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Our no deposit home loans offer a flexible and accessible path to homeownership.

Ready to Secure Your No Deposit Home Loan?

No Deposit Home Loans: Make Home Ownership a Reality

Dreaming of owning a home but struggling to save for that massive deposit?

In Sydney, the median house deposit exceeds $258,000, and that’s just the beginning. When additional expenses such as stamp duty and taxes are taken into account, the total savings required can surpass $300,000 before you’re in a position to purchase a property. For an average individual earning $100,000 annually, it could take nearly a decade to accumulate the necessary funds.
 
But there’s a faster way.
 
With our Deposit Boost Loan, you only need to pay 2.2% of the property’s value upfront. Plus, you won’t have to worry about Lender’s Mortgage Insurance (LMI), saving you thousands. Instead, there’s a flat fee of 2% (+ GST) , which can even be reduced depending on the size of your initial deposit contribution.

How It Works

  • Lower Upfront Costs: Instead of the typical 20% deposit, you only need to contribute 2.2% of the property value upfront.

  • No LMI Payable: Unlike other low-deposit loans, you won’t have to pay costly Lender’s Mortgage Insurance, making this option even more affordable.

  • One Flat Fee: Pay a simple 2% flat fee, which may be reduced depending on the size of your upfront deposit.

  • Flexible Financing: The Deposit Boost Loan helps bridge the gap, covering the remainder of what would normally be required as a deposit.

Why Choose a No Deposit Home Loan?

  • Get into your home sooner: Skip the long years of saving and start building equity sooner.

  • Keep more of your savings for other upfront costs like moving, renovations, or maintaining a financial buffer.

  • No LMI and one simple fee to simplify your loan process and lower your costs.

  • Affordable and flexible repayments designed to fit your lifestyle.

Lets get you home

Frequently Asked Questions (FAQ)

We assess several factors to determine your eligibility, including:
 
  • The area you are buying in: Some locations may be more favourable due to property value trends and market stability.
  • Total savings: We’ll check if your savings are sufficient to cover your upfront costs, including stamp duty and other fees.
  • Your income and employment status: Consistent and stable income is essential to ensure you can manage ongoing mortgage repayments.
  • Other personal and financial details: This includes your credit history, existing debts, and overall financial health to assess your borrowing power.

It’s a straightforward 2% payment (+GST) on the value of your home. While no deposit contribution is required, customers who contribute 5% or more will receive discounts on their repayments.

No! You don’t need to pay Lender’s Mortgage Insurance (LMI). This product is LMI-free.
 
What’s LMI?
 
Lender’s Mortgage Insurance (LMI) is an insurance that protects the lender in case you default on your mortgage. It’s paid by the borrower and is typically required when your deposit is less than 20% of the property’s purchase price. Depending on the value of your home, LMI can add tens of thousands in upfront costs to your home purchase. With our No Deposit Home Loan, you avoid these hefty fees entirely.

Notes
The information is of a general nature only and has been prepared without taking into account your particular financial needs, circumstances and objectives. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. You should obtain professional advice before acting on this information.

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