Saving for a home deposit is hard. When you’re making weekly rent payments, it can take years before you reach the amount banks require. That’s why Move Homes is one of the founding supporters of the Home of My Own Foundation. The purpose of this not-for-profit is to provide grants to eligible clients of up to $5,000 to be used for a deposit to build their new home.
Who created the foundation?
The foundation was created by our parent company, The Prime Group, after noticing a high number of potential clients unable to obtain finance. The mortgage repayments were manageable but reaching the required savings goal would take years- and if you’re living with your partner and their parents, those years begin to feel like decades! Realising that gifting clients up to $5,000 would be the difference between renting and home ownership, the Foundation was created.
Who supports the Foundation?
Many of Perth’s leading suppliers of construction materials and services are founding sponsors of this not-for-profit. Understanding that more homes under construction means more work for their company, there was an overwhelming support from small, medium and large organisations. Currently there are 38 companies that have donated to Home of My Own Foundation, and without them the foundation would not exist.
Am I eligible?
All applications are subject to approval, but applicants will need to meet the below requirements to ensure they are:
- A permanent resident of Australia
- Over 18 years of age
- Have not previously owned property in Australia
- Will live in the purchased property as my principal place of residence
- Am employed or self-employed
What’s the catch?
You need to build with Move Homes – a company backed by 50 years experience.
There’s no higher interest rates because you can choose your own mortgage broker or bank institute. There’s no restriction on what house design or suburbs to live in so long as the total package comes under $480,000.
So if you’re looking for low deposit or no savings loans, a grant from the Home of My Own Foundation could be the difference between building your own home or renting. You can either check out the Foundation’s website here or get in touch with one of our team.