West Australian First Home Buyers may receive a grant of up to $2000 to cover the incidental expenses associated with buying their first home under the Home Buyer Assistance Scheme. The fund is a WA Government scheme that is administered by the Real Estate & Business Agents Supervisory Board (REBA).
Home Buyer Assistance Scheme Applications and Eligibility
Your local mortgage broker can help you determine your eligibility for the scheme, complete paperwork and even help find the right home loan for you. Simply call 13 LOAN (+61 2 9249 3739 direct) or fill in the form on this page and will contact you shortly.
Which expenses are covered?
For the purposes of the Home Buyer Assistance Scheme, incidental expenses include stamp duty on mortgages, valuation, registration and establishment fees.
The fees associated with the engagement of a settlement agent or solicitor can also be claimed. Postage, bank cheque fees, rates and taxes on the property, which are split between the purchaser and vendor at settlement, are NOT claimable.
Home Buyer Assistance Scheme Eligibility
To be eligible for the grant, you must meet all of the following criteria:
- you are buying your first home, which is established or partially built not vacant land, a plan or a “house and land” package;
- you must not own or previously have owned a home in Western Australia.
- If one of the people you are buying the home with owns or has owned a home in Western Australia before, then you can apply for a partial grant based on the percentage of your ownership of the home;
- you are going to live in the home for at least the first 12 months – you cannot rent out your home during this time; however if there is an existing tenancy agreement in place, you must live in the house for 12 months once the agreement has expired;
- you purchase the home through a licensed real estate agent;
- your application is lodged with the Registrar of REBA no more than 90 days after the date your offer to buy the home is accepted. Should the application be later than 90 days after the offer is accepted a letter is required which explains the reason for the application being lodged out of time;
- your home loan is financed through an authorised lending institution, such as a bank, building society or credit union; and
- the purchase price of the home is within the prescribed limit for dwellings purchased in Western Australia. The threshold figure changes from time to time, please talk to your local mortgage broker to find out the current threshold figure.
Western Australia Office of State Revenue
In WA, the first home buyers grant is fully funded and administered by the Western Australia Office of State Revenue. To contact the WA Office of State Revenue call 08 9262 1299.
