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Australian government accelerates home loan scheme, helping first-time buyers with lower deposits.
The Australian government will launch its First Home Loan Deposit Scheme in October, three months earlier than planned.
The scheme allows first-time buyers to purchase a home with a 5% deposit, with the government providing the remaining 15% as guarantor, eliminating costly mortgage insurance.
This expansion to all first-time buyers is expected to help 70,000 people in its first year, up from the current cap of 50,000.
The move aims to make home ownership more accessible for young buyers.
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