Start of Subsidy Payments
You will receive your first DHOAS subsidy after the following:
- Your home loan provider advises DVA that you have drawn down your loan.
- DVA receives your completed Subsidy Authorisation Request Form, in which you indicate you are meeting the conditions of the Scheme. You need to have moved into the subsidised home and commenced the 12 month occupancy requirement before your payments will start.
Payments are made at the start of each month and cover the month or two months prior, depending on the timing of your loan drawdown.
For example, if you draw down your loan in August, you will receive your first subsidy payment in early October. This first payment will be for September, and depending on the actual date within the month that you draw down, it may also be for August.
If you draw down your loan prior to the 10th business day before the end of the month, your first payment will cover two months of subsidy.
For example, if you draw down your loan on 15 August, you will receive your first payment on 1 October, and it will include your subsidy for August and September.
If you draw down your loan on 22 August, you will receive your first payment on 1 October, but it will include your subsidy for September only.
Important: Please note that you will not receive your first subsidy payment (and your DHOAS lump sum if you have selected that option) at the same time you settle your house, or at the same time your first housing loan repayment is due.