Do I qualify for a no deposit mortgage?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Do I qualify for a no deposit mortgage?

Post by Otto Dargan »

Hi greenkiwi,

You can have a crack at our no deposit loan calculator to work out whether you qualify for a home loan without having to provide a deposit. It's quite reliable as the calculator takes into account the purchase price of the property that you are looking to buy and your financial situation as well.

Specifically, the calculator will ask whether you currently own a property in Australia, whether your parents own their own home, what your debt to income to position is and if you have a clear credit history.

Based on this info, we can tell you which no deposit option best meets your needs. If you want to go for a no LMI home loan then note that it only applies to guarantor home loans.

There are a number no deposit options on the market but they are only available through a few specialist lenders. Depending on your situation and needs, you can go guarantor, access equity in an existing property, use a gifted deposit from your parents or even use a personal loan as a deposit.

You can learn more about all this on our website. You can also discuss this in more detail directly with one of our no deposit home loan specialists by calling 1300 889 743 or simply by filling in our short free online assessment form and we’ll call you back to provide a free, no obligation assessment.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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