What grants & schemes are available for buyers?

Buying your first home is one life's biggest financial commitments, so it's important to be aware of any assistance that can get you that one step closer to owning your dream home.  

Here are all the current grants and schemes that are available to Australian home buyers. 

First Home Loan Deposit Scheme (FHLDS): 

This scheme allows first home buyers who only have a small deposit (from 5%) to get a home loan without paying Lender’s Mortgage Insurance (LMI). 10,000 First Home Loan Deposit Scheme places will be available to eligible first home buyers from 1 July 2021 to 30 June 2022. 

Update: The Australian Government is issuing 4,651 additional guarantees to support first home buyers who haven't had an opportunity to purchase their first home, including because of COVID disruptions. These scheme places are available from Monday, 31 January 2022.

For more information and eligibility requirements click here. 

First Home Super Saver Scheme (FHSS): 

This scheme helps Australians boost their savings for a first home by allowing them to build a deposit inside superannuation, giving them a tax cut. From 1 July 2022, first home buyers can make voluntary super contributions of up to $50,000 into their super, then withdraw this amount to form their deposit on their first home. Only voluntary contributions can be accessed as part of this scheme.

For more information and eligibility requirements click here. 

The Family Home Guarantee Scheme (FHG):  

The Family Home Guarantee supports eligible single parents with at least one dependent child in purchasing a family home, regardless of whether that single parent is a first home buyer or a previous home owner. Under this Scheme, part of an eligible home buyer’s home loan from a Participating Lender will be guaranteed by NHFIC. This is aimed at enabling you to purchase your first home sooner with as little as a 2% deposit.

10,000 Family Home Guarantees will be made available over four financial years from 1 July 2021 to 30 June 2025.

For more information and eligibility requirements click here. 

First Homeowner Grant (FHOG): 

The First Homeowner Grant varies from state to state. Currently in NSW the grant amount is $10,000 towards the purchase price of your home , in addition to the First Home Buyers Assistance Scheme benefits. 

For more information and eligibility requirements click here. 

Stamp duty concessions: 

Stamp duty is decided by each state or territory government,  so rates and exceptions vary state-by-state.

Buyers who are eligible for the First Home Buyer Assistance scheme may be able to access an exemption or concessional rate on the transfer duty applicable to their purchase. 

For new homes valued at less than $800,000, existing homes valued less than $650,000, or $400,000 for vacant land, NSW residents may be able to apply for a full exemption.
For those purchasing a new home between $800,000 and $1 million, an existing home between $650,000 and $800,000, or vacant land between $400,000 and $500,000, may be eligible for a concessional rate.


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