First Home Buyers
Making it easier to
buy your first home sooner
Buying your first home is everyone’s dream. But it’s tough
trying to save for a home loan deposit when you’re already
paying rent.
That's why we've made it easy for first home buyers with products
and services tailored specifically to your needs.
First home owners Grant
To
help people buy their first home, Federal and State governments
provide a one off payment of $7,000.
On October 14, 2008 the Federal Government announced a First
Home Owner Boost, increasing the amount of the one-off payment:
- First home buyers who purchase established homes will receive
an additional $7,000 increasing the total payment to $14,000
- First home buyers who purchase or build a newly constructed
home will receive an additional $14,000, increasing the total
payment to $21,000.
How do I qualify?
- You must be an Australian citizen or a permanent resident
- You must be at least 18 years old
- Your house must be your principal place of residence for
a continuous period of 6 months within the first year of owning
it
- You must be buying or building your own home
- The house must be in the same state or territory in which
the application is made
- You have never owned a property or received the grant before.
This includes your spouse or de facto if you are co-owners.
For the First Home Owner Boost, some additional criteria
applies:
- You must be buying or building a home for which the contract
was signed (or in the case of owner builders, where construction
commences) on or after 14 October, 2008 and before 1 July,
2009
- If you are building a new home (referred to as a "newly
constructed home"), the construction must commence within
6 months of signing the contract and must be completed within
18 months of commencement
- If you are buying a new home 'off the plan' (a "newly
constructed home"), the contract must specify a completion
date on or before 31 December 2010.
- If you are building a new home as an owner builder (a "newly
constructed home"), construction must be completed within
18 months of commencement.
How do I apply?
A Prosperity Mutual Home Loan Expert can process the grant
for you or you can apply through a solicitor.
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LOOKING FOR A BETTER
DEAL ?
Whether you are buying your first home or refinancing
Prosperity Mutual can help you save money on your home loan
and guide you from initial consultation stage all the way
through to settlement. Our company prides itself on providing
its customers with a personal service second to none. Services
operate in Sydney, Canberra and Melbourne.
CONTACT US
TODAY ON 1300 854 667
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