Can I get an investment loan without any deposit?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
Mortgage Specialist
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Can I get an investment loan without any deposit?

Post by Otto Dargan »

Hi geckolover and welcome to the forum.

It is possible to get a no deposit investment loan but it isn't as simple as it once was. You'll have to be creative and be able to meet certain lender requirements to qualify.

A guarantor loan is the best way for you to buy an investment property without a deposit. With a guarantor,
  • You don’t need a deposit.
  • You don’t need to pay a Lenders Mortgage Insurance (LMI) premium,
  • You could get exceptional interest rate discounts.
You can also try for a 95% investment loan. However, please note that you’re required to have 20% equity in another property and 10% in genuine savings for this(some exceptions apply though).

We can be reached on 1300 889 743 or you can fill in free assessment form to see if you qualify for a loan or not.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Can I get an investment loan without any deposit?

Post by Otto Dargan »

Hi geckolover,

Yes, you can buy an investment as your first property. However, you’ll need to show a stronger financial position than most no deposit home buyers. Although you don’t need to show any savings you should not have too many unsecured debts such as credit cards and personal loans.

First home buyers grant (FHOG) vary between different states. As a general rule first home buyers don’t receive the first home owners grant if they don’t intend to live in the property that they’re buying. However, they may receive the grant at a later date when they do buy a home to live in.

In some states, there are grants for investors who are buying or building a new property which you may be eligible for. Please refer to your state government for more details.

We’re no deposit lending specialists and we have a passion for property investment. We’d love to help you with your next investment so why not complete our free assessment form or call us on 1300 889 743 and find out.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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