First Home Buyers Loans are designed to help first home buyers enter the property market. These loans are generally available to people who have never owned a property before.

The eligibility criteria for First Home Buyers Loans can vary depending on the state or territory you are in. In general, you will need to meet certain income and asset requirements, as well as other criteria such as being an Australian citizen or permanent resident.

Each state and territory has its own First Home Buyers Loan scheme with different benefits and eligibility criteria. For example, the First Home Owner Grant (FHOG) is a national scheme that provides a one-off payment to eligible first home buyers who purchase or build a new home. The amount of the grant varies depending on the state or territory you are in.

In addition to the FHOG, some states and territories also offer stamp duty concessions or exemptions for first home buyers. These concessions can help reduce the upfront costs of purchasing a property.

To apply for the First Home Owner Grant (New Homes) scheme with your financial institution, they need to be an approved agent.

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