AffordAssist is an affordability program exclusively for first-home buyers; providing the much-needed deposit solution: First-home buyers can buy a property with no-deposit.
How does it work?
AffordAssist provides an alternative to the required upfront cash deposit. Offering a proprietary Deferred Deposit Agreement (DDA). No application fees, mandate or interest charges.
- Deposit amount may vary between 3%-25%) of the property purchase price,
- DDA is an agreement between the seller and buyer; and
- Provides the seller and buyer with protections.
What do you typically need to be eligible?
- Must be a first-home buyer,
- The full Government grant where applicable is applied to reduce the 1st mortgage loan, refer http://www.firsthome.gov.au/
- Demonstrate cash saving; rental history is considered; and
- Meet the serviceability requirements. [Provided free, click here to start]
What about the property?
Program includes all residential property types, new builds and existing, including land, townhouses, apartments, off-the-plan and home and land packages.
- A property can be selected from one of our pre-approved listings. AffordAssist works with developers and property sellers to make lots available to first-home buyers, or
- You can source your own property and AffordAssist can assist with introducing the program to the seller.
The AffordAssist program is designed to be fair for both the seller and buyer and includes a number of consumer protections:
- Fair pricing model
- Independent Property Review (IPR)
- Serviceability assurance
It’s all about helping first-home buyers
AffordAssist is an affordable housing program specifically designed to meet first-home buyers’ needs. It’s a corporate solution, offered alongside government initiatives, with the single purpose of increasing first-home ownership in Australia.