Some of the team from Farmers’ Finance Australia.
Looking to buy your first home? Talk to the brokers at Farmers’ Finance Australia (FFA) to learn about ways to get into the property market while saving money.
In this, the second in a series of monthly newsletters to farmers, FFA offers insights into ways to save money by avoiding Lender’s Mortgage Insurance on deposits as low as five per cent, which can add a hefty increase on the purchase price of a home.
First-home buyers can gain significant benefits from speaking with a FFA broker.
FFA director Luca Catalano said the brokerage wanted to share its valuable knowledge for free.
Farmers’ Finance Australia loves doing business with farmers and people from regional towns.
“We want to give people a taste of what knowledge they can get from a broker,” Mr Catalano said.
FFA chief executive Christian Stevens agreed.
“Our team are not just knowledgeable about the finance and property market; they provide personalised advice tailored to individual needs and objectives,” Mr Stevens said.
“They guide first-home buyers through the entire process, from understanding their borrowing capacity to securing the best possible loan terms.
“Additionally, our brokers can help first-home buyers access various government grants and schemes, ensuring they make the most of every opportunity available to them. Buyers should come to FFA because we offer a comprehensive suite of services under one roof. We have the best asset, residential, commercial, agribusiness, and private wealth brokers in Australia all working together to provide holistic financial solutions.
“This means our clients benefit from a wide range of expertise and can receive tailored solutions that cover all aspects of their financial needs.
“Our integrated approach ensures that whether you’re looking to buy a home, invest in commercial property, or expand your agribusiness operations, you will receive the highest level of service and expertise.
The FFA team gather on farm.
“Beyond saving on LMI, clients of FFA can secure the best rates in the market, which is a significant savings over the life of the loan.
“Additionally, there may also be stamp duty exemptions, depending on the purchase price and other criteria.
“These savings can amount to tens of thousands of dollars, making a substantial difference to first-home buyers and other clients looking to maximise their financial efficiency.
“We have an expert team of brokers who specialise in first home buyer clients.”
FFA, in partnership with Australian Community Media, has a team of the leading 40 brokers and 60 support staff across the country who can help farmers navigate the often complex world of finance.
“At FFA, we believe in building long-term relationships and are here to support you every step of the way, from your first home purchase to expanding your investment portfolio,” Mr Stevens said.
- Email info@farmersfinance.com.au for more information and to see if you are eligible.
The RFHBG assists eligible regional home buyers to buy a home under the price caps shown. Greater capital city areas and the entire ACT are excluded.
Did you know: First home buyers can purchase with a 5 per cent deposit without paying Lender’s Mortgage Insurance?
About the scheme:
Good news for first home buyers and single parents wanting to buy a property: the federal government has issued a further 50,000 places in the Home Guarantee Scheme for the 2024-25 financial year.
The First Home Buyer Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian government initiative to support eligible home buyers to buy a home sooner.
It is administered by Housing Australia on behalf of the Australian government.
Housing Australia has authorised a panel of 30-plus participating lenders to offer the Home Guarantee Scheme (HGS) to home buyers.
That Home Guarantee Scheme includes:
- 35,000 places for the First Home Guarantee, which allows eligible first home buyers to purchase a property with a 5pc deposit without paying lender’s mortgage insurance (LMI)
- 10,000 places for the Regional First Home Buyer Guarantee, which is the same as the scheme above but applies to eligible regional buyers purchasing regional properties
- 5000 places for the Family Home Guarantee, which allows eligible single parents and single legal guardians to buy a property with a 2pc deposit without paying LMI.
Eligibility criteria: To apply for the FHBG, home buyers must be:
- Applying as an individual or two joint applicants
- An Australian citizen(s) or permanent resident(s) at the time they enter the loan
- At least 18 years of age
- Earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
- Intending to be owner-occupiers of the purchased property
- First home buyers or previous homeowners who haven’t owned or had an interest in a real property in Australia (this includes owning land only) in the past 10 years.
Property types and price caps: Under the HGS, home buyers can buy a residential property, including:
- An existing house, townhouse, or apartment
- A house-and-land package
- Land and a separate contract to build a home
- An off-the-plan apartment or townhouse.
