Did you know that in the Northern Territoy we have a ‘Home North Scheme”? You can borrow up to $240,000 with a $4,000 deposit. You have to be a first home buyer, your grant has to go straight onto loan, you have to earn under a certain amount (i think $1,100). It is a great way to get into the market and also a great place to own a PI as there are a huge number of first home buyers. It’s not completely this straight forward as they do own a share in your property as this allows you to have smaller repayments but when you re-finance or sell they take their share in in the profits. For more info call Territory Insurance Office (TIO). Thought you may be interested!
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