No Deposit Home Loan

Many Australians dream of owning their own home. But with property prices rising faster than incomes, first home buyers are finding increasingly difficult to raise the traditional 5 to 10 per cent deposit required for a standard home loan.

To help you get into your new home sooner, many lenders now approve loans of up to 100 per cent of the value of a property.

While this can be a good option for some buyers, remember that you still need to save for purchase costs such as stamp duty and conveyancing. And most lenders require you to show a savings history of at least six months.