Are you dreaming of owning your own home? The NSW Government Shared Equity Home Buyer Helper is a great new initiative that could get you a step closer to homeownership at Mason & Main.
How Shared Equity Simplifies Homeownership
Shared Equity is your ticket to a more manageable mortgage. The NSW Government steps in, offering up to 40% of the purchase price for a new home. In return, the government holds an equity share in the property while you get to call it home.
Countless Perks Await
Shared Equity isn’t just about shared responsibilities, it’s about shared benefits too. Participants can secure a home with a mere 2% deposit, resulting in smaller loan amounts and zero lender insurance costs. Furthermore, there’s no interest or rent on the government’s equity share.
Eligibility is for singles aged 50 and above, single parents with a dependent child, or key workers who are first home buyers and employed in specific roles like police officers, paramedics, registered nurses, midwives, teachers, or early childhood educators. Single applicants must earn less than $93,200, and joint applicants should have a combined income of less than $124,200.
The price threshold is $950,000 for houses, home packages and apartments in Sydney. Once the property has been purchased, this is required to be your primary place of residence. Participants may also be subject to periodic eligibility reviews every 2-5 years. Additionally, you may buy back some or all of the Government’s equity interest at any time.
With the NSW Government Shared Equity Home Buyer Helper program, your dream of owning a luxury 1 or 2-bedroom apartment at Mason & Main becomes more attainable than ever. With a range of apartments starting from $571,000 to $765,000, this is your opportunity to experience modern living at its finest, here at Mason & Main.
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