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First Home Owners Grant

The First Home Owners Grant (FHOG) is a once-off tax-free payment to anyone buying their first home in Australia. It is funded by each State & Territory Government.

Eligible applicants are entitled to a once-off $7,000 grant (plus boost payments of up to a further $14,000) provided that certain extra eligibility criteria are met.

How Do I Qualify?

First Home Owner Boost (FHOB) and Other Additional Grants

Using the FHOG as a deposit

How do I apply for the grant?

 

How do I qualify?

  • You must be an Australian citizen or permanent resident buying or building your first home in Australia
  • The property you buy must be a recognised house, unit or flat for the purpose of owner occupation (not a rental property)  
  • You or your partner must not have purchased in Australia before
  • You must occupy the home within 12 months of settlement or within 12 months of building completion if it's a newly built home
  • You must apply for the grant within 12 months of settlement or building completion

As part of various state budgets additional First Home Owner Boost (FHOB) Grants, other incentives may be available to you depending on which state you are purchasing your home.

To get further information about grants available in your state consult the following state of territory government agency website, or Contact your Time Finance specialist:

ACT

New South Wales

Northern Territory

Queensland

South Australia

Tasmania

Victoria

Western Australia

Using the FHOG as a deposit

If you qualify for the FHOG, mortgage lenders will consider it as part of your savings and contribute it toward the deposit amount on the purchase of a property.

How do I apply for the grant?

In most cases mortgage lenders are able to act as agents for the corresponding Government Agency in your state.  Your Time Finance Mortgage Broker can assist you in completing the relevant forms as part of the home loan application therefore ensuring the funds will be available at settlement or in your first progress payment if building a home.

If you apply directly to the Government Agency the funds will not be available until after settlement or completion of the home if you are building.

 

This time, like all times, is a very good one, if we but know what to do with it.
Ralph Waldo Emerson

 

First Home Owners Grant

  • For first home buyers
  • Must move into property to live
  • From $7,000 to $21,000 available
  • Extra state bonus available
  • Used as part of your deposit
  • Critical closing dates apply
  • Act now
  • We will coordinate for you

Have a professional Time Finance mortgage broker contact you to get your loan requirements arranged on a no charge, no obligation basis.

Call 1300 833 839 or enquire online ›››

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