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 buying a home sooner, even if you don't have a lot of savings.

What benefits does the Low Deposit Loan offer?

The Low Deposit Loan is designed to help you buy a home in the metropolitan area, with less deposit required upfront.

With the Low Deposit Loan, you can borrow up to 97% of a property value or purchase price, whichever is the lower amount. This means that you could get into a home of your own without needing a large deposit.

Am I eligible?

To be eligible to apply you need to demonstrate that you have savings of $1000 (held for at least 3 months). You must have a clear credit history with no paid or unpaid defaults, court judgments or history of bankruptcy.

The Low Deposit Loan is a good option for first home buyers, or if you are buying your next home. It can also be suitable for refinancing.

The Low Deposit Loan is available in metropolitan areas only. For other options that require less upfront deposit, see HomeStart’s Graduate Loan.

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 variable rate plus 1% p.a. The Low Deposit Loan is not available in regional areas.