Hi pedigree,
It is possible to get a no deposit investment loan but it isn't as simple as it once was. You'll have to be creative and be able to meet certain lender requirements to qualify.
The policies are pretty much similar to that for home loans so a guarantor loan is the best way for you to buy an investment property without a deposit. You don’t need a deposit. You don’t need to pay an LMI premium plus there are lenders that may even offer exceptional interest rate discounts.
You can also try going for a 95% investment loan although it requires you to have 20% equity in another property and 10% in genuine savings (some exceptions apply though).
If you would like to know more about these then you can check out our website. We can also be reached on 1300 889 743 or you can fill in our free assessment form to see if you qualify for a loan or not.
Cheers,
Otto
Want an investment loan but can I get with no deposit?
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
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