First Home Grant Calculator – Sunrise Finance

First Home Buyers Grant and First Home Owner Grant Calculator

Use this calculator to find out how much you can benefit from government grants and schemes for first-home buyers.

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Updated: 07 Dec, 2024

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First Home Owner Grant Calculator

State or Territory

Property Value ($)

Is this a new home?

Results

Grant Amount: $0

Eligibility: Not Eligible

Disclaimer: The above results are based on the general FHOG rules for each state. Please verify with your state’s official authority and consult a financial advisor.

What Is The First Home Owner Grant (FHOG)?

The First Home Owner Grant (FHOG) is a one-off benefit for first-home buyers. It is a nationwide scheme funded and administered by the states and territories of Australia.

The grant is given to first-home buyers who purchase property in Australia, if they meet all the eligibility criteria.

Who Is Eligible For The First Home Owner Grant?

The eligibility criteria for the FHOG in Australia vary slightly by state and territory, but there are common requirements that applicants must meet.

Applicants are first-home buyers who have not owned property anywhere in Australia.

Must be at least 18 years old.

At least one applicant must be an Australian citizen or permanent resident. New Zealand citizens with special category visas may also qualify.

The grant is available for the purchase of a new home, a substantially renovated home, or an off-the-plan property. Established homes typically do not qualify unless they have been significantly renovated.

Applicants must occupy the home as their principal place of residence for at least 12 months, beginning within 12 months of settlement or completion of construction.

Applying For the FHOG

Check your eligibility using our calculator.

Then, you can apply through an approved agent (lender or mortgage broker) or directly with the relevant state or territory revenue office.

If you want expert guidance, the mortgage specialists at Sunrise Finance WA can help. Our team of experts will guide you throughout.

To avoid processing delays, ensure you have the following documents ready when applying for the grant.

Required Documents

Valid identification, like a driver’s licence or passport for all applicants

A declaration or form confirming that the applicants have not previously owned residential property in Australia.

Evidence that at least one applicant will occupy the home as their principal place of residence, such as a utility bill or lease agreement.

A copy of the Contract of Sale for the property being purchased.

If applicable, documentation related to substantial renovations if claiming for a renovated home.

Completed application forms specific to the state or territory’s FHOG program, which may require additional declarations regarding property value and eligibility criteria.

As the documents required will vary by state or territory, it’s best to check with the respective revenue office for any specific requirements or additional necessary documentation.

Need Help with Your First Home Owner Grant?

We’re here to make your First Home Owner Grant application stress-free! We will assist you in completing the form, gathering the correct supporting documents, and following up to ensure your grant is approved and paid promptly.

FAQs

Can The First Home Owner Grant Be Used As A Deposit?

Yes, the grant will be a part of your deposit for your first home.

Typically, most lenders require a deposit of at least 5% of the property price. The grant amount on its own might not be sufficient, in which case you will require existing savings for a deposit on your first home.

If you have not saved enough deposit, a guarantor home loan is the best option. Other low-deposit and no-deposit home loan options are available for first-home buyers.

Can I Get The First Home Owner Grant For An Existing Home?

No, you cannot get the First Home Owner Grant for buying an existing home. It is specifically designed for new homes or those that have gone through substantial renovations.

What Grants And Schemes Are Available For First-Home Buyers In Australia?

The grants and schemes available for first-home buyers in Australia are:

The Home Guarantee Scheme, First Home Super Saver Scheme (FHSSS) and Help to Buy are nationwide schemes available for most first-home buyers in Australia.

Many states offer discounts or exemptions on stamp duty for first-home buyers, which can reduce upfront costs.

Can First Home Buyers Get Stamp Duty Exemptions?

Yes, first-home buyers who are eligible for FHOG could get a stamp duty exemption or concession depending on their location and the value of the property.

You can check if you’re eligible for a stamp duty exemption or concession using our stamp duty calculator.

Can First-Home Buyers Avoid LMI?

Yes, if they borrow no more than 80% of the property value.

If you need to borrow more than 80% of the property value and want to avoid LMI, getting a guarantor loan is a good option.

Still need answers? We're here to help!

Our team of mortgage experts will assist you within 24 hours.

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