Re: What are my no deposit home loan options?
Posted: Thu Apr 25, 2019 4:04 pm
Hi Sawyer,
Welcome to the forums.
You have quite a few options to receive a no deposit home loan through some of our lenders. You can use:
- Guarantor home loans: You can borrow up to 90-105% of the property value if your parents act as guarantor by securing the loan on their property.
- Gifted deposit: You could even use a gift from your parents as the deposit. You will have to provide a signed gift letter from your parents.
- Personal loan: This option is only available to borrowers in a strong financial position so it may not be applicable to your situation. You also still need some funds of your own to cover stamp duty and other expenses.
- Use your superannuation: If you have over $150,000 in your superannuation fund, you can set up a self-managed superannuation fund (SMSF) to buy a property.
To find the best no deposit home loan option for your situation, speak with one of our specialist mortgage brokers by calling on 1300 889 743 or fill in our free assessment form.
Cheers,
Otto
Welcome to the forums.
You have quite a few options to receive a no deposit home loan through some of our lenders. You can use:
- Guarantor home loans: You can borrow up to 90-105% of the property value if your parents act as guarantor by securing the loan on their property.
- Gifted deposit: You could even use a gift from your parents as the deposit. You will have to provide a signed gift letter from your parents.
- Personal loan: This option is only available to borrowers in a strong financial position so it may not be applicable to your situation. You also still need some funds of your own to cover stamp duty and other expenses.
- Use your superannuation: If you have over $150,000 in your superannuation fund, you can set up a self-managed superannuation fund (SMSF) to buy a property.
To find the best no deposit home loan option for your situation, speak with one of our specialist mortgage brokers by calling on 1300 889 743 or fill in our free assessment form.
Cheers,
Otto