dhoas
The Defence Home Ownership Assistance Scheme (DHOAS) is a subsidy and home loan scheme available for current and former Australian Defence Force members. It is designed to assist ADF members and their families in repaying their defence home loan and achieve homeownership easier.
The Australian Government has announced a $46.2 million expansion of the Defence Home Ownership Assistance Scheme, aiming to improve access to home ownership for eligible defence personnel earlier in their careers.
The changes will allow veterans who served on or after 1 July 2008 to access the scheme at any stage after they have left the service.
From 1 January 2023, the eligibility criteria for the scheme for each subsidy tier will be expanded by:
-Halving the minimum service required for access by current ADF members from four to two years for permanent service, and from eight to four years for Reserve service.
-Removing the access cap altogether for veterans who have left the service (previously five years).
To be eligible, you must have:
How much you’re entitled to is calculated as a percentage of the average house price, and split into three tiers based on service length. These are:
Basically, the longer you’ve been serving with the ADF, the higher the maximum subsidy on offer is. Property Coach Robbie runs through the most relevant and up to date information regarding the subsidy and the tiers:
The subsidy estimate is based on the latest available data and may vary with interest rate changes.
Ready to advance your property journey? Make sure you're pulling the trigger at the right time and the right place. Click here to access our free coaching and expert DHOAS advice.
Train with us| Subsidy Tier | Minimum Permanent Service | Minimum Reserve Service | Subsidised Loan Amount | Maximum Monthly Subsidy* |
|---|---|---|---|---|
| 1 | 2 Years | 4 Years | $455,622 | up to $583 |
| 2 | 4 Years | 8 Years | $683,433 | up to $874 |
| 3 | 8 Years | 12 Years | $911,244 | up to $1166 |
You can see that you have to wait two years of service before you gain access to DHOAS. Most people find it beneficial to wait until they have done at least four to six years of service before pulling the trigger. This is for either of two reasons:
1- So you can have a higher monthly subsidy (about an extra $258 per month stays in your pocket) or;
2- So you can use four years of service in a lump sum – very useful to top up your cash buffer after you have purchased your home.
The real kicker is the main condition of receipt – you and/or your family must occupy the home for at least 12 months and you will need to be occupying the home and holding a valid subsidy certificate before your subsidy payments will commence. To see what you might be entitled to you can use our DHOAS calculator.
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