What is the first homeowners grant and am I eligible to apply?
The First Home Owners Grant is a type of grant that the Federal Government gives to first home buyers.
All Australians need to know about the eligibility criteria between states and the benefits involved.
Aside from the location of the borrower, other details that affect your grant are:
- Whether the house is new or you will build it yourself
- If it is an established property
- Purchasing a vacant land
- Building type
- Purchase price of the property you want to buy
To discover more in relation to the First home owners grant and eligibility in Western Australia please visit our First Home Owners Grant page.
What is the First Home Loan Deposit Scheme?
The First Home Loan Deposit Scheme is essentially a way for first home buyers to secure the home they want to purchase with a five per cent deposit. The scheme eliminates the requirement of paying the mortgage insurance premium of the lender.