Secure Your Own Home with a No Savings Home Loan

At Low Deposit Dream Homes, we focus on helping renters break free from the rental cycle. We utilize no or low deposit house and land packages to create tailored homeownership options that require minimal savings.

Our first step is to ensure you’re fully informed about your potential home options. By completing our 'Get Approved Here' form, we can assess some basic details to accurately determine your borrowing capacity. This way, you’ll have a clear understanding of what you can and cannot do, allowing you to make an informed decision about whether to continue renting or take the leap into homeownership.

How do I get a home loan with no savings?

When exploring no savings home loans, you’ll find several options, though understanding how they work can be challenging. Here are some common no savings options provided by traditional lenders include:

• 90% Home Loan

  This is one of the most frequently offered choices. With a 90% home loan, you borrow 90% of the home's purchase price and contribute 10% yourself. While this does require some savings, you can use grants such as the First Home Owners Grant (FHOG) to cover that 10%.

• 95% Home Loan

  As the name implies, this mortgage allows you to borrow 95% of the home's purchase price. Depending on your location, the First Home Owners Grant (FHOG) may cover the remaining amount, although you might need a small amount of savings as well. Typically, these loans also require you to demonstrate a strong rental history.

• 100% Home Loan

  No deposit home loans are no longer available from traditional banks and lenders—unless you have a guarantor. However, at Low Deposit Dream Homes, we can offer no deposit home loans through our specialised no or low deposit home system.

  Understanding your options is crucial when it comes to buying a home with a no savings loan. We collaborate with all major lenders, providing us access to a variety of home loans and mortgages. This enables us to leverage our system, giving renters the chance to enter the market without needing to save the typical 20% deposit most lenders require.

  Discovering your options is easy—just fill out our straightforward 'Get Approved Here' form. Our Low Deposit Dream Home Consultants will then evaluate your situation and explain exactly what you can and cannot do with this system.

How Can I Increase My Odds of Being Approved?

If you're considering a no or low deposit loan, there are several ways to enhance your chances of approval. The great news is that these strategies can also boost your borrowing capacity, even if you're already approved.

A Guarantor

One of the most effective ways to improve your approval odds and potentially lower your interest rate is to have a guarantor. Typically a parent or close family member, a guarantor can secure the entire mortgage or just a portion of it. However, not everyone has access to a guarantor, so this option may not be available for everyone.

Adding Another Applicant

Including another applicant is a great strategy to expand your home buying options. By increasing the total income on the application, you often gain access to a wider range of locations and choices for building your new home.