Myth 4: If you are a first home buyer and you want to use your First Home Buyers Grant as your deposit, you must build a new home… While the First Home Buyers Grant is not a bank funded grant, there are certain requirements to qualify for this grant. However that you must build a … Continue reading If you are a first home buyer and you want to use your First Home Buyers Grant as your deposit, you must build a new home… (Myth 4)