Terms And Conditions For Getting First Home Buyers Grant

First home buyers have an opportunity to get monetary help from the government and

one should take advantage of this facility, if one fulfills the terms and conditions for the First Home Owners Grant (FHOG). The grant is available for buying residential property of a certain type. High-end properties are excluded from the grant. Also the grant is not available, if you are considering using the home as a rental property.

People living on 457 visa are not eligible for the grant but a non-resident married to a permanent citizen can apply for the grant. The applicant shouldnt own a property. In case of married people, the couple shouldnt own any property either jointly or individually. The grant is a help for people, who are trying hard to buy a house. The government wants to make sure that only the person in need gets the grant.

One buying a high-end property is ineligible for the grant because the person is capable of investing in a prime property. But one looking for a budget home certainly needs help and he should get help. The government pays $7,000 in grant and the money varies from state to state. The amount of FHOG you would get depends upon many factors like the price of the property, type of property and the state, where you are buying property.

FHOG is a real help for real estate investors with limited budget. If you are buying a property and this is the first time that you are making real estate investment then dont lose the opportunity to get the first home buyers grant. The grant money could be used for making upfront payment to the seller, brokerage, paying stamp duty or in any other expense related to the real estate investment.

Together with a low interest property loan and first home buyers grant, you can buy your dream property. An experienced mortgage broker can help you get the grant. Though you can apply for the grant on your own but taking help is more beneficial as the broker would make sure that your application is processed as soon as possible.

There are many applicants for first home buyers grant as everyone wants to take advantage of the monetary help. It is free money and it is your money. You need not worry about repaying the grant money. Contact a reliable mortgage broker to know about the FHOG and the process of receiving the grant.

by: Larson Flint

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