No Deposit Home Loan | No Deposit Mortgage

Buy a residential home with nothing down with a no deposit home loan.

No deposit home loans, are now possible through Mr Mortgage. No deposit home loans Applications are flexible fully featured home loans, with low mortgage interest rates. They are designed for first time home buyers with stable employment, but have not saved the deposit or the costs to settle a property transfer.

Which means you can buy a home now, instead of waiting to save the required deposit.

What does a No deposit Home Loan cover?

No deposit home loans will lend up to 100 percent of the home value, as determined by a registered valuer.

What does a No deposit Home Loan not cover?

These costs can include lenders mortgage insurance, your legal conveyance and search costs, your property pest and structural inspections, your property valuations, stamp duties on the mortgage and property transfer, application fees, and lenders legals and documentation fees.

Who are No deposit Home Loans designed for?

Ideally they are best suited to first time home buyers because they can use their First Home Owners Grant to pay their costs to settle. Also first time home buyers may have less to pay in costs because they may be eligible for stamp duty waivers.

Can others apply for a No deposit Home Loan?

Yes. Anyone can apply for a no deposit mortgage. They will have to have funds to meet the costs to complete. These costs can include lenders mortgage insurance, your legal conveyance and search costs, your property pest and structural inspections, your property valuations, stamp duties on the mortgage and property transfer, application fees, and lenders legals and documentation fees.

You can apply for our no deposit home loan on the application below

How it works:

We put you into our prime home loan program, maximum 90% Loan to value ratio.
We get you a 10% deposit personal loan.
We get you passed through mortgage insurance.

Alternatively you can make up the 10%, plus your costs to complete the settlement from other sources, including:

First home owners grant.
Gifts from friends and relatives.
Loans from family
Personal loans.

After 5- 7 years you have:

paid off your personal loan 10%,
paid off a smaller amount of your 90% mortgage.
Gained any growth in equity over the period.
Improved the land, or home to increase its value.
The alternative is to wait till you have saved the deposit. This program is only available to people with good credit, above average earnings and who are easily managing any other credit commitments. It is not for people who are struggling. To apply complete and send the form below.

Apply for a home loan here.

To apply for mortgage finance with Mr Mortgage, please complete and submit this form.
Loan Purpose: Please select the most relevant loan purpose.
Refinance my existing mortgage
Consolidate all my debts into my home loan mortgage
Draw equity out of my home for a new car or home improvement
Buy an established home to live in
Buy an investment property
Construct a new home
Mortgage Minimisation or mortgage reduction

Please complete the following information. Leave blank if not applicable.

Home Price or value
**Deposit saved or equity**
First owners home grant
Gifted deposit
Total deposit
*Loans to consolidate*
*Total loan sought*
*First Name/s*
*Last Name/s*
*Street Address and no*
*City or Suburb*
*State*
Postcode
*Employment type*
Gross taxable income/s
Work Phone
Home Phone
Best time to call
E-mail

How would you self assess your credit rating ... ?
Bankrupt Unpaid defaults Paid defaults Late payments Clear.
Please enter any further info you feel is important in this text box.

Further info:

Please click once to submit your application after checking details and Email as correct.