Buying your first home can be a daunting task, particularly if you’ve never accessed home loans before. Home loans in Australia can be difficult to navigate, particularly as it’s probably the biggest financial transaction you’ve ever undertaken.
At Australian Credit and Finance we are here to help you navigate your way through buying your very first home. Our home loan experts will walk you through the process and help you apply for any grants you’re able to access. We’ll even help you right through to settlement.
First Home Owners Grant
The First Home Owners Grant is a national scheme that is funded by each state and territory. It was introduced on 1 July 2000 to help offset the cost of GST on home ownership.
The scheme differs between each state and territory, so if you want to see if you are eligible, visit the First Home Owner Grant website to check out these details first.
The first home owners grant provides you with funds for buying a new home and for building. The criteria for each of these is slightly different, so make sure you’re aware of this information before you start the process of looking for a new home.
You will still need to have a deposit to get access to a home loan, but this is greatly reduced due to getting access to a first home owners grant.