First Home Owners Grant

  • For first home buyers
  • Extra state bonus available
  • Used as part of your deposit
  • Act now
  • We will coordinate for you

The First Home Owners Grant (FHOG) is a once-off tax-free payment to anyone buying their first home in Australia. It is funded by each State & Territory Government.

Eligible applicants are entitled to the payment of a grant provided that certain extra eligibility criteria are met. 

How do I qualify?

  • You must be an Australian citizen or permanent resident buying or building your first home in Australia
  • The property you buy must be a recognised house, unit or flat for the purpose of owner occupation (not a rental property) 
  • You or your partner must not have purchased in Australia before
  • You must occupy the home within 12 months of settlement or within 12 months of building completion if it's a newly built home
  • You must apply for the grant within 12 months of settlement or building completion

As part of various state budgets grants, other incentives may be available to you depending on which state you are purchasing your home.

To get further information about grants available in your state consult the following state of territory government agency website, or Contact your Time Finance specialist:

Using the FHOG as a deposit

If you qualify for the FHOG or HCG, mortgage lenders will consider it as part of your savings and contribute it toward the deposit amount on the purchase of a property.

How do I apply for the grant?

Your Time Finance Mortgage Broker can assist you in completing the relevant forms as part of the home loan application therefore ensuring the funds will be available at settlement or in your first progress payment if building a home. In most cases mortgage lenders are able to act as agents for the corresponding Government Agency in your state.

If you apply directly to the Government Agency the funds will not be available until after settlement or completion of the home if you are building.

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Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).


Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases


Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.


Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article


It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.


This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.


The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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