Get started with as little as $4K*
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 $4K* 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!
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 $4K* 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.
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
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.