A helping hand – lender products and government assistance
Good news. There is plenty of financial assistance available for first home buyers – from useful products from lenders to government grants and concessions
Low deposit loans
Saving to buy your first home is not easy. But it isn’t always necessary to raise the traditional 10% home deposit. To help you get into your home sooner, most lenders now approve loans of up to 95% of the property’s value.
First Home Buyers Grant (FHOG)
A tax-free grant is available to home buyers who have never owned a property before – this condition also applies to any co-owners you purchase a property with. To be eligible you must be an Australian citizen or permanent Australian resident. Only one grant is payable per property – even when the home is purchased in joint names. You will need to use your home as your permanent residence for at least six months after purchase, or even begin living in it within one year of settlement or following completion of building