All Topics / Help Needed! / Question about FHOG and Mortgage

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of kons101kons101
    Member
    @kons101
    Join Date: 2008
    Post Count: 4

    Hi,

    Looking to purchase my first property soon. My question is does the mortgage have to be under my name in order to claim the FHOG?? I was wanting to re-finance my dad's existing mortgage to purchase the property and not sure if this will affect the outcome of getting the FHOG.

    kons101

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    As long as the property is not your principal place of residence and is treated as an investment property (and all other FHOG criteria have been met) you should still be able to still qualify for the Grant when you purchase your PPOR.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    As long as the property is not your principal place of residence and is treated as an investment property (and all other FHOG criteria have been met) you should still be able to still qualify for the Grant when you purchase your PPOR.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of kons101kons101
    Member
    @kons101
    Join Date: 2008
    Post Count: 4

    Why can't the property be my principal place of residence?

    Profile photo of Skip101Skip101
    Member
    @skip101
    Join Date: 2005
    Post Count: 33

    If the mortgage and title is in your fathers name, you will not get the FHOG

    Profile photo of kons101kons101
    Member
    @kons101
    Join Date: 2008
    Post Count: 4

    What if the mortgage is in my father's name but the title is in my name?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Firstly you wont get a lender provide that and secondly the answer is NO.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

Viewing 7 posts - 1 through 7 (of 7 total)

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