Are you eligible for a 5% deposit and No LMI home loan?

Buying your first home is an exciting journey, but it can be hard to know where to start! After all, there are so many things to think about; the area you want to live in, how much you can borrow, what will be your monthly repayment, First Home Owner Grant eligibility, whether you have enough money saved as a deposit?

The biggest hurdle to buying a first home is often saving a deposit. Plenty of banks will let you borrow up to 90% – even 95%, of a property’s value, but when you borrow more than 80% of your home’s value, you’ll be slammed with Lender Mortgage Insurance (LMI); For example, LMI cost if you are buying a $1m house with a $100,000 deposit is around $37,000! This type of cover protects the lender, not the homeowner, and it can be a major upfront expense, which you better off save towards the property.

Check your eligibility

The form should take around 60 seconds to complete

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Your needs are unique so we take the time to understand what’s important to you and what you want from your home loan.

Once we find the most suitable home loan for you, we’ll also complete your loan application and follow it through to settlement, keeping you up to date along the way.

Disclaimer: Interest rate of 5.89% with comparison rate of 6.18% with LVR < 70% | Comparison rate calculated on a $150,000 loan over 25 years with monthly repayments. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Interest rates are subject to change without notice. Interest rates shown are for new loans and do not apply to switches or internal refinances.