Loan types

HOMESTART NT Standard Variable Loan

• Allows you to buy 100% of your home just like a normal home loan.
• Available funds can be redrawn for approved purchases – minimum redraw amount is $500.

Homestart NT Shared Equity Loan

• Allows you to buy a share of your home, between 70% and 99%.
• The Northern Territory Government (Territory Housing) owns the rest and provides its share of the property to you rent-free.
• The NT Government will invest $75 000 or 30% of the value of the property, whichever is less. 
• You can buy the NT Government’s share, or part of it, at a later date.
• You must pay for all rates, insurances and maintenance.

Homestart NT Fee Assistance Loan

• Interest-free loan to help with the costs involved in purchasing a property, including conveyancing fees, stamp duty, deposit and whitegoods.
• Maximum loan amount is $10 000 repaid over 15 years.
• Up to $1500 of the loan can be used to buy whitegoods.
• Only available to borrowers of a new HOMESTART NT loan.

Redraw
You can make extra payments on your standard variable or shared equity loan and redraw these funds for approved purposes. Minimum redraw amount is $500.

Deposit
Your deposit will depend on how much you can borrow and the price of the home. You must have a minimum 2% of the purchase price as a deposit. The First Home Owner’s Grant and the Fee Assistance Loan can help you with the deposit.

Borrowing limits
How much you can borrow depends on what you can afford. Your repayments will be no more than 30% of your household income to ensure it remains affordable for you. 

Interest rate
Interest rates are variable and change regularly. Current interest rate.