Am I eligible for the First Home Owners Grant?

The First Home Owners Grant is a government sponsored grant that helps first time buyers get their foot in the property market.


What is the First Home Owners Grant?

It was first introduced in 2000 to offset the introduction of GST on home ownership. Today most states use the First Home Owners Grant to encourage buyers to purchase new or developed properties. The grant is paid by the states and territories so depending on where you live, your eligibility and the amount will vary.


Who is eligible for the First Home Owners Grant?

Although the First Home Owners Grant is set by the state and territories, there are some general rules that apply across Australia:

  • All applicants must be over 18 years of age.
  • The purchase must be done as a person, not a company or trust.
  • It must be the first purchase of property by the purchaser or co-purchaser.
  • Any purchaser(s) must be Australian citizens or permanent residents.
  • The property will have to be occupied by the purchaser for a period of time (time varies between states).
  • Only one grant will be given to couples or partners purchasing a property together.
  • The value of the property will have to be below a certain value (amount depends on the state).

When do you get the First Home Owners Grant?

Your mortgage broker will complete all your paperwork to get the First Home Owners Grant. You can choose to either have the grant applied to the balance of your home loan or as cash after your loan settlement.

It’s important to note that some lenders will let you use the First Home Owners Grant as part of your loan deposit. A mortgage broker can explain if this applies to any lender you’re interested in.


Why you need to talk to a mortgage broker about the First Home Owners Grant.

Our mortgage brokers know the latest changes state governments have in store for stamp duty. By advising if a grant is ending or coming up soon, you may save money.

You can use our Stamp Duty Calculator to see if you’re currently eligible for the First Home Owners grant in your state. However a mortgage broker can tell you may or may not be eligible for you now and in the future.

If you’re eligible for the First Home Owners grant, your mortgage broker will apply for the grant for you and complete all the paperwork needed.

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