Defence Home Ownership Assistance Scheme – What is it?
The Defence Home Ownership Assistance Scheme (DHOAS) assists current Australian Defence Force members, and eligible veterans of the Australian Defence Force to achieve home ownership, and is administered by the Department of Veterans’ Affairs.
There are 3 tiers of subsidy, which the amounts are reviewed yearly by DVA, but the tiers are broken down into years of service as follows;
- Tier 1 – 4 Years Permanent Service / 8 Years Reserve Service
- Tier 2 – 8 Years Permanent Service / 12 Years Reserve Service
- Tier 3 – 12 Years Permanent Service / 16 Years Reserve Service
However, if you have provided warlike service you will be entitled to additional subsidy assistance, extending your service credit, as detailed below;
Period of Warlike Service*
|
Additional Service Credit
|
---|---|
Not more than 3 months**
|
2 years
|
More than 3 but not more than 6 months
|
3 years
|
More than 6 but not more than 9 months
|
4 years
|
More than 9 months
|
5 years
|
Where is it available?
A Defence Home Ownership Assistance Scheme administered home loan is currently available through 3 banks;
- Defence Bank – https://offers.defencebank.com.au/dhoas-home-loan
- Australian Military Bank – http://www.australianmilitarybank.com.au/dhoas-home-loans
- National Australia Bank – https://www.nab.com.au/personal/home-loans/nab-defence-force-home-loan
To apply for DHOAS Home Loan, you will first need to be given a subsidy certificate from the Department of Veterans’ Affairs, and you can submit the form online, or complete it manually and either send it via mail or scan and submit it via email. To apply for the Subsidy Certificate you will require to be eligible for a DHOAS Home Loan, follow the following link – https://www.dhoas.gov.au/application_for_subsidy_certificate
Further information and subsidy amounts are available online at https://www.dhoas.gov.au/.
If your unsure or would like to speak with someone in person, call National Service Financial today on 1300 580 802.