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Common questions about the first home owners grant
Answers to your questions about the First Home Owner Grant
What is the First Home Owner Grant?
The First Home Owner Grant Scheme (FHOGS) is a government funded scheme which provides a payment of $7,000 to eligible first home buyers who are purchasing their first home to live in.
- The Scheme is not available to purchase an investment property that you are not going to live in.
- You remain eligible for the grant up to 12 months following settlement of your new house, so if you have recenly bought one or built one, you still have time to apply for this grant.
What is the First Home Owner Grant Scheme?
The $7,000 first home owner grant was created to help you buy or build
your first home. It is a federal initiative that is administered and
funded by the state government.
Click HERE for the State Government Office of State Revenue Webpage - it's very comprehensive and self-explanatory
How can I use the First Home Owner Grant for a deposit?
Most lenders will allow you to use the First Home Owner Grant as your deposit.
Perigee Finance will negotiate this for you.
How can I be sure of getting the First Home Owner Grant at settlement?
Leave that to us at Perigee Finance.
We know how to make this happen for you.
Otherwise you will have to wait at least 6 weeks after settlement to receive the funds.
What other benefits am I entitled to?
If the first home you want to purchase is under $500,000 you won't have to pay
loan stamp duty or purchase stamp duty. Depending on your personal circumstances
you may also be entitled to other special benefits such as no transfer duty, no
mortgage stamp duty, reduced Lenders Mortgage Insurance rates and reduced home
loan rates. At Perigee Finance we work with you to maximise your benefits.
Do I have to live in the property, once I've received the First Home Owner's Grant?
Yes, this is one of the conditions of the grant. You must live in the home for
at least 6 months within the first 12 months after you have purchased the house.
You may also need to live in the house for at least 12 months to be sure to meet
the transfer of stamp duty conditions as well.
Email any other questions you have and a Perigee Finance Mortgage Consultant will reply to you within a 24 hour turnaround.
