HOMESTART NT
The Northern Territory Government aims to help more Territorians to buy their own home.
With financial support from the Northern Territory Government’s HOMESTART NT initiative, eligible Territorians earning low-to-middle incomes can buy their own home using no more than 30 per cent of their income. There is a range of loan types and help with costs like stamp duty, fees and whitegoods.
HOMESTART NT loans feature:
- higher purchase price limits
- competitive variable interest rate
- low deposit
- no monthly service fees
- up to 35 year loan term to make payments more affordable
- assistance with associated costs to buy your home
- low application fee.
There are three ways HOMESTART NT can help you buy your own home.
1. Only have a small amount for your deposit?
The best loan for you might be the HOMESTART NT Standard Variable Loan which has a low deposit.
2. Can’t afford to borrow the whole amount?
The best loan for you might be the HOMESTART NT Shared Equity Loan which means you buy a share of the property and the Northern Territory Government owns the rest.
3. Need help with fees?
The best loan for you might be the HOMESTART NT Fee Assistance Loan, which means you borrow the money you need to assist with the cost of buying your home such as conveyancing fees, deposit, stamp duty and whitegoods. This is only available if you are taking out a new HOMESTART NT home loan.
So, if you thought buying your own home was out of reach…think again!
HOMESTART NT is administered by TIO on behalf of the Northern Territory Government. To find out more call TIO on 1300 301 833 or visit www.tiofi.com.au.
Other home ownership incentives
The Northern Territory Government also provides a number of other home owner incentives schemes which are administered by the Territory Revenue Office.
These include grants for eligible first home buyers and stamp duty concessions to help eligible Territorians to buy a home. Find out more by visiting the Treasury website.
