ACT First Home Buyers Grant Summary
Are you confused about what grant(s) you can receive as a first home buyer in the ACT? We have developed a quick summary below. Grants change regularly, so it is always a good idea to review the state government’s website to confirm your eligibility or simply contact us.
At Mortgage Choice Sydney, our goal is to educate and make the process as easy as possible. When is the last time you purchased property? It is important that you deal with industry professionals throughout the entire process. If you’re ready to buy your first home or just doing a bit of research, it’s important to understand what Government support is available when it comes to grants and incentives and how much you could save!
Applying for the First Home Owner Grant is easy, and we can guide you through the paperwork.
Essentially, there are 3 main grants;
ACT First Home Buyers Stamp Duty Discounts
- No limit on the purchase price
- To be eligible, first homeowners in the ACT must have a household income below $170,000. This number increases up to $186,650 depending on the number of children you may have. Check out the thresholds here!
Australian Government First Home Loan Deposit Scheme
- Allows you to take out a mortgage with just a 2-5% deposit and avoid paying lender’s mortgage insurance (LMI).
- Further details here
Australian Government First Home Super Saver Scheme
- Allows you to access up to a total of $50,000 contributions of your voluntary concessional (before-tax) and voluntary non-concessional (after-tax) contributions into your super fund to save for your first home.
- Further details here
Still confused? Why not book an appointment with us today to discuss your individual circumstances? What have you got to lose!?
