First Home Owners Grant Criteria List

If you're a first home buyer, you probably have a million questions running through your head - how much do I need for a deposit? Do I qualify for a first home owner grant? What interest rates are available? Do I want a fixed or variable loan? - The list is endless.

The broad principles of the first home owner grant are:

Eligible applicants from 1 July 2000 are entitled to a one-off $7,000 payment.
Eligible applicants must be natural persons who are Australian citizens or permanent residents, who are buying or building their first home in Australia. Requirements vary between jurisdictions regarding the number of applicants who must be an Australian citizen or permanent resident and how old an applicant must be. Please select the State or Territory under More Information below to determine eligibility.
To qualify for assistance, neither the applicant nor their spouse (or de facto) must have owned a home prior to 1 July 2000, either jointly, separately or with some other person.
Neither the applicant nor their spouse (or de facto) must have owned and occupied a home after 1 July 2000.
Neither the applicant nor their spouse (or de facto) must have claimed this grant previously.
Entering into a binding contract or commencement of building, in the case of owner-builders, must have occurred on or after 1 July 2000.
An eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that lawfully can be used as a place of residence.
An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of settlement or completion of construction of the home. There are minimum periods of occupancy required by jurisdictions.
Application for the grant must be made within 12 months of completion of construction or settlement of the home.
Assistance will not be means tested.
There is no tax payable on the grant.
Joint applicants will be restricted to a single application for a single property and only one payment of $7,000 will be made.

If the consideration of the home is less than $7,000 then the grant amount paid to the applicant will equal the consideration.

The last thing a first home buyer needs is to be running around looking for answers to these questions. Speak to Refund Home Loans, and you won't have to - our brokers can offer a first home buyer kit that covers all these topics, including the first home owner grant, so call us on 1300 REFUND or enquire today.

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