Are you a first home buyer in Queensland looking to purchase your first home? If so, you may be eligible for the First Home Owners Grant (FHOG) in Queensland. The FHOG is a one-off payment of up to $15,000 to help you purchase your first home.
In this blog post, we’ll discuss the specifics of the First Home Owners Grant in Queensland and how much you can receive. We’ll also provide helpful advice on how to apply for the grant and what other assistance you may be eligible for.
What is the First Home Owners Grant in Queensland?
The First Home Owners Grant (FHOG) is a one-off payment of up to $15,000 to help first home buyers purchase their first home in Queensland. The grant is available to both new and established homes, and is paid directly to the home buyer.
The FHOG is available to first home buyers who meet certain eligibility criteria. These include:
• You must be an Australian citizen or permanent resident
• You must be over 18 years of age
• You must be purchasing a home in Queensland
• You must be the owner-occupier of the home
• You must not have previously owned a home in Australia
• You must not have received a FHOG before
• You must not have received any other government assistance for the purchase of the home
How Much First Home Owners Grant QLD?
The amount of the FHOG in Queensland is up to $15,000. This amount is based on the purchase price of the home. The grant is paid directly to the home buyer and is not required to be repaid.
If you are purchasing a new home, the FHOG is calculated as follows:
• Up to $750,000 – $15,000
• $750,001 to $1,000,000 – $10,000
• $1,000,001 to $1,500,000 – $5,000
If you are purchasing an established home, the FHOG is calculated as follows:
• Up to $550,000 – $15,000
• $550,001 to $750,000 – $10,000
• $750,001 to $1,000,000 – $5,000
How to Apply for the First Home Owners Grant in Queensland
To apply for the FHOG in Queensland, you must complete an application form and submit it to the Office of State Revenue. You must also provide evidence of your eligibility, such as proof of identity and proof of purchase.
You must also provide evidence of your financial situation, such as bank statements and income tax returns. You must also provide evidence of your home loan, such as a loan approval letter.
Once your application has been approved, the grant will be paid directly to you.
Other Assistance for First Home Buyers in Queensland
In addition to the FHOG, there are other forms of assistance available to first home buyers in Queensland. These include:
• The First Home Loan Deposit Scheme – This scheme provides eligible first home buyers with a guarantee from the National Housing Finance and Investment Corporation (NHFIC) to help them purchase a home with a deposit of as little as 5%.
• The First Home Super Saver Scheme – This scheme allows eligible first home buyers to make voluntary contributions to their superannuation to save for a deposit.
• The First Home Owner Discount – This discount provides eligible first home buyers with a discount on stamp duty when purchasing a home.
At The Home Loan Partners, we understand that buying a home can be a daunting process. That’s why we’re here to help. Our team of experienced mortgage brokers can provide you with expert advice and assistance to help you find the right home loan for your needs. We can also help you to understand the various grants and assistance available to first home buyers in Queensland.
If you have any questions about the First Home Owners Grant in Queensland or any other home loan related questions, please don’t hesitate to get in touch. Our team would be more than happy to answer any questions you have and help you to get a home loan.