Owning a home can be a driver of wealth creation. It also improves health and social outcomes. By providing a stable base it supports people seeking employment or educational opportunities. Some Aboriginal and Torres Strait Islander people have said that owning a home can create strong family links. A home is also an asset that can be passed onto children and secure their future.
Indigenous Business Australia (IBA) is a corporate Commonwealth entity.
Through the Indigenous Home Ownership Program (IHOP), IBA offers concessional home loans to First Nations people who cannot access mainstream lending.
IHOP loans have:
- low introductory interest rates
- low deposit requirements
- flexible repayment conditions.
IBA also offers culturally appropriate advice and support services to its clients, including
- workshops for people to build financial skills and knowledge
- assistance in transitioning to mainstream financial services.
Since 1975, IHOP has helped over 21,000 First Nations families into home ownership.
For more information please go to : https://iba.gov.au/home-ownership/about-iba-home-loans/