Help & support
The First Home Owner Grant (FHOG) was introduced in 2000 to partly offset the effect of the Goods and Services Tax (GST) on buying or building a home. It’s a one-off payment for eligible first home buyers who buy or build a residential property in which they live.
The FHOG is a national scheme funded and administered by each of the states and territories under their own legislation. It’s not means tested, which means your eligibility isn’t subject to financial considerations such as your income.
The grant amount, eligibility criteria and payment details of FHOG vary between states and territories, so it’s important to check with your Home Lending Specialist when you apply for a home loan.
You may be eligible for the FHOG if, as well as being a first home buyer, you also:
The grant is usually paid to your home lender at the time of settlement and applied directly to your home loan. If you’re building a home, the grant will be approved when your first loan repayment is due.
Some state and territories have additional grants or discounts for first home buyers who buy or build a home, especially in regional areas.
* Standard Variable interest rate (Owner Occupied) for new borrowings with a Loan to Value ratio of 60% or less with Wealth Package1. The rates shown are for Principal and Interest repayments with product discount margin offer. Minimum new borrowings of $10,000. Comparison rate warning
We're proud to be working alongside the Australian government to help more first home buyers realise their property ownership goals sooner.
The First home super saver scheme allows you to save money for your first home using your superannuation fund. This scheme, run by the Australian Taxation Office (ATO), helps first home buyers save faster by allowing them to withdraw voluntary super contributions they’ve made to their super.
For more information, visit the ATO website.
Stamp duty is a tax levied by state or territory governments on certain purchases, including buying a home, land, or investment property. Depending on your state or territory, you may be eligible for concessions as a first home buyer – check with your local revenue office.
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Rate/s apply to new lending only and may include a margin below or above the applicable reference rate. The current reference rates including for Interest Only payments can be found here.
1 To apply for a Wealth Package, you must have an eligible home loan or line of credit with an initial package lending balance of at least $150,000 at the time of your application. Package lending balance is the sum of the account balance of eligible home lending accounts and the credit limit of Viridian Line of Credit accounts that you have with us at the time you apply for Wealth Package. Eligible home loans include: Standard Variable Rate home loan, Fixed Rate home loans and Viridian Line of Credit. A non-refundable annual fee of $395 is payable in advance. The package can be established in the name of one or two individual’s name/s, or in the name of a corporate entity. It cannot be established in the name of a business or family investment trust. Please refer to the Wealth Package Fact Sheet and Package Terms and Conditions (commbank.com.au) for full details.
** Comparison rate calculated on a $150,000 secured loan over a 25-year term. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. You should also read our Financial Services Guide.
