No Deposit Home Loans

 

No Deposit Home Loans are not what they used to be; a lender will no longer lend you 100% of the purchase price “unless” you have additional security from a guarantor, usually a parent. This is by far the most popular option these days as per our dedicated Guarantor Home loans page here.

The lender can actually lend you the funds for the purchase price, and additional costs. The most popular Guarantor Home loan products will only take a mortgage on the guarantors property (parents) for the amount they need to get to an end LVR of 80%, so the guarantor amount is usually quite small for the parents.

One of the best features of this type of loan is that you do not have to pay lenders mortgage insurance, which can be a huge saving in today’s market of very high property prices.