Low Deposit Loan

Not sure if you have enough money saved for a home loan?

HomeStart's Low Deposit Loan could be the solution to help you on your way to home ownership sooner, even if you don't have a lot of savings.

What benefits does the Low Deposit Loan offer?

The Low Deposit Loan was designed to address the needs of people on a low to moderate income who may not have sufficient funds to purchase a home.

The Low Deposit Loan allows you to borrow up to 100% of a property value or purchase price, whichever is the lower amount. This means that you may not actually need a deposit to achieve your dream of owning your own home.

Am I eligible?

To be eligible to apply you need to demonstrate that you have savings of $1000 (held for at least 3 months) or provide evidence of at least 12 months satisfactory rental history. You must have a clean credit history with no paid or unpaid defaults, court judgements or history of bankruptcy. You could then be on your way to reaching that rewarding goal of owning your own home.

Tell me moreHow much can I borrow?

Terms, conditions and eligibility criteria apply. Fees and charges are payable. The interest rate that will apply for the first 12 months of the loan is HomeStart's standard rate plus 1% p.a. Deposit requirements may vary in some regional areas.