No the grant is applied to the building costs however you could obtain a deposit bond to pay for the full deposit.
First Home Owners Grant – If you are constructing a new dwelling and the combined cost of land and dwelling is no more than 750,000 you will receive a 10,000 grant from the government which goes towards the construction.
STAMP Duty Exemption – If you purchase land up to 400,000 you will pay no stamp duty.
If you purchase an established home and it’s your first home up to 650K you will also pay no stamp duty and the stamp duty will increase incrementally up to 800K where it will cap out to the maximum fee.
First home deposit scheme allows you to borrow up to 95% of the purchase price without having to pay Lenders Mortgage insurance. Read more
Purchase a s an investment first to maximise borrowing capacity and rent out for a period of time so that the balance of loan can be substantially reduced while living with parents.
Family Pledge or security guarantee will assist in allowing you to in certain circumstances, purchase a home at 100% plus costs with now or very little deposit cash.
Build up to 750K to gain the 10K FHOG plus the stamp duty exemption AND also taking advantage of 95% borrowing without paying any LMI
We have a proven record of getting First Home Owners into their first home because we understand the lender policies which allow purchasers to borrow what they need to buy their first home.
We understand policies which will gain applicants an advantage such as family pledge guarantees, First Home deposit schemes, First Home owner grants, stamp duty exemptions etc with a broker who is dedicated specifically to first home purchasers.
Book an appointment with one of our mortgage brokers to discuss your options to buying your first home.