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Lenders will take the FHOG and any other grants as part of the deposit. They still have a 'genuine savings' policy that you need to meet. This means you need to save at least 5% of the purchase price yourself outside of everything else. The FHOG isn't genuine savings. My basic rule of...

He may be talking about AMP, but I think their DUA is only to 90%. We both know that you wouldn't want to use them above that anyway.

You should give Kinnon (above) a call. She's based out of Cairns, which is a lovely sunny city, but sadly it's also got one of the highest rate of people with defaults (very tourist dependant and the high Aussie dollar hurts the tourism industry). The comment about $500 or less is spot on...