Qualify for a low rate home loan using the help of your rental history.
- 5% deposit? Borrow up to 95% of the purchase price.
- No deposit? Borrow up to 105% if your parents own a property in Australia.
- Any deposit source is ok including an inheritance, a gift or a loan.
- Bank & non-bank lenders can both help.
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Our award-winning mortgage brokers will find you the right home loan for your situation.
Is this you?
Have you:
- been gifted a deposit from your parents?
- inherited money?
- borrowed money for your deposit (e.g. a personal loan)?
- come across a lump sum of money (e.g. sold your car, tax return, work bonus)?
- been approved for a first home owner’s grant?
Did you know that you may not qualify for a home loan?
Banks require you to demonstrate that you have saved your deposit over a period of 3 to 6 months, which is otherwise known as genuine savings.
With a solid rental history, you can still get a loan!
We have lenders that will consider a rental history letter from your real estate agent in place of genuine savings.
To qualify:
- You must have a deposit equal to 5% plus costs of the purchase price to cover the costs of stamp duty, conveyancing fees and LMI.
- You must currently be renting.
- You can be renting privately or via a licensed property manager (private rentals are case by case and rental history needs to be evidenced by bank transfers).
- The tenants on the lease must be the same as the borrowers on the home loan application.
Yes, you still need a deposit but it can come from anywhere.
You’ll still need a 5-7% deposit but, with a solid rental history, the deposit doesn’t need to be saved over a 3 month period, which is a requirement for all banks.
This is to cover what the banks call “funds to complete” which includes the deposit component as well as associated mortgage costs like stamp duty and solicitors fees.
- Gift: The gift must be in your account and a gift letter must be provided by your parents to confirm that the gift is not a loan.
- First Home Owner’s Grant: Unique policy available through one of our lenders.
- Inheritance
- Cash
- Shares
- Bonus/dividend/commission payment: Provide a payslip evidencing payment and bank account statements.
- Non-real estate asset sale: Provide evidence confirming the details of the asset that you sold. In most cases, this is from the sale of a motor vehicle.
- Tax Refunds: Provide a copy of your Notice of Assessment.
We’ve lent more than $4 billion+ Australia-wide.
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They walked us through the process step by step
We would like to say thank you to Hank from Home Loan Experts for all his help in getting us a guarantor loan.
We were really unsure if we would ever get an approval for a home loan, but Hank immediately knew the right lender to approach for our situation, and made the whole process simple…
We would definitely recommend Home Loan Experts to anyone. Thanks again to Hank and the team from Home Loan Experts for making it possible for us to own our first home.
Ianthe S & Jadobi l, Carina QLD
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A very friendly, professional and helpful team
The team was very friendly, professional, helpful and went out of their way to get the right loan that was suitable for us… I recommend this service for those who find it very hard to purchase a property going directly to a bank. Thank you Home Loan Experts, you have finally given my family and me the opportunity to own a beautiful home.
Denise H, Epping VIC
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A lot smoother and less stressful than having to deal with banks as an individual
Our mortgage broker was very personable and made us feel like he went above and beyond to assist us in getting our home loan. He had a great knowledge of guarantor home loans which set our minds at ease. He was happy to answer any questions even outside business hours and responded in a professional and timely manner. As a second home buyer I would recommend going through the home loan experts as this process was a lot smoother and less stressful than having to deal with banks as an individual. I would especially recommend Hoa to others.
Melissa H & Rhys B, Wynnum West QLD
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Exceeded my expectations in terms of results
Throughout the process I felt confident in knowing I could rely on you and at no stage did I ever feel that trust could be an issue with you. You have exceeded my expectations in terms of results and have done this with very short notice. You are an asset to your company and a role model to your profession… I already have and will continue to recommend your services to friends and family.
Thomas M & Tanya W, Botany NSW
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So easy to speak to no matter how stressful the situation
We are both so grateful to Amine for all of his hard work and great advice over the past year! It’s been such a long journey… We are starting to settle into our new home in Trentham now. It is just so beautiful and relaxing! We really love it and are so happy with our purchase. Amine was right all along – things happen for a reason! Thank you Amine for always being there for us.
Tanya & Andrew B, West Melbourne VIC
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He even made a guarantor loan from our parents seem effortless!
After the roller coaster ride of going cap in hand to the bank manager, only to be turned away… we found Tony. What a refreshing change! Within a 2 week time frame, we had approval and were able to follow the normal approval process to get the loan…. With Tony’s inside knowledge on how lenders think he was able to approach the bank with an excellent case and really put us in a great position in the lender’s eyes…. We recommend Tony and Home Loan Experts strongly and will be using them for our next purchase…
Julie W & Luisa C, Waikiki WA