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First Home Owners Grant (FHOG)
 If you’re thinking of buying your first home and are trying to figure out how much you can afford, you need to look into the federal government FHOG (First Home Owner Grant) program.
The grant is administered at the state and territory level so there are some differences depending on where you are buying. To find general information about the program, enter FHOG in (your state or territory) into your favorite Internet search engine and you’ll be directed to the appropriate web site.
You should also speak to different mortgage loan consultants in your local area to help determine whether or not you qualify for this grant, as well as for other forms of government assistance that may be available.
Once you’ve determined your eligibility you’ll need to apply for the grant. Here are the things you’ll have to have to apply
- Mortgage Pre-Approval
- A signed contract to purchase
- A completed grant application (done after formal loan approval)
- 100 points of certified ID
Although you can apply for the grant on your own, your lender can handle the process, allowing you to worry about other things! Once the grant is approved, the funds will be placed in your mortgage account and are available at settlement.
One final point bears mentioning. If you are familiar with the points ID program you know different types of proof of identification are assigned different point levels. Passports and birth or citizenship certificates are worth 70 points. A driver’s license is worth 40 points while credit card and bank accounts are worth 25 points.
However, some of the states have different requirements regarding what types of points they accept towards approving the FHOG. Make sure you or your lender verify you have enough ID points to satisfy the requirements of the state or territory in which you are applying.
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