The Application Process
Buy your home
Make an appointment with a MyState Bank lender to start your application
Are you eligible?
If you can tick off all of these requirements, then you’re most likely eligible to receive the offer:
- You are single or joint borrowers. If joint borrowers you are in a married or de facto relationship
- You’re at least 18 years of age
- You pass an income test
- You have at least a 5% deposit saved
- You and any other applicant are first home buyer’s
- You are going to live in the property (not an investment)
- You and any other applicant are Australian Citizens
- The property you are looking to purchase falls within the Property Price Thresholds
For more detailed information, please view the Scheme Information Guide.
The Scheme includes an income test for:
- Singles – your taxable income for the previous financial year must not be more than $125,000
- Couples – your combined taxable income for the previous income year must not be more than $200,000
For applications received from 1 July each financial year, it is a requirement that you have your ATO Notice of Assessment from the previous financial year completed.
Property Price Thresholds
There is a maximum property purchase price under the Scheme which applies in capital cities, large regional centres and regional areas. You can find a list of the property price thresholds as well as a tool to search by postcode on the NHFIC website.