The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation.

Under the scheme, a one-off grant of up to $7000 is payable to first home owners that satisfy all the eligibility criteria.

Presently many first home buyers are eligible for large reductions in the stamp duty normally payable when purchasing property in NSW as well as the opportunity of applying for the First Home Owner Grant from the Australian Commonwealth Government. These two factors alone could assist you in getting a first home buyer loan with little or no deposit! Contact Ability Finance now to find out more.

Many guides are available on the internet for first home buyers. Ability Finance have basic information on what is involved in purchasing a residential property. Visit our residential property buying guide here.

Most lenders have calculators on their websites that will provide a general guide as to what the repayments will be on different loan amounts and terms. An Ability Finance consultant is able to assist you on a individual basis by assessing your specific situation. Contact us now for a no cost personal consultation.

Ability Finance will be able to discuss your requirements and compare the options available to you. As a specialist, professional mortgage broker we will prepare and submit any loan application on your behalf and keep you informed as to the progress of your application at every step of the way, all at no extra cost to you.