It is still possible to borrow 100% of the purchase price for a property from a Bank in Australia?
All About Financial Services can help you achieve a 100% no deposit mortgage for your property purchase. We have a long history of experience with the various banking requirements to be eligble for a 100% mortgage.
There are some complexities with the eligibility requirements and the structure of a 100% loan, please call us to discuss your specific situation and banking needs.
How to get a 100% No-Deposit Mortgage
If you have a good job and the capacity to repay your loan, it is possible to get a home loan with no deposit. These loans are referred to as a Family Pledge Loan, a Limited Guarantee Loan, or a Guarantor Loan. For the 100% No-Deposit loan the Bank lends you the full purchase price of the property, and takes a partial mortgage of another property at the same time. Generally the partial mortgage will be over a property owned by a family member, and will be for 20% of the purchase price of the property you are purchasing. It is also possible to take out the partial mortgage against a property owned by an unrelated 3rd party instead of a family member.
First Home Buyer No Deposit Mortgage
It is quite common today for a first home buyer to have a great ability to repay a loan, but not to have saved the necessary deposit. AAFS has a vast experience with this type of lending – we have helped many first First Home Buyers achieve their dream.
Understanding Family Guarantor Liability
When taking out a loan involving a Guarantor who mortgages a portion of their property to enable the loan to proceed, it is critical that all parties understand their responsibilities and the potential liabilities involved. All About Financial Services can assist both the borrower and the guarantor understand their roles in the transaction.
Investing with a No Deposit Loan
How can you buy an investment property when you have no savings, but substantial equity in your your owner-occupied home? The good news is that we at AAFS can show you how to use the equity in your home to enable you to buy an investment property, without having to first come up with a cash deposit.
Tax Effective No Deposit Investment Loans
May people are interested in how to structure a tax effective investment loan with no deposit. The staff at AAFS will show you how you can reduce the interest on your owner occupied home with the rental income that you will receive from your investment property.