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Applying for a Home Loan

To be eligible to participate in the Home Ownership Program you must be at least 18 years of age and at least one applicant must be of Aboriginal and/or Torres Strait Islander descent.

Because the demand for home finance exceeds currently available funding, Indigenous Business Australia (IBA) has a two-step application process.

Step One – Request placement on IBA’s Expression of Interest Register

To be eligible to apply for a loan you must first have been accepted onto IBA’s Expression of Interest Register. To register please complete and submit the following two forms:

If your Expression of Interest meets initial eligibility requirements, IBA will let you know your name has been added to our Expression of Interest Register (a list of applicants who will be invited to apply for a home loan when funding is available).

It is not possible to know exactly when you may be invited to apply for home finance, however based on current funding this may extend to more than six months.

Step Two – Invitation to apply for an IBA home loan

IBA will write to you inviting you to apply for a housing loan and you will be asked to submit a Housing Loan Application form which we will assess to determine how much you can borrow from IBA based on:

  • your capacity to borrow some or all of the required funds from a bank or home lending institution
  • your employment status and housing history
  • your income and living expenses, including any other liabilities (e.g. personal loans and credit cards)
  • your ability to meet associated home ownership start up costs including a deposit and legal fees.

IBA requires some applicants to source a portion of their required loan funding from alternative lending institutions. Through its Split Loan facility clients borrow some of the loan funds needed to complete a home purchase from a commercial lender, with the remainder of the loan funds borrowed from IBA.

Find out more about our Loan Products and Fees and Charges.

If you apply for finance through IBA your personal credit history will be assessed. If you wish to know what information about you is held by the credit reference agency, you are entitled to obtain a copy which can be requested by visiting Veda Advantage (external website, new window).

When should I contact IBA?

After your name is added to the Expression of Interest Register please Contact Us if any of the following occurs:

  • your income increases or decreases
  • you take out any additional loans or credit cards
  • you have additional dependants
  • the funds you have available for a deposit increases or decreases
  • your address or contact details change.

Customer Service Charter

IBA is committed to providing its customers with the highest level of quality service. Our Customer Service Charter (PDF 718KB, new window) explains how you can tell us what you think of our services, and outlines the process for receiving and handling customers’ feedback and concerns.

Read more about our Customer Service Charter.