First Home Owners - Questions and Answers

News & Views - No Deposit Home Loans On Line

No Deposit Home Loans
No Deposit Home Loans allow you to purchase your own home or an investment property without having any genuine savings.

This type of home loan allows the First Home Buyers the opportunity to make there dreams come true in owning there own home.
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Loans First Home Buyer
We have access to over 30 residential Home Loan lenders and the great majority have approval from the appropriate Government Bodies to process the First Home Owners Grant.
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First Home Owners Grant
Although the First Home Owners Grant is provided by the Federal Government, States also provide additional funds and / or concessions.

It is important the you are aware of what you are entitle to and you can achieve that by talking to one of our consultants, your solicitor and even use our Stamp Duty Calculator to determine how much of a discount you are able to obtain on your first owner occupied property.
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Stamp Duty Calculator
Our Stamp Duty Calculator is a tool which our First home buyers can utilise as it provides an indication on whether you need to pay Duty to the State according to your purchase price.

Remember that each state offers different concessions to First Home buyers, and this calculator will provide you with an indication according to your individual need and requirements.
Feel free in using the Stamp Duty Calculator.

 

 

 

 

 

 

 

 

First Home Owners - Questions & Answers

Here we look at some of the commonly asked questions about the first home owners grant. Many of them you probably haven't thought about but are there anyway as each person's situation is different.

We invite you to browse through this information and if there are any question you still may have you can simply contact us and speak to a home loan consultant to find out more.

First Home Owners Grant - Questions and Answers

How do I apply for the first home owners grant? How do I apply for the first home owners grant?
You can apply in two ways, one is to apply directly through the relevant state government or you can apply for the first home owners grant through no deposit home loans online and the home loan provider you choose will process it in preparation for settlement You can apply in two ways, one is to apply directly through the relevant state government or you can apply for the first home owners grant through no deposit home loans online and the home loan provider you choose will process it in preparation for settlement
What if I have owned a property many years ago, can I still get the grant? What if I have owned a property many years ago, can I still get the grant?
If you have had your name on a title of a property you are unable to receive the first home owners grant. If you have had your name on a title of a property you are unable to receive the first home owners grant.
Do I also get concessions on stamp duty if I’m a first home owner? Do I also get concessions on stamp duty if I’m a first home owner?
In most states you do receive either a concession or an exemption from stamp duty up to a certain level In most states you do receive either a concession or an exemption from stamp duty up to a certain level
What if my partner has owned a property in the past but I haven’t, am I still entitled to the first home owners grant? What if my partner has owned a property in the past but I haven’t, am I still entitled to the first home owners grant?
In some states you are able to still obtain the first home owners grant and a percentage of stamp duty concessions based on the ownership split In some states you are able to still obtain the first home owners grant and a percentage of stamp duty concessions based on the ownership split
Are there more concessions for lower income earners or people with dependant children under a certain age? Are there more concessions for lower income earners or people with dependant children under a certain age?
Yes, in some states there are additional concessions available which are income and dependant based Yes, in some states there are additional concessions available which are income and dependant based
Does the first home owners grant count as assessable income for my tax return? Does the first home owners grant count as assessable income for my tax return?
No, the first home owners grant is classified as non taxable No, the first home owners grant is classified as non taxable
My partner and I are both eligible for the first home owners grant, do we both get the grant when we buy a property? My partner and I are both eligible for the first home owners grant, do we both get the grant when we buy a property?
No, the first home owners grant is only provided on one property whether there are two or more applicants who are eligible for the grant and they are buying into the same property No, the first home owners grant is only provided on one property whether there are two or more applicants who are eligible for the grant and they are buying into the same property
Can I obtain the first home owners grant if I want to purchase an investment property? Can I obtain the first home owners grant if I want to purchase an investment property?
No, the first home owners grant is only to be used when the property is to be occupied by the owner No, the first home owners grant is only to be used when the property is to be occupied by the owner
When do I have to occupy the property to satisfy the first home owners grant requirements? When do I have to occupy the property to satisfy the first home owners grant requirements?
There are differing rules in each state although in general the property must be occupied within 12 months of settlement and for a consecutive period of 12 months thereafter There are differing rules in each state although in general the property must be occupied within 12 months of settlement and for a consecutive period of 12 months thereafter
When will the first home owners grant finish? When will the first home owners grant finish?
There is no set date for the first home owners grant to expire at this time There is no set date for the first home owners grant to expire at this time
I’m divorced and my ex partner owned a home in their own name, does this disqualify me from obtaining the first home owners grant? I’m divorced and my ex partner owned a home in their own name, does this disqualify me from obtaining the first home owners grant?
No, as long as you never held a relevant interest in that previous or any other home and satisfy the other qualification criteria you would be eligible for the grant No, as long as you never held a relevant interest in that previous or any other home and satisfy the other qualification criteria you would be eligible for the grant
What if I have previously owned a property in another country, can I still obtain the first home owners grant? What if I have previously owned a property in another country, can I still obtain the first home owners grant?
The first home owners grant only applies to homes in Australia The first home owners grant only applies to homes in Australia
Can a company or a trust that is purchasing the property obtain the first home owners grant? Can a company or a trust that is purchasing the property obtain the first home owners grant?
No, the grant is not available to companies or trusts No, the grant is not available to companies or trusts
I’m a permanent resident of Australia so does this mean I can obtain the first home owners grant? I’m a permanent resident of Australia so does this mean I can obtain the first home owners grant?
Yes, you can obtain the first home owners grant although you will need to provide evidence of your permanent residency Yes, you can obtain the first home owners grant although you will need to provide evidence of your permanent residency
Does my income or purchase price affect my eligibility for the first home owners grant? Does my income or purchase price affect my eligibility for the first home owners grant?
No, there is no limitation on your income or purchase price which affects your eligibility No, there is no limitation on your income or purchase price which affects your eligibility
What if I have owned a commercial property, does this disqualify me from the grant? What if I have owned a commercial property, does this disqualify me from the grant?
Not normally, as long as you satisfy the criteria of the first home owners grant and the commercial property did not have a residence attached you may still be eligible for the grant Not normally, as long as you satisfy the criteria of the first home owners grant and the commercial property did not have a residence attached you may still be eligible for the grant
If I’m buying a property in my name only does my partner who will be living with me also need to fill in the first home owners grant application? If I’m buying a property in my name only does my partner who will be living with me also need to fill in the first home owners grant application?
Yes, this needs to be disclosed and there is a section within the application form which your partner needs to fill in and sign Yes, this needs to be disclosed and there is a section within the application form which your partner needs to fill in and sign
Are there any restrictions on what the first home owners grant can be used for? Are there any restrictions on what the first home owners grant can be used for?
No, there are no restrictions on what the grant can be used for No, there are no restrictions on what the grant can be used for

Remember that each state has its own unique guidelines and requirements for the first home owners grant so we suggest you contact us and ask one of our consultants to help answer any questions you may still have.

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