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The daunting task of buying your first home can get even more complicated, when you start looking for a suitable loan. Karayi Home Loans can give you expert advice on your home loan. Comparing and finding the most suitable loan that meets your objectives and goals can save thousands of dollars during the life of the loan.

The ever increasing property prices and the scramble for the deposit money, may give an eluding feeling but Government’s First Home Owner’s Grant and stamp duty reductions are a blessing.

It can also be a lengthy and complicated process. We can help you in that process and make it easy for you so that you can focus your energy on more demanding issues.

We will help you with finding out

How much deposit you will need.

The costs involved in financing your home loan

How much you can borrow.

What is your monthly repayment?

We will research and analyse your situation to find the most suitable loan for you.

First Home Owners Grant in Victoria

The First Home Owner’s Grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010. For contracts entered into on or after 1 January 2010, the Grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.

For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes. For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers.  For contracts entered into prior to 1 July 2013, a payment of up to $7000 is available for eligible first home buyers.

There is a stamp duty concession of 40% for first Home buyers in Victoria

 

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