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First Home Owners Grant

The First Home Owner Grant is a government scheme that was introduced in 2000 to offset the effect of Goods and Services Tax (GST) on buying or building a home.

It’s a one-off payment for eligible first home buyers who purchase or build a residential property to live in. The First Home Owner Grant isn’t means tested, which means the eligibility criteria isn’t based on financial considerations, such as your income.

The grant amount, eligibility criteria and payment details of First Home Owner Grants vary between states and territories, so it’s important to check with your home lender when you apply for a home loan. Usually, you may be eligible if you:

  • Are a permanent resident or citizen of Australia
  • Have never received the grant or owned residential property
  • Are the minimum age set by your state or territory
  • Are buying a new or established home as an individual (not a company or trust)
  • Will live in the residence for the minimum time determined by your state or territory (the grant is not available on investment properties)
  • Apply for the grant within 12 months of settlement.

The grant is usually paid at the time of settlement to your home lender and applied directly to your home loan. If you are building a home, the grant will be approved when your first loan repayment is due.

Some state and territories have additional grants for first home buyers who purchase or build a home, especially in regional areas. We can help you apply for the First Home Owner Grant and any other benefits you may be eligible for, such as the First Home Loan Deposit Scheme, when you apply for a home loan. Simply make an appointment with a lending expert online, by phone on 13 2224 or at your closest branch.

Talk to a Home Lending Specialist

We can tailor a home loan that's right for you, and provide the tools and insights to meet your needs.