What grants are available to me?

What grants are available to me?

To put it simply, the grants available to you are dependent on your state. Each state has a different approach to First Home Buyers, but as a starting guide:

  • Stamp Duty ReductionsThis is determined state by state – some states remove the stamp duty entirely up to a certain purchase price. Others like South Australia don’t do anything for you!
  • FHLDS/HGS (First Home loan deposit scheme/Home guarantee scheme) – A federal initiative made to support you in purchasing a home sooner. These can also have loan size limits, deposit minimums of 5%, and it's important to note that only certain lenders participate in these schemes.
  • FHLSSS (First Home Super Saver Scheme) – Also a federal initiative, which allows you to save money for your first home through your super fund.

Another thing to consider is that some banks offer incentives to assist First Home Buyers. For example, ANZ have historically had campaigns where they will pay $2,000 towards conveyancer costs, and Suncorp offers special FHB products where you can get a discount on their rate.

For information that is up to date and the most relevant to you, we suggest getting in touch. This can be a bit of a minefield, but our team are well equipped to see what you qualify for.

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