Special Finance Group
Special Finance Group
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FIRST HOME BUYERS - NO DEPOSIT HOME LOANS - 100% LENDING


The rising property market is proving difficult for First Home Buyers to enter the market. With property prices rising faster than incomes these days, those looking to purchase their first home are finding it increasingly difficult to raise the deposit for a standard home loan. To help you get into your new home sooner, many lenders now offer 'No Deposit' home loans or '100%' home loans that allow you to borrow 100% of the value of the property.
We can also now offer 100% loans for investors!

In some instances lenders even offer 105% products which lend 100% of the property value plus 5% (personal loan) to help cover the costs. This however can increase the cost of your home loan - Conditions apply. If possible we would recommend saving as much as you can to reduce the costs of your new home loan. Most lenders like to see 3 - 5% of the purchase price saved over a period of time.
Remember the First Home Owners Grant will come in handy. Lenders accept this as part of the structure - either to complete settlement or to use as costs. However there are other costs to consider when purchasing your first home: Loan Fees - this includes set up costs and ongoing, Is Mortgage Insurance involved? Government Fees - For Example Stamp Duty, Solicitors Fees, Building and Pest Inspection, Insurance, Moving Costs etc.

If you are looking to enter the property market and have limited savings please do not hesitate to contact our office, as our experienced lending consultants can determine how much you can afford and ease this process that can be somewhat daunting to a first home buyer.

What lenders are looking for in FHB:
  • How much can you afford?
  • How much deposit saved?
  • Savings history?