HomeBuilder

First home buyers prepare to cash in as the government offers generous $25,000 grants and add an extra 10,000 places to its first home loan deposit scheme

PHOTO: While HomeBuilder applications are due by the end of the year, the government may extend the scheme in Tuesday’s budget

First home buyers looking to secure a home before the end of the year can get a $25,000 cash boost and score a loan with a five per cent deposit.

The support program will be announced by treasurer Josh Frydenberg on Saturday and will apply to newly constructed houses.

Under the plan, an extra 10,000 applicants will gain access to the first home loan scheme where government guarantees 15 per cent of the deposit.

Successful applicants will also be able to apply for the HomeBuilder program which gives prospective buyers $25,000 for new properties.

While HomeBuilder applications are due by the end of the year, the government may extend the scheme in Tuesday’s budget.

READ MORE VIA THE DALY MAIL

MOST POPULAR