What first home buyer incentives am I eligible for?

If you're a first home buyer, there are some great Government-funded grants, schemes and incentives that can help boost your deposit, avoid taxes and fees, as well as use your super to boost your deposit. We've outlined some of these programs to help show how each could help you get into your own place sooner.

Each program has its own criteria and conditions, so always do plenty of research on each one before factoring them into your budget. When in doubt, you can always chat with our team for more personalised information on your own eligibility.

Here are some general criteria you'll need to meet if you're interested in any incentives. While they vary by state and territory, you'll generally need to meet these criteria below to be eligible for most.
  • You must be an adult, aged 18 years and over.
  • Any grants you're paid may only be put towards a home which you will live in.
  • You must be an Australian citizen. Permanent residents may be eligible for some programs. New Zealand citizens permanently residing in Australia who hold Special Category Visas may also be eligible for some programs. In some cases, only one applicant must meet this eligibility requirement. 

Regional First Home Buyer Guarantee (RFHBG)

The Regional First Home Buyer Guarantee (RFHBG) is another guarantee that helps eligible buyers avoid paying Lenders' Mortgage Insurance (LMI). If you meet the eligibility criteria, you will be able to buy a modest home in a regional area with as little as 5% deposit, without paying LMI. 

People’s Choice is a participating lender offering the RFHBG. For more information and to register your interest, please visit our dedicated page or speak with our Home Loan Specialists to discuss the options available to you.