remote indigenous housing loans

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.