Government Grants
The Australian government offers several grants and schemes to assist first-time homebuyers and other eligable individuals in purchasing a home
First Home Owner Grant (FHOG)
A one-time grant available to first-time homebuyers who purchase or build a new home. The amount varies by state and territory.
Eligibility
- Must be a first-time homebuyer
- The home must be new or significantly renovated
- Applicants must occupy the home as their principal place of residence for a continuous period, usually 6-12 months
Grant Amount
Typically between $10,000 and $20,000, depending on the state or territory.
For more information, click here
First Home Guarantee (FHBG)
Formerly known as the First Home Loan Deposit Scheme, this allows eligible first-time buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).
Eligibility
- First-time homebuyers
- Must meet income and property value thresholds.
Property Price Caps
Varies by location and type of property
Limited places are available each financial year.
For more information, click here
Family Home Guarantee
Helps single parents with at least one dependent child to buy a home with a deposit as low as 2%, without paying LMI
Eligibility
- Single parents with at least one dependent
- Must be an Australian citizen
- Must not currently own property
Limited places available annually.
For more information, click here