NSW Government Grants - The Gardens Medowie NSW

FIRST HOME BUYER ASSISTANCE SCHEME

If you’re a first home buyer, you may be entitled to a concessional rate of transfer duty or even an exemption from paying it altogether under the First Home Buyers Assistance scheme (FHBAS).

ELIGIBILITY: the grant is available for:

buying an existing home
buying a new home and
vacant land on which you intend to build a home.

FIRST HOME OWNER GRANT (NEW HOMES) SCHEME

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.

If you purchase vacant land and sign a building contract with a builder then we add the value of the vacant land plus the value of the comprehensive home building contract plus the cost of any building variations done together. The total combined cost must not exceed $750,000.

ELIGIBILITY: the grant is available for:

contract to buy a new home
building contract by the owner of the land
owner of the land building their own home.

FAMILY HOME GUARANTEE SCHEME

The Family Home Guarantee (FHG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible single parents or eligible single legal guardians of at least one dependent to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.

The FHG aims to support eligible single parents or eligible single legal guardians of at least one dependent to buy a home, whether that single parent or single legal guardian is a first home buyer or a previous homeowner. From 1 July 2023 – 30 June 2024, 5,000 FHG places are available.

Under the FHG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to purchase a home with as little as 2% deposit without paying Lenders Mortgage Insurance.

For the FHG, any Guarantee of a home loan is for up to a maximum amount of 18% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan.

ELIGIBILITY: To access the Family Home Guarantee, purchasers must meet the following eligibility checks:

applying as an individual
a single parent or single legal guardian of at least one dependent
an Australian citizen or permanent resident* at the time they enter the loan 
at least 18 years of age 
earning no more than $125,000 per year 
intending to be the owner-occupier of the purchased property

NOT currently owning property, or upon settlement of the guaranteed property they’re buying, not intending to own a separate property.

FIRST HOME GUARANTEE SCHEME

The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.

Under the FHBG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to buy a home with as little as 5% deposit without paying Lenders Mortgage Insurance.

For the FHBG, any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.

From 1 July 2023 – 30 June 2024, 35,000 FHBG places are available.

ELIGIBILITY: To access the First Home Guarantee, purchasers must meet the following eligibility checks:

applying as an individual or 2 joint applicant
an Australian citizen(s) or permanent resident(s)* at the time they enter the loan
at least 18 years of age
earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
intending to be owner-occupiers of the purchased property
First home buyers or previous homeowners who haven’t owned a property in Australia in the past ten years.

REGIONAL FIRST HOME BUYER GUARANTEE SCHEME

The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia on behalf of the Australian Government.

The RFHBG aims to support eligible regional home buyers to buy a home sooner, in a regional area. From 1 July 2023 – 30 June 2024, 10,000 RFHBG places are available.

Under the RFHBG, part of an eligible regional home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.

For the RFHBG, any Guarantee of a home loan is for up to a maximum amount of 15% of the value of the property (as assessed by the Participating Lender). This Guarantee is not a cash payment or a deposit for a home loan. Eligibility criteria apply.