Your First Home Starts Here
Buying your first home is an exciting milestone, but understanding deposits, government assistance and lending requirements can feel overwhelming.
At Formal Finance, we simplify the process by helping you explore your options, maximise eligible government assistance and secure a lending solution suited to your circumstances.
Australian Government 5% Deposit Scheme
Eligible first-home buyers may be able to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Eligible single parents and legal guardians may qualify with just 2%.
With no income caps and expanded property price limits, the scheme can help more Australians enter the property market sooner.
Australian Government Help to Buy Scheme
The Australian Government's Help to Buy Scheme allows eligible buyers to purchase with a minimum 2% deposit, with the Government contributing up to 30% towards an established home or 40% towards a new home.
In return, the Government retains a share in the property's equity, which can be purchased back over time or repaid when the property is sold.
Keystart Home Loans
Keystart offers low-deposit home loan options designed to help eligible Western Australians enter the property market.
With no Lenders Mortgage Insurance and lending criteria that differ from traditional banks, Keystart may provide an alternative pathway to homeownership.
First Home Owner Grant
Eligible first-home buyers in Western Australia may receive a $10,000 First Home Owner Grant when purchasing or constructing a qualifying new home.
Stamp duty concessions may also be available, helping reduce the upfront costs of purchasing your first home.
Let's Get You Home
Whether you're ready to buy or just starting to explore your options, we're here to help you understand what's possible.