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Box 3.7.2(continued)HomeStart Nunga Home Loan (SA)In response to the low ownership rates amongst Indigenous South Australians,HomeStart Finance began a trial of a new product designed specifically for this market,called the Nunga Home Loan, in March 2004. Between March 2004 and March 2007293 applicants successfully purchased their own home with a HomeStart Nunga Loan.To gain a greater understanding of the needs of Nunga applicants, HomeStartconducted research into why Nunga customers had previously been unsuccessful ingaining approval for existing HomeStart home loan products. The results demonstratedthat lack of funds for a deposit, an adverse credit history and a high level of consumerdebt were the main barriers preventing successful home loan approval. In light of thisresearch, HomeStart designed the Nunga Loan with the following features:• a maximum Lending Value Ratio (LVR) of 105 per cent• acceptance of a limited number and amount of credit defaults• the ability to refinance smaller consumer loans within the 105 per cent LVR to assistthe customer in their overall monthly repayment commitments (SA Government,unpublished).Stamp duties assistance for first home buyers (Tasmania)The Tasmanian Government provides funding to the Tasmanian Aboriginal Centre Inc.to assist Aboriginal and Torres Strait Islander first home buyers with the payment ofstamp duties. First home buyers are able to combine this with the first home ownersgrant and loan funding from Indigenous Business Australia to make the purchase oftheir first home much more affordable (Tasmanian Government unpublished).Measuring Indigenous home ownership can be complex. The surveys used as asource of data for this Report do not ask for details about who the actual owners of ahome are, so the Indigenous status of the owner(s) cannot be determined precisely.Another approach would be to count Indigenous households owning or purchasingtheir own home, however, there are problems in defining an Indigenous household(that is, what proportion of household members need to be Indigenous for thehousehold to be classified as Indigenous?)Therefore, home ownership is explored in this Report by looking at the proportionof Indigenous people living in a home owned or being purchased by a member oftheir household. These households are referred to as home owner/purchaserhouseholds. Not all people living in a household owned by someone in thehousehold (for example, boarders) will share in the long-term economic benefits ofhome ownership. Some Indigenous people counted this way may be in householdswhere the owner is non-Indigenous. Overall, however, the approach used is68 OVERCOMINGINDIGENOUSDISADVANTAGE 2007