Low Deposit Home Loans
If you're looking for a way into the housing market, a low deposit home loan could be your ticket to home ownership. Compare home loans that only require a 10 percent deposit or less in the table below.
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If you're looking for a way into the housing market, a low deposit home loan could be your ticket to home ownership. Compare home loans that only require a 10 percent deposit or less in the table below.
Saving up enough money for a first home deposit requires a lot of commitment, but that doesn’t mean it’s impossible. That’s why a low deposit home loan which requires a deposit of just 10 per cent or less could be the best solution to help first home buyers achieve their home owning dreams faster.
You sure can. Whether you’re looking for a low deposit home loan in QLD, SA, WA or VIC, NSW the NT or Tasmania, applying online is a piece of cake. Once you’ve picked the low deposit home loan that looks best to you, simply hit the blue Go to site button or green Enquire now button on the right hand side and you’ll be directed to the lender.
Lenders mortgage insurance (LMI) is an upfront cost you’ll generally be required to pay if you choose to take out a home loan with less than a 20% deposit. It’s a trade off for buyers meaning you can put down a lower deposit while lenders have insurance against loans which are often considered riskier. The cost of this insurance is usually added to your home loan and paid back over time with your home loan repayments.
Owner Occupier, Principal & Interest
3.69% p.a. variable
3.73% p.a.
$1,250 BONUS WITH AN ELIGIBLE NAB HOME LOAN BANKING BUNDLE*. Low ongoing rate. Free extra repayments and redraw facility. Only 5% deposit and no annual or monthly fees.
$0.00
$350.00
yes - free
yes
no
3.69% p.a. variable
3.73% p.a.
$600
95.00%
$20,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
3.59% p.a. variable
3.61% p.a.
Discounted rate for the life of the loan. A relationship manager to help you through the application process. Start with a 10% minimum deposit.
$0.00
$300.00
yes - free
yes - free online
no
3.59% p.a. variable
3.61% p.a.
$150
90.00%
$50,000
$7,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, LVR<90%, 300k+
3.87% p.a.
fixed 3 years
4.02% p.a.
Receive 20,000 Velocity Points for every $100,000 drawn at settlement. Access a 100% offset account to save on interest.
$10.00 monthly
$320.00
yes - up to $10,000 per annum
no
yes - 1 year fixed term only
3.87% p.a.
fixed 3 years
4.02% p.a.
$150
90.00%
$300,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
LVR 90-95%, Owner Occupier, Principal & Interest
4.08% p.a. variable
4.09% p.a.
Borrow up to 95% of the property value. Free 100% offset account. No ongoing fees.
$0.00
$300.00
yes - free
yes - free
yes
4.08% p.a. variable
4.09% p.a.
$0
95.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
LVR<90%, Owner Occupier, Principal & Interest
3.79% p.a. variable
3.80% p.a.
No monthly account keeping fee. $0 ongoing annual fee. Make additional repayments anytime. Only 10% minimum deposit.
$0.00
$350.00
Yes - free
first redraw per month free
no
3.79% p.a. variable
3.80% p.a.
$0
90.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
3.72% p.a. variable
4.12% p.a.
Experts Choice - Australia's Best Customer-Owned Banking & Home Lender of the Year 2018. Only a minimum 10% deposit.
$395.00 yearly
$0.00
yes - free
yes - free
yes
3.72% p.a. variable
4.12% p.a.
$0
90.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
3.65% p.a. variable
3.66% p.a.
No Loan Establishment Fee, annual or monthly account keeping fees. Enjoy the flexibility of being able to make unlimited extra repayments without penalty. Borrow up to 90% of the property value.
$0.00
$500.00
yes - free
yes - free
yes - partial up to $15,000 maximum
3.65% p.a. variable
3.66% p.a.
$195
90.00%
$100,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
3.69% p.a. variable
4.08% p.a.
Only 10% minimum deposit. Benefit from 100% loan offset. Redraw any extra funds whenever you like, with no withdrawal fees!
$349.00 yearly
$100.00
yes - free
yes
yes
3.69% p.a. variable
4.08% p.a.
$295
90.00%
$750,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
3.79% p.a.
fixed 3 years
4.66% p.a.
Experts Choice - Home Lender of the Year 2018. Only 5% minimum deposit.
$395.00 yearly
$0.00
yes - free up to $25,000 p.a.
yes - free
no
3.79% p.a.
fixed 3 years
4.66% p.a.
$0
95.00%
$5,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Owner Occupier, Principal & Interest
4.39% p.a. variable
4.78% p.a.
$0 application fee & Free extra repayments. Borrow up to 95% of the property value.
$395.00 yearly
$350.00
yes - free
yes - free
yes
4.39% p.a. variable
4.78% p.a.
$0
95.00%
$250,000
$749,999
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Details Close
Want more? Compare all 505 home loans in the Mozo comparison engine.
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Views, news, tips and guides to help find the home loan for you.
In Australia, the standard down payment that you need when purchasing property is 20%. This means that if you are buying a property for $500,000 you would need a deposit of $100,000. Now, saving up a $100,000 deposit is no walk in the park and would take most people several years to achieve.
An alternative option to saving the deposit upfront is to take out a low deposit home loan. These home loans will only require you to have a deposit around 5 -10% instead of the required 20%. In home loan terms this is often called the LVR, or loan to value ratio, so if you have a 10 percent deposit your LVR will be 90%.
In recent years (post GFC) the lending criteria for home loans has been tightened so it is no longer possible to get a no deposit home loan. Even 5% deposit home loans are becoming rarer so if you are planning on purchasing property it is a good goal to aim for at least having a 10 percent deposit.
Bankwest's rates are very competitive and they have great service.
Read full review
Bankwest's rates are very competitive and they have great service.
Less
Reinhard | Tasmania
reviewed 4 days ago
Probably not the best rate.
Read full review
Probably not the best rate.
Less
Dario | Queensland
reviewed 4 days ago
Due to the age of my husband we are trapped with this mortgage. They have increased the monthly...
Read full review
Due to the age of my husband we are trapped with this mortgage. They have increased the monthly fee to $20 - up from $10. We had to take out car insurance with them to get a discount rate but still not the cheapest in the market.
Less
Tracey | Queensland
reviewed 4 days ago
