7NEWS Australia published this video item, entitled “First home buyers, who are also NSW paramedics and child care workers, given a boost | 7NEWS” – below is their description.
Buying a first home is getting increasingly difficult but now paramedics and childcare workers are being given access to a state government scheme to help them get on the property ladder. The shared equity model allows key workers to buy a home with a deposit as low as 2 per cent.
The maximum price of a property that can be purchased under the scheme is $950,000 in Sydney, and regional centres, like the Illawarra, Central Coast, Lake Macquarie, Newcastle and the North Coast. And it’s capped at just $600,000 for the rest of New South Wales.
To be eligible participants gross annual income can’t exceed $90,000 for singles. And for couples the maximum is $120,000.
7NEWS Australia YouTube Channel
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