35,000 spots now available under the home guarantee scheme
The Victorian Government has introduced some changes to help first home owners get into a home sooner. When it comes to everything you need to know about the First Home Owners Grant (FHOG), we’re here to assist, by making the process smooth and simple. Plus, our partners at Resolve Finance are on hand to assess your position and provide the right finance solutions.
Spaces are limited, chat to us today to avoid missing out.
First Home Owners Grant, VIC*
Eligible home buyers in Melbourne, Victoria can now purchase a home with a deposit of as little as 5%* without paying Lenders Mortgage Insurance.
As of 1st July 2023, the Federal Government has opened up the eligibility to now include non-first home owners who haven’t owned a property in the last 10 years. Plus joint applications are now accepted, allowing you to apply with friends, siblings or other family members.
Please note: income and property value limits apply and may be subject to change. Limited to 35,000 spots, get in touch today to secure your spot.
Regional First Home Buyer Guarantee in Victoria*
If you are looking to become a home buyer in Regional Victoria, there has never been a better time.
Eligible Regional Victorian home buyers can now purchase a home with a deposit of as little as 5%* without paying Lenders Mortgage Insurance.
As of 1st July 2023, the Federal Government has also expanded the scheme to include non-first home owners who haven’t owned a property in the last 10 years. Joint applications are now accepted, allowing you to apply with friends, siblings or other family members.
Please note: income and property value limits apply and may be subject to change. Limited to 10,000 spots per year. Enquire today!
$10,000 First Home Owner Grant* (FHOG) in Victoria
A $10,000 First Home Owner Grant could be available when you buy or build your first new home in Melbourne, Victoria. Your first home can be a house, townhouse or apartment, must be valued at $750,000 or less and the home must be less than five years old.
Family Home Guarantee Scheme in Victoria*
Eligible single legal guardians with at least one dependent child can now purchase a home with a deposit of as little as 2%* without paying Lenders Mortgage Insurance.
As of 1st July 2023, the Family Home Guarantee is available to single natural or adoptive parents or legal guardians such as aunts, uncles or grandparents.
The applicant does not need to be a first home buyer, however income and property value limits apply. With limited spots, get in touch today to secure your spot, enquire now to speak with one of our New Homes Consultants.
First Home Super Saver Scheme*
The First Home Super Saver Scheme (FHSSS) helps Victorians to boost their savings for a first home by allowing them to build a deposit inside superannuation.
The maximum amount of voluntary is $50,000 (increased from $30,000), enabling first home owners to achieve their dreams of home ownership sooner.
Current eligibility criteria:
- 35,000 places available per year for new homes
- Income limits
- Single:$125k
- Joint: $200k
- Property price limit for Victorian purchases: $800k capital city & regional centres; $650K other-
- Expanded to non first home owners who haven’t owned a property in 10 years
- Friends, siblings and other family members are eligible for joint applications
- Permanent residents and Australian Citizens are eligible.
For more information on eligibility requirements, click here.
- Expanded from eligible single natural or adoptive parents with dependents to eligible borrowers who are single legal guardians such as aunts, uncles and grandparents.
- Eligible borrowers can buy a home with 2% deposit, without paying lenders’ mortgage insurance
- 5,000 places available per year until 30 June 2025.
- Single person income limits and property value limits apply, as per First Home Guarantee.Other income into ‘family’ must be limited
- Can not own a home currently
- Available to permanent residents and Australian Citizens.
For more information on eligibility requirements, click here.
- Be over 18 years of age
- Be an Australian Citizen or Permanent Resident
- Be planning to live in your home for the next six months
- Have never owned a residential property in Victoria or anywhere else in Australia
- Have never received the grant anywhere in Australia before
- Eligible customers can enter the market with 5% deposit, without paying lenders’ mortgage insurance
- 10,000 places available per year, until 30 June 2025
- Expanded to non first home owners, who haven’t owned a property in 10 years
- Permanent residents can apply, to encourage migrants to settle in regional areas
- Applicants must build a home or purchase a newly built home
- Friends, siblings and other family members are eligible for joint applications
- Same property price and income limits as First Home Guarantee apply
For more information on eligibility requirements, click here
Information on this page does not consider your personal needs and financial circumstances and you should consider whether it is appropriate for you. Eligibility is at the discretion of State and/or Federal Government. To find out more click here. Please note this is a guide only, this information may be revised for 2023/24. All Financial services provided by Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN: 65 079 545 378 Australian Credit Licence No. 385487.
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Find out if you're eligible
Together with our partners at Resolve Finance, we will guide you through the process