No deposit home loans & 100% home loans product information

As of midnight 9th April 2009 no deposit home loans were withdrawn from the market. There are now no lenders on our panel that offer 100% home loans. To borrow 100% of a property price a guarantor is required. The guarantor needs to own a property and have sufficient equity in it. If you don't have a guarantor the maximum you may now be able to borrow, as at 16th April 2009, is 97% of the purchase price. Please note though that in order to borrow 97% of the purchase price you will be required to have 'genuine savings' of at least 3% of the purchase price if you are a first home buyer or 5% if you are not a first home buyer. This page is in the process of being updated. In the meantime if you have a guarantor or you are interested in a 97% home loan please contact us on 1300 66 12 11 or visit our contact us page.

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Once you have read the information below please move on to step 2 of our no deposit home loan qualification process, the eligibility checklist, to find out whether you might qualify for this type of home loan. For information on the interest rates and fees please don't hesitate to call us on 1300 66 12 11.

No Deposit Home Loans matrix

Product Name	No Deposit Home Loan	No Deposit Home Loan (zero mortgage insurance payable) Please note this loan has been withdrawn until further notice.
Genuine Savings required	No genuine savings required. Grants and gifts can be used to assist for costs (e.g. stamp duty)	No genuine savings required. Grants and gifts can be used to assist for costs (e.g. stamp duty)
Loan Size	Minimum $50,000 Maximum $750,000	Minimum $50,000 Maximum $750,000
Available in	See our acceptable location list	See our acceptable location list
Loan to Valuation Ratio (LVR)	Up to 100% of purchase price	Up to 100% of purchase price
Repayments	Weekly, fortnightly or monthly (monthly only for interest only loans)	Weekly, fortnightly or monthly (monthly only for interest only loans)
Available for	PAYG employees and Self employed borrowers (income must be fully verified)	PAYG employees and Self employed borrowers (income must be fully verified).
Interest Offset account	Available for variable rate loans only	Available for variable rate loans only
Redraw	Available	Available
Loan Term	Up to 30 years	Up to 30 years
Construction loans	Available	Available
Investment purposes	Yes - See below	Yes - See below
Other	Can be used for investment purposes but the applicant must have at least $100k in net assets (property, cash and shares) or 20% equity in their own home (minimum equity value is $50k). This lender can consider lending up to 100% of the purchase price against CBD units and studio apartments as little as 25sqm in size on a case by case basis.	Product withdrawn from sale until further notice. Can be used for investment purposes but the applicant must have at least $100k in net assets (property, cash and shares) or 20% equity in their own home (minimum equity value is $50k). No mortgage insurance, mortgage risk fee or loan equalisation fee is payable therefore reducing the amount required upfront to purchase a property. Please call 1300 66 12 11 for more information on this new no deposit home loan option. This lender can consider lending up to 100% of the purchase price against CBD units and studio apartments as little as 25sqm in size on a case by case basis.

If you are purchasing a property in NSW and are looking for a conveyancer that offers a mobile service and a very competitive price please visit the Jenkins Conveyancing website.

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Once you have read the information on this page move on to step 2 of the no deposit qualification process, the eligibility checklist.


No deposit home loans matrix	Eligibility Checklist	No Deposit home loan borrowing capacity calculator	Pre-approval form

Bank fees, charges, terms & conditions may be applicable.

* Interest Rates and Fees are subject to change daily.
* All figures are estimates and are a guide only, any additional fees and charges are the responsibility of the applicant(s).
* Loans are approved or declined on their merits by the specified lender and a loan approval is not guaranteed.
* We believe the information in this chart to be correct. However we can give no warranty to this effect and we expressly disclaim any liability for loss or damage by any person acting upon advice contained in this chart.