First Home Buyer Grant
Learn more about what government grants and incentives you’re entitled to
LEARN ABOUT YOUR ENTITLEMENTS
The new First Home Loan Deposit Scheme launched in January 2020 allows first-home buyers to apply for a loan with a minimum deposit of 5%, instead of the usual 20% required. This will alleviate the hurdle of saving an initial down payment. Borrowers under the new scheme will also be exempt to lender’s mortgage insurance. To qualify for the new scheme, single first-home buyers must be earning under $125,000 annually and couples under $200,000 per year. There is an application criteria that you can learn more about here.
Queensland First Home Owner Grant Criteria
- You must be 18 years of age and over
- You must be an Australian citizen or permanent resident
- All loan applicants must not have previously owned property and lived in it in Australia
- The value of the land and the home must not exceed $750,000
- You are required to live in the property as your main home for at least six months consecutively within the first year of owning the home
New South Wales First Home Owner Grant Criteria
- You must be 18 years of age and over
- You must be an Australian citizen or permanent resident
- All loan applicants must not have previously owned property and lived in it in Australia
- Your home is newly constructed and has a total value of less than $600,000 or the land and the dwelling you intend to build has a combined value of less than $750,000.
- You are required to live in the property as your main home for at least six months consecutively within the first year of owning the home
Documents You Need
What's Next
With the new First Home Loan Deposit Scheme and the First Home Owners Grant available, there’s plenty of reasons to build with us. As well as the Government initiatives available for new home builds, we are competitively priced and provide great value. We also offer a range of flexible floor plans that accommodate the needs of younger families. If you are a first home buyer, enquire today and one of our expert New Home Consultants will take you through your options.
