06 Jul 2021

Home Loans for Members of the Armed Forces, Including the Australian Military

Other benefits of debt consolidation

If you are a member of the Australian Armed Forces or the Australian Defence Force, you may be eligible for home loan subsidies under the Defence Home Ownership Assistance Scheme and incredible home loan discounts. 

Available Discounts

Depending on how long you served, you may be eligible for the following:

  • Borrowing 95%
  • Discounted interest rates
  • ADF interest rate subsidies
  • Government Homebuyer benefits
  • Investment loans
  • 20-year loan terms without warlike service, or 25 years with
  • Construction loans

Qualifications for a Defence Force Home Loan

  • Must have served in the past five years
  • Must have completed a minimum qualifying period
  • You must live in your home for 12-months after the loan approval process has been completed. Exemptions are made for military postings. 
  • You must have service credit, which is accrued after you complete your qualifying period. This service credit can be exchanged for a variety of subsidies. 

Accruing Service Credit

If you are a permanent member of the ADF or the Armed Forces, you have a qualifying period of four years. After this period is over, you start earning service credit after a month. Every month equals one service credit. Therefore, a maximum of 48 credits can be exchanged for a subsidy. If you are a reserve member, you have an eight-year qualifying period. One year of subsidy credit is earned for every financial year you serve 20 days. 

If you are an Australian service member searching for a home loan, consult with the brokers at Mortgage House. We specialise in home loans for the ADF and can find you loans with special discounts. 

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