First Home Owners Grant (FHOG) VIC
The First Home Owners Grant (FHOG) in Victoria is a valuable government program designed to support eligible first home buyers in their journey to homeownership. With financial assistance of up to $10,000, the grant aims to alleviate the financial burden associated with purchasing a new home in Victoria.
Whether you’re an Australian citizen or a permanent resident, if you meet the eligibility criteria, the FHOG can be utilised to offset the purchase price, cover stamp duty expenses, or contribute to other costs involved in acquiring your first home.
It serves as a helpful initiative to make homeownership more accessible and achievable for individuals entering the property market in Victoria.
Eligibility Requirements for FHOG in VIC
To be eligible for the FHOG, you must meet the following requirements:
- Be an Australian citizen or permanent resident.
- Be buying your first home.
- Purchase a new home that is valued at $750,000 or less.
- Sign the contract of sale on or after 1 July 2013.
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How to apply for the FHOG VIC
To apply for the First Home Owners Grant (FHOG) in Victoria, follow these steps:
- Obtain the application form: Visit the website of the State Revenue Office of Victoria to download or access the FHOG application form. It should be available in a printable format or online submission option.
- Review the eligibility criteria: Familiarise yourself with the eligibility requirements for the FHOG in Victoria. Ensure that you meet the necessary criteria, such as being an Australian citizen or permanent resident, purchasing or building a new home, and meeting the property value limits.
- Complete the application form: Fill out the FHOG application form with accurate and up-to-date information. Provide details about your personal information, property details, and financial situation as required. Make sure to answer all the questions and sections of the form.
- Gather supporting documents: Collect the necessary supporting documents to verify your eligibility. These may include proof of identity, Australian citizenship or permanent residency, and evidence that you are a first home buyer. You may also need additional documents, such as the contract of sale or building contract.
- Attach supporting documents: Compile all the required supporting documents and attach them to your completed FHOG application form. Ensure that you provide certified copies of the documents, where necessary, and follow any specific instructions mentioned on the application form.
- Submit the application: Submit your completed application form along with the supporting documents to the State Revenue Office of Victoria. You can typically submit it through mail or via the online submission portal, if available. Double-check that you have included all the required documents before sending them.
- Follow up on the application: After submitting your application, keep track of its progress. You may want to retain a copy of your application form and supporting documents for your records. If you haven’t received any confirmation or communication within a reasonable time, consider contacting the State Revenue Office for an update on the status of your application.
What Documents Will I Require?
When applying for the First Home Owners Grant (FHOG) in Victoria, you will typically need to provide the following documents:
- Proof of identity: This can be a certified copy of your passport, driver’s licence, or birth certificate.
- Proof of residency: Provide documentation to establish your Australian citizenship or permanent residency status. This can include a copy of your citizenship certificate, residency visa, or other relevant documents.
- Proof of first home buyer status: You may need to provide evidence that you have not previously owned or received a FHOG for a property in Australia. This can be in the form of a statutory declaration or other documentation confirming your first home buyer status.
- Contract of sale or building contract: Include a copy of the contract of sale or building contract for the property you are purchasing or building. This document should outline the details of the property, purchase price, and relevant dates.
- Supporting financial documents: Depending on your circumstances, you may be required to provide additional financial documentation. This can include bank statements, loan pre-approval letters, or proof of savings to demonstrate your ability to finance the purchase.
Tips for Australian Expats
If you are an Australian expat, there are a few things you should keep in mind when applying for the FHOG:
- You must be physically present in Australia when you sign the contract of sale.
- You must have a valid Australian passport.
- You must have a permanent Australian visa.
What If I’m Considered a Non-Resident?
If you are considered a non-resident for the purpose of the First Home Owners Grant (FHOG) in Victoria, you may not be eligible for the grant. The FHOG in Victoria is typically available to Australian citizens or permanent residents who are purchasing or building their first home in the state.
Non-residents, such as temporary visa holders or individuals without Australian citizenship or permanent residency, may not meet the eligibility criteria for the FHOG in Victoria. However, it’s important to review the specific guidelines and requirements set by the State Revenue Office of Victoria to confirm your eligibility or any potential exemptions that may apply.
If you are a non-resident at the time of your property purchase but later become an Australian citizen or permanent resident, you may be eligible to apply for the FHOG once you meet the necessary residency criteria. In such cases, you would typically apply for the FHOG after your residency status has changed and you meet all the other eligibility requirements.
Consult an Expat Mortgage Broker
If you are considering applying for the First Home Owners Grant (FHOG) in Victoria, it’s an excellent opportunity to save money on your first home purchase. Ensure that you meet the eligibility criteria and gather all the necessary documents to support your application.
To navigate the FHOG application process smoothly and maximise your chances of success, it’s advisable to speak with our home loan experts. They can provide personalised guidance, assist you with the application process, and help you explore other available grants or incentives.
Contact our expat mortgage brokers today to make the most of the FHOG and achieve your dream of owning a home in Victoria.
Get a free Australian mortgage assessment today.
Frequently asked questions
What if I already own a home?
If you already own a home, unfortunately, you are not eligible for the First Home Owners Grant (FHOG) in Victoria. The FHOG is specifically designed to assist eligible first home buyers in purchasing their first property.
However, if you are looking for government assistance or support in your home ownership journey, you may consider exploring other programs or initiatives available in Victoria. One such program is the First Home Loan Deposit Scheme (FHLDS), which is aimed at helping eligible first home buyers secure a home loan with a smaller deposit, thus potentially making it easier to enter the property market.
The FHLDS operates through participating lenders, and it allows eligible first home buyers to purchase a home with a deposit as low as 5% without needing to pay for lender’s mortgage insurance. This scheme can be beneficial for those who have already owned a property in the past but are still looking to purchase another home.
Feel free to speak with one of our expat mortgage brokers to find the right option for your home loan needs.
What if I am buying a property with my partner?
If you are buying a property with your partner, you can both apply for the FHOG. However, you will only be eligible for one grant each.
What if I am buying a property that is worth more than $750,000?
If you are buying a property in Victoria that exceeds the value threshold of $750,000, you may still be eligible for a partial First Home Owners Grant (FHOG). While the full grant amount is typically available for properties below this threshold, the grant is reduced for properties above it.
The exact reduction amount will depend on the value of the property. For example, if you are purchasing a property valued at $800,000, you may still be eligible for a partial grant. The reduction will be calculated based on a sliding scale or formula specified by the State Revenue Office of Victoria.
Where can I get more information about the FHOG?
You can find more information about the FHOG on the website of the State Revenue Office of Victoria.
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