AAA Mortgage Solutions

LOW DEPOSIT HOME LOANS

Is the price of rent stopping you saving for your first home?
A low deposit loan could be the solution.

It can be hard to save for a deposit and pay rent at the same time, but it’s possible to get a loan without huge savings.

  • Low deposit home loans let you borrow up to 95% of the value of your new home.
  • If you’re struggling to save enough, there are also other options to secure your loan.
  • We’re here to support you in finding the best possible loan for your situation.

If you’re concerned you don’t have enough for a deposit, come and talk to us. We will assess your situation, discuss your needs, and work out an option that will suit you best.

For many would-be first home buyers, the ongoing cost of their rent can be a barrier to saving a sufficient deposit for their home loan. Many lenders recognise this and are giving first home buyers a lower barrier to enter by offering home loans with lower deposits.

How low deposit home loans work

Low deposit home loans allow home buyers to borrow up to 95% of the value of their new home, as well as up to 2% more to cover the cost of Lenders Mortgage Insurance.

You will still need to have some savings, as well as a stable income to prove you can service the loan.

Other options

There are several other ways to get a loan without a large deposit. Some lenders can also:

  • Recognise regular rental payments as part of your genuine savings requirement.
  • Accept a pledge from a family member which potentially allows you to borrow 100% of the value of your new home.

Getting the right low deposit loan

With numerous low deposit home loans out there, and several other ways to go about securing your loan, it’s important you get what’s best for you, not your lender. At AAA Mortgage Solutions we are highly experienced and have access to a huge amount of lenders, so if you get our help you can be rest assured we are acting in your best interests, and that we know what we’re talking about.

Stay Informed

We place huge emphasis on educating our clients, so that they can be personally confident in their decision. Let us keep you updated with the latest information so you can reach your goals faster.

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If you’re concerned you don’t have enough for a deposit, come and talk to us. We will assess your situation, discuss your needs, and work out an option that will suit you best.

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