Apart from guarantor home loans, there are a few other no deposit home loans available:
- Gifted deposit: If your parents or in-laws can gift you a deposit that is acceptable to some lenders.
- Personal loan as a deposit: If you have a high income, clear credit history and no more than $10,000 in existing debt, you can use a personal loan as a deposit.
- Using the equity from another property: If you have equity in an existing property, you can use that as the deposit to purchase another property.
- Self-managed superannuation fund (SMSF): If you have over $150,000 in your super, you can set up an SMSF to buy an investment property. However, you cannot buy an owner-occupier property within your SMSF.
Cheers,