Defence Home Ownership Assistance Scheme (DHOAS) Loans

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Defence Home Ownership Assistance Scheme (DHOAS) Loans

(Image Courtesy Australian Military Bank)

Mates Rates Mortgage Brokers Cash-Back offer for current and former Australian Defence Force members and their families

If you are a current and former Australian Defence Force (ADF) member who is eligible for the Defence Home Ownership Assistance Scheme (DHOAS), Mates Rates Mortgage Brokers are here to help you pay off your DHOAS loan faster with our exclusive cash back home loan offer.

On average, we can save you up to an additional 0.20%* pa for the life of your DHOAS subsidy rate loan. This 0.20% pa cash back is credited to your loan by Mates Rates Mortgage Brokers, it is not a cash back paid by Australian Military Bank.

It’s our way of saying thank you to our mates in the ADF for keeping us all safe!

What is the Defence Home Ownership Assistance Scheme (DHOAS)?

The Defence Home Ownership Assistance Scheme or DHOAS is an initiative of the Australian Government, designed to assist current and former Australian Defence Force (ADF) members and their families to achieve home ownership.

If you meet the DHOAS scheme conditions, including occupancy requirements, you may be eligible to receive monthly subsidy payments.

Beware the Cash-Grab mortgage broker who mostly cannot offer a DHOAS loan so they will instead focus on the higher interest rate of DHOAS loans without the consideration and/or inclusion of your DHOAS subsidy to convince you to forgo a lower interest rate lender.

Only Mates Rates has the calculators to accurately compare cheaper interest rate lenders with no monthly subsidy DHOAS with DHOAS loans with subsidy and our exclusive Mates Rates Cash-back so you will truly know what is the most cost effective home loan solution for you.

To find out if you’re eligible for the DHOAS Scheme, you call the DHOAS (1300 434 627), visit https://www.dhoas.gov.au or read our FAQs at the bottom of this page.

Once you have determined your eligibility, Mates Rates Mortgage Brokers can help you pay off your DHOAS loan faster.

How does Mates Rates Mortgage Brokers Cash-Back work for DHOAS loans?

Mates Rates Mortgage Brokers was founded on a defining philosophy to always offer the lowest price because the buyer is a mate.

While other mortgage brokers keep the trailing commission and make money off of it (and you) for the life of your loan, at Mates Rates we pay 100% of the trailing commission we receive from the lender right back onto your home loan.

As a result, our cash back creates a compound interest saving home loan that costs you a lot less in yearly interest, with the added bonus of reducing your balance so you can own your home much faster.

To date, more than $10 million of our cash back commissions have been credited to our mates, helping them to pay off their home loans sooner.

You can use our FREE cash back calculator to see how much you can save on a DHOAS subsidy loan with cash back from Mates Rates Mortgage Brokers.

Pay off your DHOAS loan faster with Cash-Back on your DHOAS subsidy rate loan

As an accredited broker with Australian Military Bank, a DHOAS home loan provider, Mates Rates Mortgage Brokers can offer eligible ADF members a DHOAS subsidy loan for less when factoring in cash back for the life of the loan.

With the DHOAS loan rate and an additional cash back paid directly onto the home loan, Mates Rates can save eligible ADF members thousands of dollars over the course of their loan!

If you’re an eligible ADF member, don’t be seduced into taking a loan with a lower interest rate upfront. If you forego your DHOAS subsidy rate – it will always cost you more in the long run!

Contact us now for a free home loan comparison to see how much more cost effective your DHOAS loan could be with cash back from Mates Rates and how we can help you to pay off your DHOAS loan faster!

Take a closer look at how our home loan process works or get in touch to get help to pay off your DHOAS loan faster!

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Frequently Asked Questions

Current and former Australian Defence Force (ADF) members who have:

  • Completed a qualifying period of service,
  • Accrued a service credit, and
  • Met the DHOAS subsidy loan scheme conditions, including occupancy requirements.

If you are eligible for a DHOAS subsidy loan, your subsidy will be paid monthly, directly into a DHOAS home loan.

The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit. For an overview of how the Scheme works, see Steps to DHOAS benefits.

Because the DHOAS Scheme is designed to improve ADF recruitment and retention and reward you for your service, the longer you serve in the ADF, the more entitlement you accrue and the longer you can receive assistance.

If you meet the eligibility criteria, you will be eligible for benefits under one of three subsidy tiers:

  • Tier One – Minimum two years permanent service or four years reserve service
  • Tier Two – Minimum four years permanent service or eight years reserve service
  • Tier Three – Minimum eight years permanent service or twelve years reserve service

Mates Rates offers eligible ADF members a further 0.20% pa cash back savings in addition to the DHOAS rate on an Australian Military Bank home loan.

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