the state.<\/p><p>In exchange for the assistance, the State Government will own a portion of the home\u2019s equity; no repayments will be required to the Government, though buyers can later buy out the Government\u2019s share in the property at a minimum of 5% at a time.<\/p><p><strong>The initiative is available to single parents of a dependent child or children, single people aged 50 and up, and first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators or police officers.<\/strong><\/p><p>To qualify, you must:<\/p><ul><li>be 18 years or over;<\/li><li>be an Australian or New Zealand citizen, or a permanent Australian resident;<\/li><li>have a minimum deposit of 2% of the purchase price;<\/li><li>occupy the property as their principal place of residence;<\/li><li>not currently own any land or property;<\/li><li>not be able to service the mortgage for the property purchase without the government contribution;<\/li><li>but be able to service the mortgage with a participating lender with the government contribution.<\/li><\/ul><p>For more details, visit <strong><a href=\"https:\/\/www.nsw.gov.au\/housing-and-construction\/shared-equity\">https:\/\/www.nsw.gov.au\/housing-and-construction\/shared-equity<\/a><\/strong>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Buying a home can be difficult \u2013 especially if you\u2019ve been off the property ladder for most of your life. Fortunately for aspiring NSW homeowners, the State Government has set up a scheme to help you make that important purchase. Starting on 23 January, 2023,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_mi_skip_tracking":false,"footnotes":""},"categories":[71],"tags":[131,132],"class_list":["post-1677","post","type-post","status-publish","format-standard","hentry","category-money","tag-financial-tips","tag-mortgages"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/comments?post=1677"}],"version-history":[{"count":7,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1677\/revisions"}],"predecessor-version":[{"id":1692,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1677\/revisions\/1692"}],"wp:attachment":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media?parent=1677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/categories?post=1677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/tags?post=1677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}