$50,000 Interest Free Loans

Last Saturday the 29th of November the Tasmanian Government announced a new initiative called HomeShare, designed to help low to moderate income Tasmanians to buy their own homes.

The way this scheme works is that you and the Director of Housing buy the home together.

The amount of the Directors share in your property will all depend on the purchase price of your new home and your total loan.

However the Directors share will be capped at 25% of the price up to a maximum of $50,000

No rent or interest is charged on the Directors share of your property, however, you must pay the total amount on rates, insurance and maintenance of the home.

To Qualify for HomeShare you must meet the following criteria:

·         Satisfy the income and asset limits for HomeShare

·         Be an Australian citizen or permanent resident living in Tasmania

·         Be a neutral person at least 18 years old

·         Be able to provide a minimum deposit ( the First Home Owners Grant can be used towards this)

·         Not own or have an interest in any other real property (land)

·         Be free of debt to housing Tasmania

·         Not have received previous assistance under Streets Ahead Assistance Program or HOAP home loans

·         Be able to pay legal and establishment fees

·         Live in the house as your principal place of residence

You are also only able to purchase a newly constructed homes that has never been previously occupied as a residence, including occupation by the builder, tenant or other occupant and the purchase must be the first sale of the house.

To apply for HomeShare you must contact Tassie Home Loans on 1800 672 198 as they are the only finance company issuing the HomeShare initiative.

4one4 Realestate have several newly constructed home now available for sale and with the State and Australian government offering money to purchase newly constructed homes there has never been a better time to buy.

Contact us today and we will show you how easy it is to purchase your own home.

Disclaimer: 4one4 Realestate take no responsibility for the supplied information and request they you perform you own research via Tassie Home Loans to fully understand if you qualify for the Tasmanian Governments HomeShare Scheme.

(The above information has been sourced via the Housing Tasmania’s HomeShare Handout)