Accomplish Finance, First Home Owner Grant, Mortgage Broker, Queensland Sunshine Coast

First Home Owner Grant

It was recognised that due to the increase in property values and the associated costs in acquiring a home, that first time homebuyers found it increasingly difficult to enter the property market.

In July 2000, the Commonwealth Government under an agreement between with the States and Territories introduced a First Home Owner Grant (FHOG) to assist eligible first time home buyers to enter the property market in the way of a one off payment of $7,000 to offset expenses incurred in purchasing a property.

Some criteria of eligibility are:

Natural persons who are Australian citizens or permanent residents who are buying/building their first home in Australia.

The home must be occupied as principal place of residence within 12 months of completion of construction or settlement of the home.

You/your spouse/de facto must not have claimed this grant previously.

Neither you/spouse/de facto have owned a home after 1 July 2000 either jointly, separately or with another person.

You/your spouse/de facto have not owned a home after 1 July 2000.

You have entered into a contract of sale or an agreement for the purchase for a home in Australia.

Additional information:

The grant is tax-free.
In case of joint applicants only one payment of $7000 will be granted.
The grant is not means tested.

How do you apply for the FHOG and check your eligibility:

To check your eligibility we strongly advise that you seek independent legal advice from your Solicitor/Legal representative who will be able to assist you.
Or visit www.firsthome.gov.au
If you are eligible to receive the FHOG, Accomplish Finance can provide you with an application and checklist on how to apply for the grant; it is recommended that the FHOG application be submitted with your finance application to ensure funds will be available for settlement.