As a First Home Buyer, you may be eligible to apply for a grant of up to $2,000.00 to assist with the expenses of buying your first home. This grant is not The First Home Owners Grant.
What is the Home Buyers Assistance Account?
A grant of up to $2 000, for the incidental expenses of first home buyers, when applying for a home loan to purchase an established or partially built home.
How do I know if I am eligible?
- The purchase price of the home must be $400,000 or less;
- You must be buying your first home, which is established or partially built (not vacant land or a ‘house and land’ package);
- You or your spouse or partner must not own or have owned any property in the State of Western Australia before;
- You must live in the home for at least the first 12 months;
- You must purchase the home through a licensed real estate agent;
- The application must be lodged with the Department of Commerce no more than 90 days after the date that the offer and acceptance contract to buy the home is accepted (in exceptional circumstances, a short extension of time for lodgement may be granted if reasonable grounds exist);
- The home loan must be financed through a lending institution (such as a bank, building society or credit union)
- Your Finance Broker can advise if you are eligible
How do I apply for the Grant?
You must complete the application form and follow the instructions on the form.
If you have any further queries, your Finance Broker, can help you with completion of the form.
What happens next?
It can take up to 8 weeks to process an application from the date all the required information is received.
If approved, a cheque is then forwarded to your lender and then normally deposited to your home loan account.
For further information on this, or any other matter relating to a home loan in Mandurah, call us NOW on (08)9535-2444 or visit our website – http://home-loans-mandurah.com.au to keep in touche with the latest news – find our home loans page on Facebook