The aim of the Home Ownership Assistance Program is to assist members with a deposit on their first home. Saving for a deposit for your first home can be quite challenging. This program will enable members to waive their 2018-19 program balances under the flexible program model, and place the money into a trust account. The money will remain in a trust account until their property settlement is scheduled, and the funds would be transferred to the settlement agent directly on your behalf.
The program will only be available to first homebuyers for the purchase or the construction on your first home. The Member will need to be employed full time and will need to show proof of employment for at least six months.