We demystify home buyer grants and ADF schemes and entitlements that Defence members might be eligible for.
What is DHOAS?
The Defence Home Ownership Assistance Scheme (DHOAS) is an initiative by the Australian Government to assist current and former Australian Defence Force (ADF) members and their families in purchasing their own home.
Eligible members can receive a monthly subsidy on their home loan interest, which can significantly reduce the amount of interest they pay over the life of the loan.
Am I eligible for DHOAS?
To be eligible for DHOAS, ADF members need to have completed a certain period of service and meet other specific criteria.
From January 2023, there have been some positive changes to make it easier for current and former ADF members to qualify for, and access DHOAS.
These changes include:
- reducing the minimum qualifying period for current ADF members (from four to two years for permanent service and from eight to four years for Reserve service)
- and eliminating the previous five-year deadline for veterans who have left the service to access their final subsidy certificate.
For information about your DHOAS eligibility contact the Department of Veterans’ Affairs.
DHOAS subsidy tiers for 2023-2024.
|Tier.||Minimum permanent service.||Minimum reserve service.||Subsidised loan amount.||Maximum monthly subsidy.|
|1||2 years.||4 years.||$364,916||Up to $523.|
|2||4 years.||8 years.||$547,373||Up to $784.|
|3||8 years.||12 years.||$729,831||Up to $1,046.|
Estimated monthly subsidy values based on the October 2023 median interest rate. These monthly subsidy values fluctuate based on changes in the median interest rate.
Consider these DHOAS compatible home loans.
Defence Bank is an approved DHOAS home loan provider. You can count on us to find the home loan that's right for you.