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:
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 | 2 years | 4 years | $364,916 | Up to $510 |
2 | 4 years | 8 years | $547,373 | Up to $765 |
3 | 8 years | 12 years | $729,831 | Up to $1,020 |
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 $514 per month x 4 years [48 months] = $24,672
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 4 years, you can get the subsidy for a loan up to $1,206,476 (2 x $603,238) and received a monthly allowance of $1,542 (2 x $771). 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.
We are thrilled to introduce the first of of three recent hires, Kat, who has joined our fast growing Build Support team. She’s bringing four years of experience in the administrative field that has instilled in her a passion for delivering exceptional support and fostering seamless communication. Yup, we can attest to that!
Back in March ‘21, Amy was introduced to us by another client. (The constant referrals within our community are humbling to be involved in!). She was a Learning Development Coordinator, not in the ADF. She was coachable and definitely needed some assistance in the whole process.
She had been diligent with her money habits and mindset, with a good amount of savings under her belt. However, we needed to put a plan in place for her to keep saving so the acquisition of her first property was done in a sensible way. This happens all the time. The fact she had financial milestones to reach helped her immensely in getting there!
We first met R&K in Aug 2020. They wanted to secure their financial future using property. Posted to Wagga (R was an RI at Kapooka and K was a civvie Dental Assistant), after a series of coaching sessions, we implemented a plan and strategy for them to acquire IP#1. That $457K property was built without any issues in 2021. Happy days, a good start for R&K.
M&V are a double-defence couple posted to RAAF AMB in Brisbane. After watching our educational videos, they came to us in March 2021. They needed guidance on all things money management and proven strategies to follow.
In their own words, 𝘈𝘹𝘰𝘯 𝘤𝘢𝘯 𝘩𝘦𝘭𝘱 𝘶𝘴 𝘣𝘺 𝘦𝘹𝘱𝘢𝘯𝘥𝘪𝘯𝘨 𝘰𝘯 𝘰𝘶𝘳 𝘰𝘸𝘯 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘵𝘩𝘦𝘪𝘳 𝘺𝘦𝘢𝘳𝘴 𝘰𝘧 𝘬𝘯𝘰𝘸𝘭𝘦𝘥𝘨𝘦 𝘢𝘯𝘥 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦𝘴 𝘳𝘦𝘨𝘢𝘳𝘥𝘪𝘯𝘨 𝘱𝘳𝘰𝘱𝘦𝘳𝘵𝘺 𝘣𝘶𝘺𝘪𝘯𝘨/𝘪𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨, 𝘱𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢𝘳𝘭𝘺 𝘳𝘦𝘭𝘢𝘵𝘪𝘯𝘨 𝘵𝘰 𝘈𝘋𝘍 𝘦𝘯𝘵𝘪𝘵𝘭𝘦𝘮𝘦𝘯𝘵𝘴. Yep, that sums up what we specialise in!
This inspirational young lady came to us way back in June 2021 at age 20! 20! Already possessing great money habits and a desire for success, she had an openness to learn how to invest the right way. Ella was remarkably clear about what she wanted to achieve and knew that she needed to seek guidance from professionals to ‘force multiply’ her well-established position. With the deposit and cost already saved and a yearning to move with a sense of purpose towards her goals, it was time to put a plan and a strategy in place to set her on an even greater path to success.
This is a success story that everyone should be inspired by!
After being referred to us through a mate who had built a house with 🙌 Axon, we first met Phil in March 2022. He is a single RAAF Pilot posted to Newcastle, loving life with his mates and regularly flying high-end platforms.
Phil had been brought up in a family that values education around money and wealth. (Yep, that’s also something that you should all be inspired by: “intergenerational wealth”). To his credit, Phil applied himself and came to us in a 💪 strong position (cash and shares). But, having this is never enough to be successful.
We are a Veteran-owned and operated company, working to empower the ADF Community to secure their financial future through education, coaching and mentoring in the property sector.
We acknowledge and pay respects to the people of the Yugambeh language region of the Gold Coast and all their descendants both past and present. We also acknowledge the many Aboriginal people from other regions as well as Torres Strait and South Sea Islander people who now live in the local area and have made an important contribution to the community.
