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DHOAS Loans
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By providing monthly subsidies on your monthly mortgage repayments the Defence Home Ownership Assistance Scheme (DHOAS) is designed to help you purchase or pay off your own home sooner.
Administered by the Department of Veterans' Affairs, DHOAS is only available to eligible members of the ADF and you need a 'Subsidy Certificate' for us to finalise any application. To contact us about DHOAS click here or call 1800 033 139.
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For an outline of who's eligible and how to apply, download our DHOAS Advantage Home Loans Brochure.
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For detailed information on DHOAS, please refer to the dedicated website www.dhoas.gov.au or call the Department of Veterans' Affairs on 1300 434 627.
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DHOAS Advantage Home Loans
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We're proud to be selected as a lender for the DHOAS and we have developed a selection of home loans to meet your individual needs and receive your monthly subsidy.
And depending on how you use your DHOAS subsidy you could even save thousands of dollars and cut years off the life of your loan.
For further information on how you could save with DHOAS, click here
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The DHOAS range of Loans
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> DHOAS Advantage
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> DHOAS Construction Advantage
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Could you save with DHOAS?
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How you use your DHOAS subsidy is up to you. You may want to use it to pay off your home loan sooner by making additional payments on your home loan.
By making additional payments on your home loan, you can reduce both the term and amount of interest you pay over the life of your loan.
So, using your DHOAS subsidy to increase your repayments on your home loan could save you thousands of dollars and cut years off the life of your loan.
The graph below illustrates how adding the current maximum tier 2 level subsidy of $308 on top of your normal repayments could make a difference to your total loan repayments. It is based on the assumption of a $300,000 Home Loan at 5.49% p.a. taken out over 25 years.
In total, you could save up to $72,797.91 and own your home six years and four months earlier, with a DHOAS Advantage Home Loan. And considering your home and the subsidy repayments can be tax free, using the subsidy this way adds up to one of the very best savings you can make.
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Of course this example is an indication only as it makes a number of assumptions like subsidy amounts and interest rates remaining the same. However, it does show how you could use your DHOAS subsidy to save on your loan and own your home sooner.
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And with redraw flexibility built into your loan you can access your additional payments should you ever need to.*
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For an indication of how much you could save using your eligible subsidy amount and our current interest rate,
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* A minimum of $100 applies. Not available during interest only period for DHOAS Construction Advantage.
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