In this episode of That Backyard Property Podcast Miniseries, we delve into the recent changes to the First Home Guarantee Scheme announced by the government. Learn how these changes, effective from October 1st, can help first home buyers enter the property market with just a 5% deposit and avoid mortgage insurance. Discover new price caps for various cities, the removal of income thresholds, and how to stack multiple schemes to maximize benefits. Don't miss the breakdown of required deposit amounts, monthly repayments, and other essential details for various regions.

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Chapters:

00:00 Introduction and Exciting Announcement

00:17 Understanding the First Home Guarantee Scheme

01:03 Avoiding Mortgage Insurance

01:35 Stacking Home Buyer Schemes

02:21 Changes to the Scheme

03:03 New Price Caps by City

03:57 Deposit and Repayment Scenarios

05:09 Impact on Perth's Property Market

08:18 Conclusion and Next Steps

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Produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Podwave Studios⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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