Browse Forums Building A New House 1 Apr 04, 2013 6:50 am Hi everyone, Just a quick question about the first home owners grant in Victoria..........when can I actually apply for this and receive it? My fiance and I are building our first home which was off the plan. The contract is in two parts - the land settled a while ago and we will be signing the building contract this Sunday. We have finance for the land already and are paying it off, although we are still yet to get finance for the construction. I just want to know if I can apply for the grant after we sign the building contract? Or do we have to wait until the house is built? The money would be really handy for our upcoming wedding! Thanks:) Re: First Home Owners Grant - VIC 2Apr 04, 2013 6:56 am Not sure if Vic is different to NSW but the grant goes to your builder so probably won't be able to be used for your wedding. In NSW it is payable after slab is done. Not sure of other states but I'd assume they are all relatively similar. 2 Re: First Home Owners Grant - VIC 3Apr 04, 2013 9:10 am If I am not mistaken, the grant will go through your bank which will straight away contribute to your build. You can apply the grant once the building contract is signed.. Re: First Home Owners Grant - VIC 4Apr 04, 2013 10:27 am On the SRO site it says if you apply through them directly it can be paid into a nominated bank account however it just says 'after settlement', which is a bit vague. http://www.sro.vic.gov.au/sro/SROnav.ns ... 10931?open Re: First Home Owners Grant - VIC 5Apr 04, 2013 11:17 am Most banks will apply for you to the SRO and the money get paid directly off your mortgage so you never actually get the cash in your hot little hand. This is because most people elect to use the FHOG as part of their deposit (the 20% contribution you have to make to avoid having to obtain mortgage insurance). When I got my grant back in 2010 it was applied for when I signed the contracts for land purchase and house construction (I think) and the slab of the house had to be laid within 3 months of the grant being made. My land took forever to Title so I had to seek an extension which was easy enough to do. Speak to your conveyancer and/or bank - they will tell you what's happening in your case. Re: First Home Owners Grant - VIC 6Apr 04, 2013 2:38 pm Ok thanks, I'm hoping we can get the grant in our bank as we have already paid enough in deposits for the house and land and shouldn't have to outlay anymore cash to extend the loan to cover the construction. We had a really bad broker who gave us a lot of wrong advice so I'm not going to deal with him anymore that's why I'm asking here. Re: First Home Owners Grant - VIC 7Apr 05, 2013 7:17 pm Hi there. I am going to be building in VIC and I have asked the question. I was advised by the bank and broker that as soon as the slab is laid then you can apply for the grant. The grant will go directly to YOU...very rarely will lenders let you use the FHOG as part of your deposit anymore as it is not "genuine savings". Good luck Build Permit-17/12/13 Earthworks-13/1/14 Slab-30/1/14 Frame-10/2/14 Lock Up-7/3/14 Fixing Stage Complete-20/3/14 New Home Presentation-6/5/14 Moved in 17/5/14! Blog: http://dandesbuild.blogspot.com.au Re: First Home Owners Grant - VIC 8Feb 11, 2014 4:07 am Is it only $10,000 if you build? I totally forgot about it. But our loan is a rocket repay and we will just put the FHOG into it and my tax this year should be around the 15k mark like last year. And if we need it we can withdraw some of it. Re: First Home Owners Grant - VIC 9Feb 11, 2014 8:50 am Yep, we had our FHOG paid directly to us once the first stage of building was completed and paid to the builder. Re: First Home Owners Grant - VIC 10Feb 11, 2014 9:29 am You can no longer user the FHOG as a form of deposit as too many people got them selves into hot water because of it and almost lost homes etc. You can choose to have it paid into your account or put onto your mortgage. Our Mortgage broker stuffed the whole thing up! We were meant to have it into our bank account, but for some reason it got paid onto our mortgage. That was going to be used for other things. But because this has been done he has said we will have more than enough equity to pull out that money again, but that just seems stupid to me! Ah well! As Long as we can get a little bit out to do our driveway and landscaping, we have saved just enough for the furniture and electircal goods. So hoping we can get this money out. We had been approved for the full amount, but for some reason ou mortgage broker forgot that we wanted the FHOG and put it onto our mortgage.. A little disappointed, but not the end of the world Re: First Home Owners Grant - VIC 11Feb 11, 2014 11:08 am Hi Sphell, I have recently just gone through a similar process last year and as a few people have already mentioned, since you are getting a construction loan, the FHOG can be claimed after you pay the slab stage invoice. I was able to get the FHOG paid directly into my nominated bank account so you don't necessarily have to use it for your mortgage if you have enough funds in your loan. Hope that helps! Thanks NativeZen! I can't wait to start landscaping, though it's going to be a while away yet. No movement on site yet as of the weekend. Hoping to see some earthworks… 3 2150 I have posted this before: We hired Darbecca to do every stage inspection, and I strongly recommend them to anyone that asks me. They were amazing. Thorough reports… 2 1926 We already paid for somfy motors for the blinds. 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