No Deposit home loans have become unavailable in Australia in 2009
Home purchasers and investors alike are now able to choose from a wide range of no deposit home loan options available from most banks and lenders.
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NSW First Home Buyer 100% No Deposit Example
|
| Property purchase price |
= $300,000
|
| Costs for this purchase |
= $2,700 |
| Maximum loan size |
= $300,000 |
| Loan to Value Ratio |
=100 percent |
| Mortgage Insurance |
=$7,800 |
| First Home Owners Grant |
=$7,000 |
| Total Required |
=$310,500 |
| Total Available |
=$307,000 |
| Extra cash required |
=$3,500 |
|
Please note: All figures are approximate only
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Another option for a no deposit purchase is shown in the equity guarantor table
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NSW Buyer 105% No Deposit Example
|
| Property purchase price |
= $300,000
|
| Costs for this purchase |
= $1,500 |
| Maximum loan size |
= $315,000 |
| Loan to Value Ratio |
=105 percent |
| Mortgage Insurance |
=$9,500 |
| NSW Stamp Duty |
=$10,191 |
| Total Required |
=$321191 |
| Total Available |
=$315000 |
| Extra cash required |
=$6,191 |
|
Please note: All figures are approximate only
105% no deposit home loans are unavailable at present.
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More information about a no deposit home loan is available at the No Deposit Home Loan website and at the Ability Finance broker website
|
NSW Buyer 106% No Deposit Example*
|
| Property purchase price |
= $300,000
|
| Costs for this purchase |
= $1,500 |
| Maximum loan size |
= $318,000 |
| Loan to Value Ratio |
=106 percent |
| Mortgage Insurance |
=$8,200 |
| NSW Stamp Duty |
=$10,211 |
| Total Required |
=$319911 |
| Total Available |
=$318000 |
| Extra cash required |
=$1,911 |
|
Please note: All figures are approximate only
106% no deposit home loans are unavailable at present.
|
No Deposit Home Loan website has much more detailed information specifically regarding no deposit home loans.
