According to the Australian Bureau of Statistics (ABS), there were 1,524 new loan commitments to owner-occupier first home buyers in August 2022 in WA, up 13.9% from the previous month.

If you’re looking to buy a home for the first time in the wildflower state, here’s a breakdown of the government financial assistance available to you.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

How does the WA First Home Owner Grant work?

Launched in October 2008 as the First Home Owner Boost, the WA First Home Owner Grant (FHOG) is designed to provide a helping hand to first home buyers.

The WA FHOG is a one-off $10,000 payment to first home buyers purchasing or building a new residential home. It is not available for established homes or for renovations to an existing home. A home that has been substantially renovated may be considered a new home.

The grant is not means-tested so your income won’t affect your eligibility for the grant.

What are the price limits for the grant?

Price limits for the WA FHOG are dependent on what suburb you’re buying a home in. If the property or land is:

  • South of the 26th parallel, the price limit is $750,000.

  • North of the 26th parallel, the price limit is $1,000,000.

The 26th parallel is a line of latitude located at Shark Bay on the WA coast. All Perth metropolitan areas are south of it.

The total value of a transaction comes down to the type of transaction:

  • For off the plan purchases or new homes, it is the greater of:

    • the consideration for the contract to purchase, or

    • the unencumbered value.

  • For contracts to build, it is the total of the consideration for the contract to build and the unencumbered value of the land.

  • For an owner-builder, it is the total value of the home and land at the date the transaction is completed.

WA First Home Owner Grant eligibility

To qualify for the WA FHOG you must:

  • Be 18 years or older.

  • Have at least one applicant be an Australian citizen or permanent resident.

  • Not have received any other FHOG grants or stamp duty exemptions anywhere in Australia.

  • Not have owned any residential property before.

  • Reside in the property as your principal place of residence for a continuous period of at least six months, within 12 months of settlement or date of building completion.

How do you apply for the WA First Home Owner Grant?

When applying for the WA FHOG, you will likely do so via an approved agent. Approved agents are institutions authorised to process applications, which includes most home loan lenders. Typically, you would lodge your application through the lender you’re borrowing from. Contact your lender to find out whether they are an approved agent.

If your lender is not an approved agent, then you can lodge an application directly with RevenueWA. To apply for the WA FHOG you will need to fill out an FHOG Application Form found on the RevenueWA website.

You can apply once a contract has been signed and dated by all parties to buy or build a new home, or when the foundations have been laid if you’re an owner-builder. Applications must be made within 12 months of the completion of the eligible transaction.

When filling out the application form, you’ll be required to provide a number of documents, including:

  • Evidence of citizenship or permanent residency (birth certificate, passport, citizenship certification).

  • 100 points of identification (drivers license, passport, proof of age card).

  • Evidence you reside in Australia (Medicare card, debit/credit card, vehicle registration).

  • Copy of the contract for the purchase of the home (if buying a new home or off the plan).

  • Contract to build a home (if building).

  • Certificate of title and evidence of building costs (if an owner-builder).

When will the grant be paid?

When the grant will be paid comes down to the type of transaction and how you applied. You can find the details in the table below:

Type of transaction

Applying through:

Payment of grant

Purchase of a new or off the plan home

Approved agent

At date of settlement by approved agent.

Purchase of a new or off the plan home


After you have provided evidence to RevenueWA that your name has been registered on the certificate of title of the property (approximately three to six weeks after settlement).

Contract to build

Approved agent or RevenueWA

After you or the approved agent has provided evidence of the date of first construction progress payment and the applicant’s name is registered on the certificate of title of the property.

Owner builder

Approved agent or RevenueWA

After you or the approved agent has provided evidence that the home is ready for occupation as a place of residence and your name is registered on the certificate of title of the property.

Source: RevenueWA

Can you use the grant for a deposit?

You can use the WA FHOG for a deposit but at $10,000, it’s unlikely to be enough to purchase a home on its own. To avoid Lenders Mortgage Insurance (LMI), borrowers generally need to fork out a 20% deposit. Using the Perth median value of $558,879 (at the time of writing), a 20% deposit would require you to come up with $117,775.

So, the WA FHOG wouldn’t even cover 10% of a 20% deposit. While some lenders may let you buy with a 5% deposit, it’s always best to save up as much as possible to avoid paying tens of thousands of dollars on LMI.

Can first home buyers get stamp duty discounts in WA?

First home buyers can get stamp duty discounts in WA, depending on how much their property costs. Known as the first homeowner rate of duty (FHOD), you may be eligible if:

  • You qualify for an FHOG

  • You would have qualified for the grant if it was available for established homes

The FHOD allows you to be exempt from paying stamp duty if your property has a value of less than $430,000. For properties valued between $430,001 and $530,000, you’ll pay a discounted rate of $19.19 per $100 above $430,000. Properties valued above $530,000 won’t receive any discount and will be charged stamp duty at the full residential rate. For reference, properties valued between $360,001 and $725,000 will typically be charged $11,115 plus $4.75 per $100 above $360,000.

You can apply for pre-approval for the FHOD using the same application form as the FHOG.

Can you get both of these schemes?

First home buyers can take advantage of both the WA FHOG and FHOD. In fact, you can apply for both of them at the same time.

What other WA schemes and grants can first home buyers use?

In addition to the WA FHOG, there are a number of Federal Government grants available to first home buyers.

The Regional First Home Guarantee

The Regional First Home Buyer Guarantee Scheme is designed to target first home buyers in regional Australia.

With the Regional First Home Guarantee, 10,000 guarantees each year will help first-home buyers purchase a regional home with as little as 5% loan deposit without having to pay LMI. This means you can borrow up to 95% of the property value, with the federal government providing the lender with a guarantee of 15%.

The Family Home Guarantee

The Family Home Guarantee allows single parents to secure a home loan with as little as a 2% deposit (via a government guarantee of up to 18%). Launched on 1 July 2021, 5,000 spots will be available every financial year until June 2025. Participants must be a first home buyer, with a maximum income of $125,000. The loan must be repaid through principal and interest repayments and can’t be longer than 30 years.

The First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSS) helps first home buyers save up a deposit by utilising the tax discounts that superannuation can offer. Essentially, it allows first home savers to salary sacrifice up to $15,000 per year towards the scheme at a discounted tax rate of only 15% (instead of their marginal tax rate - typically 32.5%).

When ready to buy a house, up to $50,000 can be released from the scheme (plus any earnings).

Photo by Nathan Hurst on Unsplash

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