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Ventura South West / Home Finance / Low deposit home loans

Low deposit home loans

Get started with as little as $3K*

Dreaming of owning a home in the South West, but don’t have the savings to make it happen? With a low deposit home loan, the home you’ve always wanted could be much closer than you think!

Whether you’re renting, living with your parents or have owned a home before, low deposit home loans are the perfect way to start building much sooner. Most traditional lenders require a minimum 10 or even 20% deposit for a home loan, but with a low deposit home loan, you could qualify with as little as $3K* in your pocket. Imagine that, instead of saving for months or even years while property prices increase, you could start reaping the benefits of owning your own home sooner!

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Our in-house team of finance specialists can help! Owning a home in the South West could be much closer than you think. Get in touch with us today to find out what you qualify for.

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What is a low deposit home loan?

A low deposit home loan is a finance option that is designed to help buyers with minimal savings get into their own home sooner.

Whilst most lenders require a large deposit for finance approval (often a minimum of 20% to avoid Lenders Mortgage Insurance), low deposit home loans aim to lower entry costs by allowing buyers to qualify for a loan with a deposit as low as 2-5%. That means, you could start building with us with only a $3K* deposit!

For many Australians, this could mean getting into a home years sooner. Instead of saving tens of thousands of dollars while paying rent and other living expenses, you could get into the property market right now.

To qualify for a low deposit home loan, you won’t even need genuine savings. With many low deposit lenders, you can use a cash windfall (like a gift from your parents or lottery winnings) to get into your own home sooner. If you’re a first home buyer, you can even use the First Home Owners Grant (FHOG) as a deposit! Why wait when you could start to build equity in your own home right now?

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Do I qualify?

So, who’s eligible for a low deposit home loan? To qualify you’ll need to meet a number of minimum requirements. Here’s the basics you’ll need to fit the criteria…

  • Be 18 years or older
  • Be an Australian citizen or permanent resident
  • Have a stable income

FAQ’s

Find the answers to some of the most common questions asked by first home buyers, or get in touch with our expert team to learn more!

Can I buy a house with a small deposit?

Yes, with a low deposit home loan you can. Low deposit loans are designed to help you get into the housing market quicker, even if you don’t have a lot saved up. If you only have a small amount of savings but can afford to pay your rent, then a low deposit home loan could be for you.

What’s the lowest deposit for a mortgage?
Generally the lowest deposit you can expect from a traditional lender is around 10%, although some are willing to accept a deposit of 5%. It’s possible to pay a deposit as low as 2% with WA’s Keystart initiative, but strict eligibility criteria apply.
What are the main benefits of a low deposit loan?
The main advantages of a low deposit home loan is that they allow you to get onto the property market sooner with a smaller deposit which means you can stop paying rent and start growing the equity in your home.

Escape the rent trap in style

At Ventura South West we’re committed to building quality homes that anyone can get into. First home buyers will be spoilt for choice with our huge range of homes designed to fit your lifestyle, block and most importantly, your budget.

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  • Do I Qualify?

    Owning your own Ventura South West home is closer than you think. For a quick and easy way to work out your home loan options, and borrowing capacity, simply fill out some key details – and our inhouse finance team will do the rest!

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