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First Home Owner Grant

 
If you’re looking to buy or build your first home, there’s a helping financial hand, the First Home Owner Grant (FHOG). The FHOG is a national scheme funded by the states and territories and administered under their own legislation. The FHOG will provide a one-off grant of $7,000 to first home owners that satisfy all of the eligibility criteria.

In addition the Australian Government has adjusted the FHOG to include a First Home Owners Boost, which means those buying existing homes will receive a grant of $10,500 and those buying new homes $14,000. As of the 31st December 2009, the First Home Owners Boost will cease and the grant will revert back to $7,000.

For more information on the First Home Owners Grant and the First Home Owners Boost visit the government's First Home Owners website  or contact the State Revenue Office in your state.

You may be able to use it towards the costs of buying your home and it’s paid on completion of a transaction, such as a settlement. You’ll only get it once, so you don’t want to miss out.

As we’re a registered agent in most states, you can apply for the grant when you apply for a Teachers Credit Union home loan. Just ask our loans experts. In some states, you may also be eligible for savings on your stamp duty.