The First Home Owners Grant (FHOG) is a name that gets thrown around quite frequently when considering becoming a home owner for the first time. You may already know the major key point: that first home buyers receive $10,000 towards their new home. However, you may not know some of the nitty gritty details.
The FHOG is a Government funded one-off payment of $10,000 to help assist first home buyers to buy or build a residential property. The grant is not a cash payment made directly to the person, rather it is given to your home lender at the date of contract and applied directly to your home loan.
Only one grant is given per eligible transaction – so if there we’re two people buying a house together they would only receive one grant. The grant is not available for the purchase of an established home or for renovations to an existing home.
•Must be an Australian Citizen or permanent resident.
•At least 18 years of age.
•Have to be a first home buyer who has not previously owned or had interest in a property in Australia either separately or jointly.
•Must intend to be owner occupiers of the property for at least 6 months.
•Couples are only eligible is they are married or in a de-facto relationship with each other.
When you’re applying for a loan through an approved lender/agent, you will also fill out the First Home Owners Grant application, which the lender will process with your loan application. Otherwise, you can apply for the grant directly through the Department of Finance website.
The grant payment depends on the type of transaction and how your application was submitted.
*If you have applied through an approved agent, they will receive the grant on your behalf. If you have applied through the DOF, you’ll receive the grant.
The First Home Owner Grant can be attained when going through your bank or mortgage broker. They will collate all the documents, so this will all be taken care of. Move Homes doesn’t have any involvement with the application of the grant- it’s all done by their finance team.
To be eligible for the First Home Buyers Grant, you must be over the age of 18, intend to occupy the property for at least six months and an Australian citizen or permanent resident.
The First Home Owner Grant (FHOG) can contribute up to $10,000 when you buy or build a new home.
The First Home Owners Grant was introduced in 2000 as a way to assist first home buyers on their journey to purchasing their first home. The grant is available as a one-off payment to those over the age of 18, who are Australian citizens or permanent residents.
Only one First Home Owner grant is given per eligible transaction. Therefore, if a couple are looking to purchase a house together, they’ll receive one grant only.
Want to find out if you’re eligible for the First Home Owners Grant? Send us a message and we’ll be in touch!
Over the last 50 years we have proudly built over 15,000 homes for Australian families. We have the same values today as we did in 1969 when we built our first home in Light Street Dianella.
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