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Get your foot in the door With our $5,000 First Home Buyers Grant

For most of us, buying our first home is one of the most exciting and frustrating things we’ll do.

As a First Home Buyer it can often feel like you're being shut out of the property market.

No matter which way you turn another door closes. At Credit Union SA, we understand how hard it can be.

That’s why… in addition to our very competitive home loan rates, we’re offering a $5,000 First Home Buyers Grant on new and established homes when you borrow at least $200,000.

From one South Australian to another it’s a step to help you get a foot in the door.

How is Credit Union SA’s First Home Buyers Grant different to the Government’s First Home Owners Grant? 

Currently the South Australian Government’s First Home Owners Grant is only available for people who are buying or building a new residential property. Whereas, Credit Union SA’s $5,000 First Home Buyer’s Grant is available to ALL first home buyers, regardless of whether you are buying an established home, or choosing to buy or build a brand new home.

Can I have both grants?

Yes! Credit Union SA’s $5,000 First Home Buyer’s Grant is independent of the Government’s grant, so assuming you meet the Government’s requirements, you could enjoy two grants to help you with your first home purchase.

How do I get my grant?

There are two ways you can choose to receive your grant from Credit Union SA:

  1. Have it paid into an account of your choice after settlement
  2. Choose to have it applied directly towards the settlement of your property purchase. 

The choice is yours, but the grant cannot be accessed prior to settlement. Please note that for construction loans that the grant will be payable following evidence of the foundation being laid and may be used as a contribution to the first progress payment.

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Read about Heidi's First Home Buying experience

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We understand that the journey to home ownership is exciting, but it can also be a little daunting the first time around.

Read on to learn about some of the key considerations and milestones you'll complete as you achieve your goal of home ownership.

Step one

Where to start

So you’ve decided to buy your first home, but don’t know where to start? Credit Union SA is here to help you sort through all of the red tape and nonsensical banking language.

Set your budget  Saving for your deposit Get pre-approved Build a home Renovate a home


Step two

How much can I borrow? 

Every home buyer is different, and the amount that each person can borrow is also different. Your borrowing potential is determined by your income, your assets, your living expenses, and the kind of loan you are after. 

Borrowing limits  Which loan for me?  Where should I buy?


Step three

Buying your home

So you’re ready to start looking for a home. You’ve got your deposit and your pre-approval sorted, so now you can start looking for your dream home. Real estate websites are great at making houses look desirable online, but seeing a house in person will speak volumes. 

Open inspections Buying at auction How to make an offer  Buying an investment Insure my home Paying off your loan 


How we can help

A clear and simple path to becoming a homeowner.

Calculate your repayments for different loans, for various terms and payment frequencies.

The ultimate in savings and flexibility.

Undisputed champions of flexibility.

Minimum loan $200,000 to purchase or build a first home. Lending criteria, fees and conditions apply. To be eligible, applicants must not have previously owned residential property in Australia. Available to natural persons only (i.e. not a trustee or a company).


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