More Tasmanians will be able buy their own home with MyHome shared equity program which makes it easier to save for a deposit and make loan repayments more affordable.
Many people have been stretched paying higher rents and saving five per cent for a home deposit. MyHome will reduce the requirement for a deposit to two per cent of the purchase price.
MyHome is a shared equity product that helps by reducing the ongoing costs of owning a home because the costs are shared with Homes Tasmania.
Assistance also includes:
- up to a maximum of $200 000 or 40 per cent (whichever is the lesser amount) of the purchase price for purchasers of new homes or house and land packages
- up to a maximum of $150 000 or 30 per cent (whichever is the lesser amount) of the purchase price for purchasers of existing homes.
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