HUGE BOOST
Posted by: Multi Dynamic SA, 14 May, 2021
Single-Parent Support

Single-parent support

The Australian Government has announced a new program called the Family Home Guarantee, which provides eligible single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of 2% (percent), subject to the individual’s ability to service a home loan.

Effectively, single parents will be able to buy a property with a 2% deposit!

“The Family Home Guarantee recognizes that the challenge of saving a deposit is even harder when you’re on a single income while raising children.”

We think this is a great policy because we know that housing insecurity leads to worse life outcomes. A child constantly on the move will struggle to do well at school. So helping single mothers and single fathers get a stable roof over their heads is great social policy.

Source Link; https://www.nhfic.gov.au/media-resources/media-releases/update-from-the-australian-government-family-home-guarantee/