First Home Owners Grant Scheme And Home Loan Professional Package
FHOGS: Are you in the market to purchase your first home, then you are entitled to get a First Home buyers grant which is offered by the NSW government. It is an attractive option for all the first home buyers where this grant has been advanced newly by the federal government.
The NSW government has totally financed this First Home Owner Grant Scheme (FHOGS) and managed by the office of State Revenue (OSR). The first home buyers who are ready to buy the first home are approved for a loan of $7000 as these people are helped by the scheme.
The first home owners who are entitled to get the grant despite of their income, the area where they are planning to build or buy the first home. There is no need to pay tax and this grant is not means tested.
The Australian Government announced a First Home Owner Boost in October 2008, which supplements the NSW Government, funded First Home Owner Grant Scheme. According to the announcement from the Commonwealth:
A boost of $7,000 is given to the first home buyers who are buying the established homes. A grant of $14,000 grant is doubled to first home buyers grant.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000. This will take their first home buyers grant to $21,000.
Home Loan Professional Packages: Like credit rating e.g. AAA, AA or A rating, a AAA credit rating means you have a superior credit profile. In an effort to attract people on higher incomes or those regarded as low-risk borrowers, lenders offer special loan deals known as professional packages to 'reward' these customers.
Once restricted to professionals such as lawyers and accountants, these packages are now available to a wide variety of purchasers with sufficient income or aggregate loan size.
A Professional Package normally offers discounts of 0.2 to 0.7 per cent off lenders standard variable interest rate and nearly to 0.25 per cent off fixed interest rates based on the size of the loan
These package offers will not help in saving rates discounts but also offers a variety of other discounts on accounts such as credit cards, transaction, margin loans and insurance.
The following are advantages and disadvantages of the professional package along with a home loan.
Pros of a Professional Package Home Loan are Fully featured account e.g. redraw, split loans, internet and phone banking, Interest rate discounts on the standard variable rate, You may be eligible for other benefits such as fee free transaction accounts and discounts on insurance products and Some Home Loan lenders also offer no establishment fees and no ongoing monthly fees on your loans.
Professional Package Home Loan Cons are An annual fee applies to this product
The NSW government has totally financed this First Home Owner Grant Scheme (FHOGS) and managed by the office of State Revenue (OSR). The first home buyers who are ready to buy the first home are approved for a loan of $7000 as these people are helped by the scheme.
The first home owners who are entitled to get the grant despite of their income, the area where they are planning to build or buy the first home. There is no need to pay tax and this grant is not means tested.
The Australian Government announced a First Home Owner Boost in October 2008, which supplements the NSW Government, funded First Home Owner Grant Scheme. According to the announcement from the Commonwealth:
A boost of $7,000 is given to the first home buyers who are buying the established homes. A grant of $14,000 grant is doubled to first home buyers grant.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000. This will take their first home buyers grant to $21,000.
Home Loan Professional Packages: Like credit rating e.g. AAA, AA or A rating, a AAA credit rating means you have a superior credit profile. In an effort to attract people on higher incomes or those regarded as low-risk borrowers, lenders offer special loan deals known as professional packages to 'reward' these customers.
Once restricted to professionals such as lawyers and accountants, these packages are now available to a wide variety of purchasers with sufficient income or aggregate loan size.
A Professional Package normally offers discounts of 0.2 to 0.7 per cent off lenders standard variable interest rate and nearly to 0.25 per cent off fixed interest rates based on the size of the loan
These package offers will not help in saving rates discounts but also offers a variety of other discounts on accounts such as credit cards, transaction, margin loans and insurance.
The following are advantages and disadvantages of the professional package along with a home loan.
Pros of a Professional Package Home Loan are Fully featured account e.g. redraw, split loans, internet and phone banking, Interest rate discounts on the standard variable rate, You may be eligible for other benefits such as fee free transaction accounts and discounts on insurance products and Some Home Loan lenders also offer no establishment fees and no ongoing monthly fees on your loans.
Professional Package Home Loan Cons are An annual fee applies to this product
About the Author:
Guy Baldwin is a director of the website http://www.directmoneyhomeloans.com.au. If you'd like to get assistance contact Directmoney at 1300 882 432 and get the best low rate home loans for you, and their services are free of charge.
posted by Credit Counseling at
7:35 AM
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