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First Home Buyers

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Buying Your First Home?

Most of us dream of owning our own home, however, this is often a daunting and costly prospect. There are fees such as mortgage insurance, stamp duty, conveyancing fees and then there is a deposit to come up with.

First Home Buyers Grant

In July 2000 the Government introduced the First Home Buyers Grant (FHOG) to offset the impact that the then newly introduced GST would have on the housing sector. The grant is a one off non-means tested payment of $7000 given to first home buyers for the purchase of either new or established homes.


Are You Eligible To Apply?

To be eligible you need to meet the following criteria:
  •     Are you a natural person i.e not a company?
  •     An Australian Citizen or permanent resident and over 18 years old?
  •     You or your co-applicant cannot have owned a residential property either jointly, separately or with another  person  before July 1 2000 in any State or Territory of Australia.
  •     Neither you nor your co-applicant can have received the FHOG before in any State or Territory.
  •     The home must be located in Australia, be new or established and meet the local planning standards.
  •     The home must be the principal residence and be occupied within 12 months of either settlement or construction.

For further information, contact us on 1300 123 133.

First Home Buyer Frequently Asked Questions:

1) Am I eligible for First Home Owners Grant?

The first home owners grant one-off federal government grant of $7,000 designed to help those who are eligible, to buy or build their first home. Find out if you are eligible contact us. There are also a range of state concessions available, your consultant can tell you more about these.

How much can I borrow?

Did you know that some lenders may allow you to borrow more than others? Each lender has their own lending policies and criteria meaning they each calculate the amount of money they will lend you differently. The advantage of speaking to your consultant is that they can tell you the maximum you can borrow from each lender. Complete the "How much i can borrow enquiry form" and we will advise you.


2) How much do I need to save for a deposit?

As a general rule, if you are an owner-occupier you will require 5% of the purchase price as a deposit. There are now loans available that allow you to borrow 100% of the purchase price. Ask your mortgage consultant whether this is a good option for you.

3) How do I get started?

You can book an appointment with your local Home Loans Perth Mortgage Consultant by calling 1300 123 133 and a consultant will arrange an appointment at a time and a place that suits you.

REBA Assistance Grant - Western Australia

The REBA grant is a state government scheme in Western Australia, administered by the Real Estate and Business Agents Supervisory Board. It is a grant for first home buyers who purchase an established or partially built home (not vacant land, a plan or a house and land package).

The REBA grant is up to $2,000 to assist first home buyers with fees associated with buying your first home such as settlement agent fees, loan establishment fees and mortgage registration fees. Some of the conditions to qualify for the REBA Grant are -

  1. You must purchase the home from a licensed real estate agent
  2. The purchase price must be $400,000 or less
  3. You must live in the house for a minimum of 12 months
  4. Your home loan is financed through an authorized lending institution such as a bank, building society or credit union
  5. Your Application for the REBA grant is lodged within 90 days after the date in which your offer to purchase the property was accepted
  6. Applicants must be buying their first home, which is established or partially built (not vacant land or a house and land package)

The REBA grant is generally paid to your home loan around 8 weeks after the settlement of your first home. It is another great incentive from the Western Australian state government and the Real Estate Agent And Business Supervisory Board.

For more information on this grant, please contact a 123 Mortgage Consultant on 1300 123 133. As Mortgage Brokers we also assist you in completing the application and can submit it on your behalf for approval.