QUOTE(ladyhat @ Nov 15 2013, 12:16 AM)
1st house in Oz right? Do the houses we bought in Msia counted?
No. A few schemes you can actually benefited from here:-
1) FHOG (First home owner grant) applies to WA now which entitled for $10,000 for new home or $3000 for established home (2nd hand).
2) Some cash handout of $2000 for assisting of some documentation fees will be paid by gov to help 1st home owner.
3) No stamp duty required for house value below 500k, only pay 370 for administration fees
Above are meant for 1st house in WA. If you have properties in Malaysia, it's not affected. There's a limit of getting the FHOG where the property mustnot exceed value of 500k if i'm not mistaken.
There's few options to get loan from local if you can't get higher loan from local bank. Can look into keystart loan:-
1) Keystart loan
- proof u hv 5k savings in bank account and get 20-30% downpayment to pay off the housing price and loan at 70-80%
- not sure about the interest. Heard that is reasonable
- property value not exceeding 450k
- owner must not rent out the house, must stay in, but no limit to rent out the room....loop holes?
2) Shared home loan
- no savings proof in bank account required
- not sure about interest
- property value 450k below
- 20-30% downpayment given. (like limpeh giving money to buy house
- owner must stay in the house, no limit to rent the room out
- 1 condition, the name of the house got 2 names. 1 is u & the other is the department of housing (DOH)
- when u sell the house in future, 30% profit will go to DOH while the rest is yours. Sounds good?