It’s important to note, each Government scheme will be subject to limitations and eligibility criteria that may change – so it’s best to do your own research when applying.
This page provides information about schemes that are available in Victoria. If you’re interested in schemes offered by People’s Choice for another state, or national schemes, you can visit our dedicated pages by clicking below.
Victoria First Home Owner Grant (FHOG)
The First Home Owner Grant (FHOG) is a cash grant designed to help people who have never owned property buy their first home. Every state and territory offers their own version of the FHOG.
People’s Choice is an Approved Agent for the First Home Owner Grant (FHOG) in Victoria, which gives eligible first home buyers a grant of up to $10,000.
You may be eligible for this if you are buying a new home that has not been previously sold as a place of residence, occupied as a home, or leased out or used for short-term accommodation.
There are a number of additional criteria including the value of the property, which can be found on Victoria’s State Revenue Office website.
If you’re interested in applying for this grant, please use our enquiry form and our friendly team will be in touch to discuss your options.
National first home buyer schemes
People’s Choice is a participating lender offering the Home Guarantee Scheme (HGS), which is an Australian Government initiative to support eligible home buyers to buy a home sooner. The Scheme is administered by Housing Australia.
The Home Guarantee Scheme includes:
- First Home Guarantee (FHBG) – for eligible home buyers
- Regional First Home Buyer Guarantee (RFHBG) – for eligible regional home buyers
- Family Home Guarantee (FHG) - for eligible single parents and eligible single legal guardians of at least one dependent
First Home Guarantee (FHBG)
The purpose of the First Home Guarantee is to support eligible home buyers to enter the housing market sooner. It does this by allowing Housing Australia to issue 35,000 guarantees each financial year for eligible loans to home buyers with a deposit of between 5 and 20% of the property value.
Please visit our dedicated page for more details about all of the HGS Guarantees and visit the Housing Australia website for more information and eligibility criteria.
Here is an example of how the First Home Guarantee and Victoria First Home Owner Grant could benefit you.
A step-by-step example of what to expect
Step 1
Reach out to a People’s Choice Home Loan Adviser to enquire about any grants or schemes you may be eligible for and where you can find more information about what’s available.Step 2
Your Home Loan Adviser will determine your eligibility for the various schemes or grants available and advise what you will need to provide to confirm eligibility.Step 3
If you are eligible, your Home Loan Adviser will reserve your place for the scheme and/or grant and issue your pre-approval (provided application and lending criteria are met). They will also provide you with timing requirements, specific dates, and depending on the grant or scheme, type of property you can purchase.Step 4
House hunting! Before you enter into a home loan agreement, you should consider talking with your People’s Choice Home Loan Adviser about the potential implications of changing interest rates or house prices on your individual circumstances that might have changed since gaining pre-approval.Step 5
Once you’ve found your property, your Home Loan Adviser will obtain formal approval and finalise any paperwork and checks for your home loan which includes the schemes and grants you are eligible for.Step 6
Settlement, congratulations! You are now a homeowner! Your Home Loan Adviser will provide you with additional information you may need to know now your home loan has settled.