| Grant / Scheme | Details | Value |
|---|---|---|
| First Home Guarantee and Family Home Guarantee Scheme | > Eligible buyers can purchase with a 5% deposit (lenders criteria apply). > Eligible single parents can buy a house with a 2% deposit. > No lenders mortgage insurance (LMI) needed. > Up to 40,000 guaranteed loans per financial year (both schemes combined). > Property value must not exceed $600,000 for Perth and regional centres. > Property value must not exceed $450,000 for the rest of the state. | Insurance savings depend on the value of your property. |
| First Home Super Saver Scheme | > You can withdraw up to $15,000 per financial year, up to a total of $50,000 across multiple years for payment towards your home loan. | Lower cash deposit required to buy. |
| Home Buyers Assistance Reimburse some costs associated with the purchase of your first home including mortgage registration fees, solicitor and/or conveyancing fees, valuation fees, inspection fees, mortgage insurance premiums and lender fees. | > Property value ≤ $400,000 | ≤ $2,000 |
| Keystart | > A low deposit loan for those who don’t meet the requirements of mainstream lenders. > Can buy a house with a deposit between 2% and 10% (subject to property location). > No LMI needed. > Must meet income limits (subject to property location). > Property value ≤$650,000$ (subject to property location) > Shared equity schemes available. | Insurance savings depend on property value. |
| First Home Owner Grant | > For new homes only. > South of 26th parallel: land and building value ≤$750,000. > North of 26th parallel: land and building value ≤$1,000,000. | $10,000 |
| Stamp Duty Exemptions | > Vacant land purchase to the value of ≤ $300,000 = pay no stamp duty, $300,000-$400,000 = reduced stamp duty. > House purchase to the value of ≤ $450,000 = pay no stamp duty, $450,000 – $600,000 = reduced stamp duty. | Tax savings depend on the value of your property. |
| Total grants/discounts available ($) | Scheme eligibility may be subject to income caps, property value & other criteria. | ≤ $12,000 + tax and insurance savings. |
How much deposit do you need?
If you qualify for the First Home Guarantee (FHBG) Scheme you could buy for as little as 5% deposit. That’s only $25,000 for a $500,000 home, or $40,000 for a $800,000 home!
This is a paid partnership with Nectar Mortgages PTY LTD (credit representative 446035) who is a Credit Representative of QED Credit Services PTY LTD (Australian Credit Licence number 387856). All enquiries are sent directly to Nectar and handled by their team of brokers. NZRelo cannot be held liable for your enquiry and the steps you take after submission. All loans are subject to suitability, lender policy, terms & conditions. Rates available at the time of publishing 06/06/2024.
Your entitlements are subject to your personal circumstances and eligibility is at the discretion of the relevant agencies in your state.
