Loan Assistance

At Oaklands Green, we understand the dilemma of dreaming of owning your own home, but not quite having the financial means to make it happen.

Well, the good news is that there are lots of ways to help you achieve that dream. Our Oaklands Green Project Manager, Richard Joy, can work with you to find a solution that meets your needs and makes owning your own home a reality.

Some of the possible ways to help you finance your new home include:

HomeStart Finance

Established in 1989, HomeStart is a State Government organisation that is 100% focused on providing home loans for South Australians.

While HomeStart is a profitable financial organisation, it is not a bank. HomeStart has the social responsibility of providing fair and reasonable home buying solutions and has a wide range of ways to do this. These include their ever-popular minimal deposit loans, designed to help South Australians get a foot in the door of their new home.

Shared Equity

‘Shared Equity’ can cover the gap between what you can afford and the cost of a property, so you can boost your borrowing power and buy your own home sooner.

For example, with shared equity, you may only need to make repayments on 75% of the loan, with the remainder being held by a lender. A lender could be a bank, financial institution, or the Government’s housing finance organisation, HomeStart Finance (see above).

In the HomeStart shared equity option, they help you get into the housing market by contributing up to 25% of the purchase price of your home. Your repayments are then based on borrowings for the remaining 75%. In this scenario, HomeStart acts as your silent partner and will share in the profit or loss when you sell your house.

If you’d like to know more about buying off the plan at Oaklands Green, please speak with our Project Team Leader Richard Joy on 0439 504 440.

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