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. 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:
If you're eligible, taking advantage of this scheme is one of the best things you can do for your property investment. Talk to our property investment coaches today and learn how you can make the most of your ADF housing benefits.
| Subsidy Tier | Minimum Permanent Service | Minimum Reserve Service | Subsidised Loan Amount | Maximum Monthly Subsidy* |
|---|---|---|---|---|
1 | 4 years | 8 years | $402,159 | Up to $263 |
2 | 8 years | 12 years | $603,238 | Up to $395 |
3 | 12 years | 16 years | $804,218 | Up to $527 |
Under certain circumstances, you may be eligible to have your subsidy paid out as a lump sum. If you have accrued sufficient entitlement you can convert up to four years of your service into a lump sum payment.
This equates to $263 per month x 4 years [48 months] = $12,624
This can be especially useful if you're looking to fast track your housing investment, but will only be applicable in some situations.
If you have both served more than 8 years, you can get the subsidy for a loan up to $1,206,476 (2 x $603,238) and received a monthly allowance of $790 (2 x $395). Now that is a massive chunk off your monthly repayments!!
Defence and DHOAS loans are different from typical home loans in that you must apply for one through one of three approved providers.
There are a range of DHOAS Loans available from the three providers, making it easy to find one that suits your needs. Additionally, many defence home loans have low rates and are quite flexible. If you're not sure which one is right for your needs, Axon's property coaches can help you choose.
Axon Property Group is dedicated to helping ADF members and their families get started in property investing. We take you from absolute zero to expert, giving you the knowledge and tools to succeed in property investing.
We can help you understand your defence home ownership assistance scheme loan entitlements and give you the best possible start with a defence home loan.
Start by watching our FREE ADF PROPERTY TRAINING!
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