There's good news for first home buyers as one of the initiatives of the freshly elected Federal Government is the establishment of the First Home Loan Deposit Scheme (FHLDS). So, what's this all about?
In this simple example, when compared to a 20% home deposit, a 5% home deposit could end up costing an extra $89,301 in interest over the life of a 30-year home loan. Also, there is the consideration with regard to the difference between the loan repayment amounts.
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