No Deposit Home Loan
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 |
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| 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 |
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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 |
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Please note: All figures are approximate only |
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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
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NSW Buyer 106% No Deposit Example* |
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| 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 |
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Please note: All figures are approximate only 106% no deposit home loans may be unavailable at present. |
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No Deposit Home Loan website has much more detailed information specifically regarding no deposit home loans.