So you've decided that now is the right time to look at buying a house....yay, go you!
If you're like me, you have so many questions (so many) and need answers STAT about the potential home buyer grants and ADF schemes and entitlements you and your military member may be able to apply for.
But…. those answers need to be explained in plain old non-military speak, which is why Defence Bank's Kym Bowles and I talk you through ALL.THE.THINGS when it comes to buying a house.
In this episode, Kym and I talk about;
-First steps once you decide to save for a house
-Personal debts and how they can impact your borrowing power
-Which Home Buyer Grants and ADF schemes and entitlements you may be able to apply for
- The First Home Owner Grant scheme explained
-The First Home Loan Deposit scheme (now called the Guarantee scheme) explained
-The First Home Super Saver scheme explained
-What is stamp duty and the available duty concessions
-The Defence Home Ownership Assistance Scheme (aka DHOAS) explained
-Recent changes to the DHOAS eligibility criteria
-When to apply and how the DHOAS payments actually work
-The Home Purchase Assistance Scheme (aka HPAS) explained
-When an ADF member can apply for HPAS and some things to be aware of
-Home Purchase or Sale Expenses Allowance (aka HPSEA) explained
-How to factor in Interest rates and understand what you can borrow
-Do you need to get preapproval before searching for a potential property
For links to even more information and to check your eligibility for any of the grants, schemes and entitlements discussed in this podcast episode, click through to this BLOG article.
Buying a House-ADF Schemes & Home Buyer Grants Explained - Military Life
The BLOG article also details any available exemptions for each grant and scheme, for ADF members, by state and territory.
To get in contact with Defence Bank to talk about all of the above in more detail, call 1800 033 139 or visit the website for more information or to make use of the Defence Bank Home Loan Borrowing Power Calculator, Stamp Duty Calculator, Home Loan Repayments Calculator and so much more.
https://www.defencebank.com.au/calculators
*Any advice contained in this podcast is general advice only and doesn’t take into account your personal circumstances. All applications for credit at Defence Bank are subject to approval under credit criteria.
