Comments for Violeta Finance

Comment on The First Home Loan Deposit Scheme explained – What is the 5% First Home Loan Deposit Scheme? by Jo

Jo — Mon, 23 Dec 2019 05:20:43 +0000

In reply to Courtney.

Hi Courtney

Thanks so much for your question. This is actually a pretty common query. In the scenario you’ve described you would still need to lend $470k, however you wouldn’t need to pay Lenders Mortgage Insurance because the government will guarantee the balance of the 20% deposit.

I hope this helps to clarify how the First Home Loan Deposit Scheme works. If you have any questions you’re very welcome to give us a call, we’re happy to help.

Jo 🙂

Comment on The First Home Loan Deposit Scheme explained – What is the 5% First Home Loan Deposit Scheme? by Courtney

Courtney — Tue, 19 Nov 2019 11:03:35 +0000

Hi there,

Thanks for this article. As this is SOOOO new to me, can you please dumb it down even more for the First Home Loan Deposit Scheme.

Let’s say I want a $500K house and I have $30k deposit, Ideally I thought the government was going to lend $70k to reach the 20% deposit. But they aren’t? So I’m still getting a $470k loan and paying the higher repayments?

Sorry, this may be so simple, but I just don’t understand with so little information the government is giving out.

Cheers
Courtney

Comment on Should I fix my interest rate? by Jo

Jo — Tue, 08 Jan 2019 03:38:34 +0000

Thanks so much.