NO DEPOSIT HOME LOANS FOR FIRST HOME BUYERS
We can help you own your first home sooner
If you’re trying to buy your first home, but the banks or other mortgage brokers won’t talk to you because you don’t have the deposit, you may still be eligible for a no (zero) deposit home loan!
With many homebuyers struggling to come up with the significant deposit required to secure a home loan, it is becoming increasingly difficult to get into a new home. We stress this option may not be for everyone and does come with some extra risks and costs, however, if you really want to own your first home this is definitely an option.
Another method of buying your first home without a deposit is to receive parental assistance, for more information on Parent Guarantor Loans, please click here.
Our experienced No Deposit home loan partners are happy to guide you through the 4 step process. Please note, this option is mainly available for first home buyers looking to buy a brand new First Home Owner Grant (FHOG) eligible home
HOW IT WORKS?
1ST STEP: CONSULTATION
Complimentary consultation with your FHBA Coach to determine eligibility
2ND STEP: FINANCE APPROVAL
Your Zero Deposit Loan expert team will attend to your finance needs and obtain a pre-approval
3RD STEP: SELECTION
Select your desired first home location and dream home design within your budget
4th STEP: CONTRACT
Upon signing the contract your dream home will be ready to build with your selection
WHY FHBA?
INDEPENDENT
We are independent of our partners who provide this service
DIVERSE
We have a range of unbiased options that we can present to you
FLEXIBILE
If you aren’t eligible for a zero deposit loan, we won’t suggest it!
BUY SOONER
This option is great for those wanting to buy a brand new home sooner!
WHY NO DEPOSIT?
CASE STUDY
CASE STUDY
A first home buyer couple Adam and Amy have been renting for 2 years. They are from a country town in Queensland, however, both have moved to the Southern Brisbane suburbs due to work reasons. The couple have been renting at the one home over the last 2 years and have been paying their rent on time, in fact, they have been sometimes paid their rent a few weeks in advance of the due date.
Over the last 2 years Adam & Amy have also purchased a motor vehicle each, as both require a car to do their job. Whilst they bought both cars with finance, they have worked hard over the last 2 years to completely pay off their car loans. Now they have no debts, but Adam and Amy are both keen on calling a home their ‘own’. They understand a deposit is required to buy their first home, however, their circumstances and hard work in paying off their previous debts have meant they have only saved enough to pay for the costs of moving into their first home.
As Adam and Amy have shown a good rental payment and loan payment history they want to see if they are eligible to build a brand new home in the area using the First home owner incentives and/or any builder’s grants. As their budget is around $350,000 they can use the FHOG in QLD of $20,000 (before 30 June 2017) to form part of their deposit as their rental payments have formed part of their genuine savings.
Get started now
Are you interested in one of the loans mentioned above? Or would you like more information on the home loans that are available to you? Simply complete the form below and a first home buyer expert (Broker/Coach) will be in touch with you: