Assisstance Buying a Home in Australia

Link to Aus Gov Schemes

Government Schemes to Help Australians Buy a Home

First Home Buyers

5% Deposit Scheme

No LIM Insurance

Single/Legal Parents Home Buyers

2% Deposit Scheme

No LMI Insurance

Aboriginal Home Buyers

Low deposit & No LMI on IBA home loans NSW grants available AHO.

Links to Government Schemes

Australia Wide (Federal)

NEW SOUTH WALES

6) NSW First Home Buyers Assistance Scheme (stamp duty transfer duty relief)

https://www.revenue.nsw.gov.au/grants-schemes/assistance-scheme

Eligible first home buyers in NSW may receive a full exemption or concessional (reduced) transfer duty on eligible purchases.

7) NSW First Home Owner (New Homes) Grant (FHOG)

https://www.revenue.nsw.gov.au/grants-schemes/first-home-owner-new-homes-grant

A $10,000 grant may be available for eligible first home buyers purchasing or building a new (or substantially renovated) home in NSW (not established homes).

8) Aboriginal Housing Office (AHO) NSW – Home Ownership Grants (one-off financial grants)

https://aho.nsw.gov.au/grants/for-individuals/home-ownership.html

Eligible Aboriginal people in NSW can apply for one-off financial grants toward home ownership. The page includes eligibility and how to apply (email to request the application form.

1) First Home Buyers hub (overview of key schemes)

https://firsthomebuyers.gov.au/

Info hub covering the Australian Government 5% Deposit Scheme, Help to Buy, and the First Home Super Saver Scheme.

2) Australian Government 5% Deposit Scheme (first home buyers + single parents)

https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme

Eligible first home buyers may be able to buy with a minimum 5% deposit (and eligible single parents/legal guardians with a minimum 2% deposit), through participating lenders, and avoid Lenders Mortgage Insurance (LMI).

Single parents eligibility page:

https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme/single-parents

Eligibility checker:

https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme/5-percent-tools-and-resources/5-percent-eligibility

3) Help to Buy (shared equity, Federal Government)

https://firsthomebuyers.gov.au/australian-government-help-buy-scheme

Help to Buy is a shared equity scheme where the Government contributes up to 30% (existing homes) or 40% (new homes). You need a minimum 2% deposit and a participating lender home loan.

Housing Australia update (applications now open):

https://www.housingaustralia.gov.au/media/applications-now-open-australian-government-help-buy-scheme

4) First Home Super Saver Scheme (FHSSS) – Australian Taxation Office (ATO)

https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/early-access-to-super/first-home-super-saver-scheme

The FHSSS lets eligible first home buyers make voluntary contributions into super and later withdraw eligible amounts to help with a home deposit.

FIRST NATIONS HOME BUYING SUPPORT

5) Indigenous Business Australia (IBA) home ownership

https://www.iba.gov.au/home-ownership/

IBA offers home ownership support and lending for eligible Aboriginal and Torres Strait Islander people (including information on how to apply and home loan features).

National overview (NIAA):

https://www.niaa.gov.au/our-work/environment-and-land/indigenous-business-australia-and-home-ownership