Maybe you’ve been thinking of buying a
home for a while, or maybe would like to finally escape the rental treadmill.
Either way, you’re excited about the prospect of building equity and finally having a place you can call your own.
But something has been stopping you from moving forward with your dream of home ownership, hasn’t it?
Like many people, you’re probably worried about one of these:
You’ve heard that many lenders require large deposits, and you don’t know how you’re going to save enough any time soon.
You’re concerned that your income won’t be enough to get you approved for the home you want.
You’re worried that your mortgage payments will be higher than you can afford, and that you’ll struggle to make your payments on time.
If you can identify with at least one of the above, you’re not alone. Today, more and more people are finding it difficult to purchase their own homes – and some never even try because they think there are no good options.
In fact, there are 700,000+ more Australians renting than
there were just 20 years ago*
*ABS – Census of Population & Housing
Why? Increasing property prices (without similar increases in income) has meant it is taking longer and longer to save a deposit… home ownership keeps getting further and further away.
But at BuyAssist, we can help change that – one new homeowner at a time.
If you feel like owning a home is beyond your reach, we have a question for you:
Would Getting 25%
of a New Home’s Purchase Price for a Deposit
If you’re a lower- to middle-income earner, and the lack of a sufficient deposit is what is keeping you from transitioning from renter to homeowner… getting 25% financial support could change everything for you.
Simply put, a sizeable deposit of 25% makes a world of difference when buying a home. It reduces the amount you need to borrow, which means your monthly payments will be lower.
But if you’re like most Australians, you’ve probably found it difficult to save a healthy deposit. Depending on the type, size, and price of the home you want to buy, it could potentially take years to save enough – and that can be a difficult wait when you’re stuck paying rent every single month.
You’ve probably been told that saving like this is the only way to afford a home. But consider this:
What if you didn’t have to save for years to
afford a deposit?
What if you could get the deposit
taken care of on your behalf, so that you could qualify for a loan on the
What if you could finally buy a home you could
call your own, so that you’d never have to waste money on rent again?
Would you take advantage of an opportunity like that?
We hope so, because we’d like to invite you to register your interest for this opportunity. Just click the button below:
More Australians Buy a
We are a 100% subsidiary of the National Affordable Housing Consortium
(NAHC), a non-profit, socially responsible organisation that is committed to providing affordable housing solutions for Australians. The NAHC has helped more facilitate more than 3,600 rental properties under the National Rental Affordability Scheme, and promotes home ownership as a means of creating financial and social strength.
At BuyAssist, we believe more Australians deserve the opportunity to experience the benefits of home ownership. We believe that homeowners build strong, lasting communities. And we know that owning a home creates financial stability that you can enjoy for the rest of your life
We feel that it is our social responsibility to put home ownership within reach or more individuals, couples, and families. Every time the BuyAssist program helps another new homeowner escape the financial drain of renting, we know we’ve done the right thing.
How Does the BuyAssist Program Work?
After you register your interest we will send you a link to answer a few simple questions to help us determine if you may be eligible for the BuyAssist program. It takes less than two minutes to complete these questions.
If you are eligible, we provide an agreed amount of funds to be used as a deposit on a property on our BuyAssist-approved list. In most cases, that amount is 25% of the purchase price of the home.
Once you’ve chosen a home on our list and signed a Home Ownership Participation Agreement (HOPA), you’ll be able to access the funds for your deposit.
We’ll then match you with a lender who can work with you to provide a standard loan at competitive rates, depending on your income, your credit, and other factors. If you have savings, you can reduce the amount you need to borrow and cover the normal costs of purchasing a home. You may also be entitled to government grants and stamp duty concessions – we will help you work through this.
You won’t need to repay the amount we provide while you’re enjoying your new home and you remain eligible for support. Instead, you’ll only owe the agreed upon amount when the HOPA ends – usually, when you sell or move out of the home.
Reduce your upfront financial burden.
(Don’t miss out – Click to Register Your Interest)Register Your Interest
Are You Ready to Stop Renting and Start Enjoying
If you’re tired of renting, and you’d like to see if you’re eligible for the BuyAssist financial support program, you owe it to yourself to click the button below and register your interest now. We will not be able to help everyone, but we’ll work with those of you who are eligible through the next steps to help make your dream of home ownership come true.
Have Questions About BuyAssist?
Will BuyAssist Own a Portion of My Home?
No. When you work with BuyAssist to provide funds for your deposit, you’ll never have to worry about giving up any ownership rights. You 100% own your
Instead of owning equity in your home, we receive an agreed upon percentage of the home’s value when the HOPA (our agreement with you) ends. That way, you get the assistance you need, but still enjoy full ownership.
What is the Amount that Must Be Repaid to BuyAssist When the HOPA Ends?
The percentage we receive is the same as the percentage of the home’s price we provide as assistance. In other words, if we provided 25% of the purchase price and you financed the remaining 75% through a BuyAssist-approved lender, the repayment would be 25% of the home’s agreed upon value when the HOPA ends.
the percentage remains the same regardless of whether the home increases or
decreases in value.
When Do I Repay BuyAssist?
You do not have to repay the financial assistance for as long as the HOPA remains in effect. Here are the most common occurrences that terminate the HOPA and cause the repayment to become due:
- You sell the property for which we provided financial assistance
- You decide to move out of the property (regardless of whether you sell the home)
- You repay your first mortgage in full
- You no longer meet the eligibility requirements for financial assistance
- You decide to refinance your first mortgage with a lender that is not in BuyAssist’s approved network
Can I Use BuyAssist to Provide Financial Support for Any Type of Property?
We maintain a list of BuyAssist-approved properties that we have determined are appropriate for the assistance we provide. If you are looking for a specific type of property, such as a townhome or a freestanding home, we may have these types in our list. Of course, your income affects the amount we agree to provide as assistance. If your preferred property type isn’t available at your assistance level, don’t worry – we’re adding new properties to our list every week, so you might find exactly what you’re looking for at a later date.
Can I Obtain Financing with Very Poor Credit?
The decision to approve or decline your mortgage loan application will rest solely with your selected lender. If you have severe credit issues, such as court writs, defaults, or bankruptcy pending, you may not be currently able to obtain financing.
Keep in mind that older credit issue may be less important to our lender panel than a current or recent issue. Typically, issues more than 12 months old are easier for lenders to work with.
Also, full up-front disclosure of all credit issues can increase your chances of a favorable lending decision.
Can I Use Any Lender I Choose?
We work with a lender panel that has shown the same commitment to social responsibility that we strive for every day. Because we’ve established our lender panel to help Australians just like you buy a home without the typical burden of saving for a large deposit on your own, we do require you to borrow through one of these lenders in order to receive financial support from BuyAssist.
If I contribute money from savings to my deposit, will it reduce my financial support amount?
No. Any money you contribute from savings will reduce the amount you need to finance, not the financial support amount. This means that you can lower your mortgage payments by applying savings to the deposit.
How Do I Know if I am Eligible for BuyAssist’s Financial Support Program?
We only have a few basic criteria that we use to evaluate potential homeowners for eligibility. These criteria are designed to help Australians who would otherwise be excluded from the housing market. If you want to know if you’re eligible, all you need to do is click the button below and answer a few simple questions:
A real solution to home ownership.
We have criteria that we use to evaluate each potential homeowner for eligibility to the BuyAssist financial support program. These criteria are designed to help Australians who would otherwise be excluded from the housing market. We will not be able to help everyone, but by registering your interest and demonstrating the need for affordable housing, you will help us in our task of finding more properties for the BuyAssist program. One of those properties may be right for you!
Please complete the form below: