| The Australian federal government
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| | fit. For example, you may use it to
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| introduced the First Home Owner Grant
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| | offset stamp duty or insurance, real
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| (FHOG) in 2000 to compensate for the GST
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| | estate agent fees or other
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| (goods and services tax) and to make
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| | mortgage-related costs, such as points or
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| buying a home easier for all Australians.
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| | application fees.The Grant is
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| Since that time, this popular grant has
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| | administered by each state or territorial
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| helped people in every state to buy their
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| | government. Most first-time buyers will
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| first home. As a result of this grant, as
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| | qualify for the grant; specific
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| well as other economic factors,
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| | requirements are available online on the
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| homeownership in Australia is now at an
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| | FHOG website ( Qualifications are very
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| all-time high.Depending on your lender,
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| | similar, regardless of your state. You
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| you may be able to use the $7,000 grant
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| | must be a citizen or permanent resident
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| as part of your down payment. Not all
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| | of Australia, and you must be a natural
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| lenders will allow it to be used in this
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| | person--in other words, not a
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| way however, so if that is your intent,
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| | corporation. Also, each applicant and
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| take the time to shop around and compare
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| | applicant's spouse must not own, or have
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| lenders. The mortgage market is highly
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| | owned property in Australia in the past,
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| competitive, and more lenders are
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| | even if it is property that is held with
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| starting to allow the grant to be used as
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| | another individual. None of the
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| down payment.There may be circumstances
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| | applicants may have received the Grant
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| where you may prefer to stay with a
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| | previously. The Grant is meant for
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| certain lender, even if that lender does
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| | owner-occupants. Applicants must be
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| not allow the funds to be used as down
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| | buying the property for living in, and be
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| payment; for example, if the lender
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| | prepared to occupy it within a year of
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| offers the most attractive interest rate,
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| | purchase.The Grant is not means-tested
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| or lower fees than other lenders. Buyers
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| | and is therefore available to all
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| must balance the cash they have available
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| | applicants regardless of income category.
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| for down payment against these other
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| | The grant is not taxable. In addition to
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| factors that may make the loan less
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| | the Grant, you may also be eligible for
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| costly overall. Even if you do not use it
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| | exemption from conveyance duty, depending
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| as a down payment though, there are many
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| | on your state.Copyright 2006 Tracey
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| other practical uses for the Grant. The
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| | AndersonTracey Anderson is a mortgage
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| process of purchasing a home entails many
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| | broker specialising in helping Australian
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| expenses. The Grant may be used to offset
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| | homebuyers find the right mortgage.
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| any of these expenses as the buyer sees
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