Get into the South West for less with a low deposit home loan.
Whether you’ve been renting for a while or you’ve owned a home before, low deposit home loans are a perfect way to get the home that you always wanted much sooner. Start reaping the benefits of life in the South West and owning your own home right away, instead of waiting for years to save up a large deposit.
Who’s eligible for a low deposit home loan?To be eligible for a low deposit home loan, you’ll need to meet a number of requirements. Here’s the basics you’ll need…
- To be 18 years or older
- To be an Australian citizen or permanent resident
- To have a stable income
Ready to get started?
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.
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.