First Home Ownership - Genesis Program | ENIGMA CORPORATION GROUP

Genesis Program

“Helping Australians Keep the Dream Alive”

If we can’t get you into a home, it simply can’t be done

Genesis means “The Beginning” The dream of owning a home is an aspiration all of us have and is one of the most important financial decisions an individual or a couple will make. A lot of us build our lives on a series of assumptions, with high hopes for predictable outcomes and expectations of how things “might” turn out. The Australian way of life that meant a good job, charming house, super for retirement, is becoming less a reality and more of an illusion.  

Owning the First Home or even getting you in the home market for a lot of Australians is becoming close to impossible, especially in recent years.

It seems that the 21st Century discarded many dreams that most Australians held dear by the wayside in the process of just making ends meet.

The Genesis program aims to offer a cost-effective and realistic approach for more Australians to enter the Home and Property. The Genesis Program brings together Australia’s Leading Property Developers and Builders to build a one-stop shop for First Home Owners without a deposit.

  • The program is Australia’s leading“NO DEPOSIT HOME LOAN.”
  • The program is about helping young Australians “Realise the Dream of Home Ownership.”.
  • The Genesis program has been operating for 3 years and helped hundreds of Australians into the property market.
  • The program is a Joint Venture between Enigma Property Group and Australian Premier Builders and Developers


Enigma Property Group Consultants are facilitators, We are not Real Estate Agents, we are not Bankers what we do is facilitate the process of home ownership for youthful Australians who do not have a deposit.

The Enigma Property Group has found that it is near impossible for young Australians to get out of the Rental Cycle, saving a deposit while paying rent leaves the door closed to a majority of Australians who wish Realise the Dream of Home Ownership.”.

Enigma Property Group through its Genesis Program works directly with First Homeowners to facilitate the process of Home Ownership. We take the appositive approach to your financial needs. We invest in our own culture, creating relationships that transcend transactions and promote partnerships.

How Do We Do It

The program starts with a positive approach, our consultant’s partner with you to facilitate the process, We realize every client is different, and every client has unique needs. At our first meeting, we discuss the possibilities of you becoming a Genesis Program precipitant. Our motto is “If we can’t get you in a Home, it simply can't be done.

The Genesis Program is a 6 Step Program

Step 1 – The First Home Owners Grant (FHOG)

Each state government offers First Home buyers access too funding to help you get into the property market. Click Here to find out what you are entitled to do.

To be eligible you must pass the following requirements –

  • Never Owned a home in before
  • Be an Australian Citizen or
  • Permanent Residence Status
  • Your Partner has not owned a home before
  • Must be a New Home  (Never  Lived in )
  • You must reside in the Home for 6 months after completion
 

Step 2 – Good Credit Rating

  • You must have a good credit rating that means No Defaults
  • We provide you with a Veda File on your Status before proceeding
 

Step 3- Income

You must be able to service a loan, the amount you need to earn will depend on your circumstances that is your current debt, your personal details, and your partners' personal details

Our consultants will have your borrowing capacity worked out before we meet with you to discuss homes.



Step 4 – Genuine Savings

Most Banks today will want you to have genuine savings of at least 5%. An average Loan of $450,000 means you need to have $22,500.00 in a Bank account for 3 months to have genuine savings.

For Most Young Australians this is impossible!

The Genesis program works in conjunction with the Westpac Banking Group

Westpac – St George- Rams

The Westpac Group have come up with a very unique inactive that allows you to use your Property Lease as Genuine savings. What this means is if you have been renting a property for the last 12 months for say $450.00 per week, you have paid $23,400 in rent, the bank regards this as genuine savings.

You will need a letter from your Real Estate Property Manager confirming. Please note at this stage Westpac is the only Banks allowing a Rental Ledger to be used as Genuine Savings

Step 5 – Valuation

The property we facilitate for you must value to the cent, the banks will send an independent property valuer to value the House and Land Package. We only work in Estates where we know the land values. The Builders we work with know the sqm rate that bank values use.

All our homes are over 220m2, they are 4 bedrooms, 2 living rooms, and 2 Bathrooms, and we only do total turnkey packages. All our Homes we offer Value to the Banks REQUIREMENTS

 

Step 6 – Funds to complete

Whilst our Genesis programs are 100% finance you will need to put down $1,000.00 for your land, this is paid directly to the Land developer to take the block of land off the market AND WILL COME OFF YOUR PURCHASE PRICE

You will be able to borrow 97% of your Valuation price there will be a 3% shortfall that we finance for you through our own means, the finance provided is Interest-Free over 5 years from a company Called EquitBanx

The EquitiBanx loan interests 3 over 3 years, we organize an Interest only loan from the bank for 3 years that allows you to pay EquitiBanx back at an affordable rate.