Timing of payments
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, when you moved into your new home and submission of a Subsidy Authorisation Request Form (SARF) http://www.dhoas.gov.au/forms.html.
For example, if you draw down your loan in August, move into your home and have submitted the SARF, 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 and moved into your new home on the same date, you will receive your first payment on the first business day in 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 the first business day in October, but it will include your subsidy for September only.
If you don't move into your home when the loan draws down, to be eligible to start receiving subsidy, you must have a valid subsidy certificate when you do move into your home.
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 home purchase, or at the same time your first housing loan repayment is due.