The market for Low and No Deposit Home Loans has become a lot more competitive in recent years. The information below is a guide only. If you are highly employable or have a strong income then lenders can be more flexible. We can arrange for the $7,000 First Home Owner's grant to be included in your costs so it is paid to the lender at settlement. If you fall into one of the following categories, please give us a call and we should be able to help you:

If the primary applicant has been in the same job for 6 months, and you have saved 3% over at least 3 months then you should be able to achieve competitive interest rates.

No Deposit Home Loan

If the primary applicant has been in the same job for 12 months then we have lenders who require no genuine savings at all. Generally with No Deposit Home Loans there is a mortgage insurance cost of between 2.5 - 3.2% This could have come from savings, other borrowings or you may have received it as a gift from another source such as friends or parents.

No Genuine savings, but with a 10% Gift

If the primary applicant has been in relatively stable employment and can get a 10% deposit from another source such as a gift from parents or friends, we may be able to help you borrow up to $650,000 dependant on the location. We can help clients to do this by using their parents home to raise the necessary 10% gift required.

106% Home Loans

For borrowers who need to borrower 100% plus mortgage insurance and all associated purchase costs there is an option of 106% home loan. These products tend to be at a higher interest rate but do allow you to get into the property market.