Buying your first home is an exciting time, but it can also be challenging if you don’t know where to start.
Understanding the home buying process and real estate terminology can be difficult and, with property prices high in many parts of the country, buying a home can be very expensive so it’s important to get it right.
Prime Loans can help you:
- Set a budget for your first home
- Grants and incentives first-home buyers get
- Getting the loan
- Putting you in touch with industry professionals who can guide you through property selection
Learn throughout your journey with Prime Loans
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Frequently Asked Questions
The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation.
Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria.
Yes. Each state has their own grant so there are differences.
It's fairly straight forward. If you are eligible, there is a bit of paperwork to go through which Prime Loans can do and then you receive one off payment from the government.
Yes, you can use the First Home Owner Grant (FHOG) as part of your deposit but you will usually need to have existing savings as the FHOG alone is rarely enough to cover a deposit.
Yes, a first home buyer is entitled to the grant regardless of the property type.
Please speak to Prime Loans and we will guide you through this answer as each state has different requirements for the First Home Owners Grant Scheme (FHOGS)
Whatever you wish as there are no restrictions on how you can spend your money.
Please call Prime Loans and we can answer all your questions and help check your eligibility.
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Credit Representative 509436 is authorised under Australian Credit Licence 389328.
Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.
Lenders terms, conditions, fees and charges may apply.