To improve opportunities for home ownership in particular remote areas, IBA is supporting an Australian Government initiative with a package of financial assistance and grants which may include:
- an IBA standard introductory interest rate loan with a longer introductory period and lower interest escalation rates
- up to $13,000 grant available to meet establishment costs, like legal or financial advice, pest report, property valuation and home insurance
- potential $20,000 grant available for minor house renovations, repairs and maintenance (subject to eligibility)
- low deposit requirements (from $1,500 depending on income).
Are you eligible?
Assistance is available to Aboriginal or Torres Strait Islander people who are able to demonstrate a capacity and readiness to take on the responsibilities that come with owning a home.
Locations where Remote Indigenous Home Loans (RIHL) are available include:
- remote Indigenous communities with a 99-year lease on community-titled land (additional conditions apply), and
- locations designated under the Australian Government's Remote Indigenous Housing Strategy -
- New South Wales: Baradine, Bourke, Brewarrina, Cobar, Collarenebri, Coonamble, Hilston, Lake Cargelligo, Lightning Ridge, Menindee, Narrabri, Nyngan, Walgett, and Wilcannia
- Queensland: Camooweal, Charleville, Coen, Cooktown, Cunnamulla, Longreach, Mitchell, Quilpie, St George, Winton, and Yowah
- South Australia: Umoona
- Northern Territory: Tennant Creek and Timber Creek
- Western Australia: Carnarvon, Halls Creek, Kununurra, Onslow Town and Wyndham.
Establishment Costs Grant
Subject to approval and eligibility, a RIHL applicant may receive a grant of up to $13,000 to assist in meeting the following establishment costs:
- legal advice and fees
- financial advice
- mortgage registration
- preparation of security documentation
- stamp duty
- property valuation
- pest and building reports
- pest control
- home insurance for the first year
- project manager costs for new constructions or renovations.
Remote Indigenous Home Buyer Grant
Some properties may need repair and maintenance. Subject to approval and eligibility, a grant of $20,000 may be available to cover the following expenses:
- minor house repairs and maintenance
- other costs associated with completing the home purchase, not met under the Establishment Costs Grant.
This grant is only available to applicants with total gross incomes up to $92, 040 (effective as at 1 December 2022 and subject to change at any time).
Moving from a remote location?
People who permanently move from a nominated remote location or an outstation/small Indigenous community after 1 August 2015 remain eligible for RIHL and associated grants for up to five years from the date they move.
The applicant must have been a permanent resident of the remote community and moved for education or employment opportunities.