If you haven’t bought your first home yet, it may be time to call a mortgage broker at Smartline Rockingham. We have helped hundreds of Australians buy homes in the Rockingham, Baldivis, Kwinana and the surrounding area.

Not only are interest rates low, but the Government has plenty of incentives for you to purchase a new home. These are the result of three programs: First Home Owner Grant (FHOG), First Home Owner Rate of Duty (FHOR) and the Home Buyers Assistance Account (HBAA).

First Home Owner Grant

The FHOG provides $10,000 for a first home buyer who builds a new home. If your home and land together cost less than $750,000 below the 26th parallel or $1 million above the 26th parallel, you will receive a $10,000 grant.

First Home Owner Rate of Duty

The FHOR is huge. There is no way around it, especially in Rockingham, Baldivis, Kwinana, Cockburn and Mandurah, where you can find plenty of property which falls within the limits. If you purchase a new home that is already built and doesn’t exceed $530,000, you are eligible for the FHOR. If your home costs $430,000 or less, you don’t have to pay any stamp duty. If it costs between $430,000 and $530,000, you pay a duty of $19.19 for every $100 over $430,000.

If you are buying vacant land and building, the land must cost $400,000 or less. If it costs $300,000 or less, you don’t pay any stamp duty. If it costs between $300,000 and $400,000, you pay a duty of $13.01 for every $100 over $300,000. The great part: you don’t have to pay any duty on the building. In addition, you get to depreciate the building for your taxes.

Home Buyers Assistance Account

If you are eligible for FHOG, you are eligible for HBAA. This provides $2,000 for “incidental expenses.”

Call Smartline Rockingham Today

To learn more or to see if you can qualify for a home loan, call Smartline Rockingham today: (08) 9527 1800.