Buying Your First Home?

Most of us dream of owning our own home, however this 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.

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 ie 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.

First Home Buyer Frequently Asked Questions

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.

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 consultant whether this is a good option for you.

How do I get started?

You can book an appointment with your local consultant by calling 1300 123 133 A consultant will call you to arrange an appointment at a time and a place that suits you.