DHOAS Lump Sum.Do you know how it works?
Are you making the most of the Defence Home Ownership Assistance Scheme (DHOAS) Lump Sum? If not, you might be missing out on a valuable opportunity to secure your financial future.
Exploring DHOAS Lump Sum
The DHOAS Lump Sum is the next step to consider. If you’ve completed your qualifying period and accrued DHOAS entitlement, you could be eligible for a lump sum payment. You have the option to convert up to four years of your service credit into a lump sum.
Understanding the Lump Sum
It’s important to note that the lump sum is calculated based on the Tier 1 subsidy, regardless of your eligible tier. Additionally, the payment is not made prior to property settlement and cannot be used as an upfront deposit. You’ll need to manage your deposit differently in this case. Currently, the Tier 1 subsidy stands at $521, making a 4-year lump sum payment worth $25,000.
Qualifying for the Lump Sum
To qualify for the lump sum, you must not have previously purchased a property as either your primary home or an investment property. It’s a unique opportunity worth exploring if you meet these criteria.
Join Our Webinar
Learn how to make the most of the DHOAS Lump Sum and secure your financial future. Register for our upcoming webinar now.
Don’t miss out on the chance to understand the ideal strategy for accessing and using the DHOAS Lump Sum. Register today!