First Home Buyers with Non Genuine Savings 95% Home Loan Option

There is an option available to first home buyers with non genuine savings to borrow up to 95 percent of the purchase price and capitalise the mortgage insurance premium.

Use the first home owners grant for your deposit. Use a gift for your deposit or a combination of the grant and a gift.

All applicants must have a clean credit file and stable employment and residential history.Read more

95% Home LoansRead more

• Yes there are still options.
• Yes the criteria is strict
• Zero defaults on your credit file
• Stable employment
• Stable residential history
• Owner occupier only

Further to our post below, St George Bank, one of the pioneers for the no deposit home loan in Australia, has announced a withdrawal from the no deposit home loan market.

Unlike RAMS last week who emailed us the announcement 2 minutes after the cut off time for new applications St George have announced a cut off date for new no deposit home loans next month early in April.Read more

If you have been thinking about purchasing a home and have no deposit

Dont wait another second!

We are seeing lenders exiting the no deposit home loan market on a daily basis and options are running out.

Even with the few remaining options left (Edit: there aren't even a few options left now) it is becoming increasingly difficult to meet what is now required for many applicants and no deposit home loans have become totally unavailable for many prospective home buyers in Australia.Read more

Effective 1 January 2009 the Suncorp No Deposit Home Loan Product will be withdrawn

Suncorp's new maximum loan to value ratio, LVR will, be 95% + lenders mortgage insurance, LMI, capitalisation