Great news for first home buyers

10 March 2020

If you, a friend or family member has been thinking about buying their first home, we've got great news. From early 2020, the Australian Government will be 'guaranteeing' a limited number of loans which will give home buyers the ability to borrow up to 95% of the property value without having to pay lenders mortgage insurance.* These loans are only available through a limited number of lenders.

Easy Street is owned and operated by Community First Credit Union, and as Community First is on the approved panel of lenders, we wanted to let Easy Street members know that you can access the Scheme via our Community First brand. Eligible borrowers can use the guarantee in conjunction with other government programs like the First Home Super Saver Scheme or state and territory first home owner grants and stamp duty concessions.

Who can apply?

Firstly, you'll need to be a first home buyer with at least 5% deposit, and an Australian Citizen. All applicants will be subject to eligibility criteria which includes things like income thresholds and maximum property prices. Like with any loan application, credit eligibility criteria, terms and conditions fees and charges still apply. For more information on eligibility criteria, click here.

Apply today - limited spots available

These loans are only available through a limited number of lenders and Community First is one of them. Easy Street home loans are not available as part of the Scheme however, eligible borrowers can access the Scheme via Community First's home loan range. If you or someone you know are interested in applying, simply register your interest and one of Community First's experienced team will give you a call to have a chat and start the process now.

Need more info?

For information on the scheme, including eligibility criteria, fact sheets and more, visit the information page on our website here.

 

*Eligibility criteria, terms & conditions, fees & charges apply.

The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.