No Deposit Solutions

All loans, even a no deposit home loan attracts State Government fees and charges. So the minimum deposit you will need is 5% of loan amount. Most lenders will not lend to cover these charges unless you offer extra assets for security.

Examples of ways to get your home:

  • Non-Refundable Gift
  • Use of Equity
  • Sell Junk to Get Home

We got our home with our parent's helpNon-Refundable Gift

We had received a non-refundable gift from our parents to purchase a new house, with no genuine savings over six months we found this could be a major problem and that we might have to wait six months. This was a bad thing for us because the property market was rising, thus purchasing a property in six months would cost us more.


Use Of Equity

I never thought that I could afford to buy an investment property. We have worked hard to save a little bit of money and try to pay our home loan as quickly as possible.

However, with our children getting a bit older, we knew that if we didn't do something now to set up for the future then we would be left behind and our way of life would suffer because of this.

Sold Junk, Got Home

I had been looking at buying a home for a while, but paying for a family and high rent made it difficult to save.

I heard about a loan where you didn't need to save the deposit up, as long as you had enough to pay for the fees and deposit, you could possibly get a loan. We sold one of our cars and some other odds and ends and with the first home owners grant, had enough to get the house!

 

 

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