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Question from @Dural, NSW

Can you use first home owners grant as deposit?


Justin Purll

Loan Market Select

Short answer is yes. Long answer is depends on your lender. Some will allow it for the deposit and some will not. You will need to ask your broker or lender if they will accept it.


David Sutantyo

Twelve Grains Capital

Some banks would allow the grant to form part of deposit to be paid at settlement. That said, you'll need to show "genuine savings" if the LVR is >90%