The Federal Government’s decision to extend the First Home Owner Grant (FHOG) Boost for 3 months, before phasing it out on December 31, 2009 will give Australians looking to buy their first home the relief of additional financial assistance and more time to find their ideal home.
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RAMS Home Loans has experienced a surge in home loans since the inception of the FHOG Boost in late 2008, which has also led to an increase in property demands Australia-wide.
While the extension to the FHOG Boost will give Australian first home buyers more time to do their research, consider their financial options, talk with experts and find the right property to suit their needs… the clock will still be ticking.
The Federal Government has extended the FHOG Boost for first home buyers entering into contracts until December 31, 20099, however it will only continue at the full rate until September 30, 2009.
From October to December 2009, the FHOG Boost will be reduced from $14,000 to $10,500 for established homes and from $21,000 to $14,000 for newly constructed homes.
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RAMS has a wide range of home loan options, specifically designed to suit the needs and situation of first home buyers. To find the home loan option that works for you, visit the First Home Buyer pages on www.rams.com.au
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You can also access additional information on the FHOG Boost and download helpful checklists click here.
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