Defence Bank helps Ipswich man to buy first home.

A first home buyer in Ipswich says the First Home Loan Deposit Scheme, one of many government initiatives that support eligible first home buyers to purchase a home sooner, has saved him thousands of dollars and helped achieve his dream of home ownership much sooner.

33-year-old Kane Ramon has bought a property in the Ipswich suburb of Yamanto which he views as potentially a “forever home”.

Ipswich is one of the most popular suburbs to access the scheme, with a report on the scheme showing it was second in Queensland for take-up.

Ramon, an engineer who serves in the Defence Force says the process was remarkably simple, but he switched from Suncorp to Defence Bank to take out his home loan because they better understood his requirements.

“Obviously being a first homeowner, I had some questions, but Defence Bank was always happy to help out.

“Every question I had, Donna (one of Defence Bank's home loan consultants) knew the answers or was able to direct me to find the right answer.

“I did know about the first homeowner’s scheme, but I wasn’t sure how it all worked and what I was eligible for, so Donna did explain that side of things to me, the nuts and bolts of how it all worked.”

Ramon’s new home features four bedrooms, hardwood floors and is set on 1300 square metres.

The double story house adjoins a creek bed with potential for an expanded back deck and entertainment area to capture the view.

Ramon says because he’d established a savings plan, finding his new home was a lot easier than he thought.

“It didn’t take me long at all as I had the deposit before I even joined the army three years ago.

“I did my research, and I probably did 80% of the home loan application process in branch. Any questions I had I gave Defence Bank a quick call and Donna was more than happy to help or give me a call back the same day and follow up with me.”

Places are available for the First Home Loan Deposit Scheme (New Homes) and can be discussed with Defence Bank home loan consultants and more information on FHLDS (New Homes) is available here.

 

Want to talk to someone about buying your first home?

Find a home loan consultant near you.

 

*Only FHLDS (New Homes) places available. Eligibility and lending criteria apply.

Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.

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Frequently asked home loan questions.

You need to have at least 5% genuine savings plus enough funds to cover fees and charges.

Where you have less than a 20% deposit, lenders mortgage insurance (LMI) or, if you are eligible, a First Home Loan Deposit Scheme Guarantee will be required. It’s best to talk to a home loan consultant to find out more.

Look at our home loan options.

The Defence Home Ownership Assistance Scheme (DHOAS) assists current and former Australian Defence Force (ADF) members and their families to achieve homeownership.

DHOAS is administered by the Department of Veterans' Affairs (DVA) on behalf of the Department of Defence.

DHOAS provides eligible current and former serving members of the Permanent Force and the Reserves with a subsidy on the interest of their home loans.

The subsidy is paid monthly, directly into a DHOAS home loan. The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit. 

To learn more about Defence Bank DHOAS home loans click here

To find out more about DHOAS and your eligibility click here

Yes, we are one of the financial institutions who are able to offer this scheme to our members. To check your eligibility, visit the National Housing Finance and Investment Corporation (NHFIC) website.
Check if you’re eligible.