Low deposit loans

Enter the property market sooner with flexible options requiring minimal upfront investment.
High-LVR options, such as deposit loans, LMI, and guarantee schemes.
If this sounds like you:
  • Don't have a full 20% deposit
  • May not have access to the Bank of Mum & Dad
  • Finding that property prices are growing too fast to save up 20%
  • Want to get on the property ladder now
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Interested? It's easy with Felix

1. Free assessment
Tell us what you're looking for and we'll compare loan options from more than 40 lenders.
2. Understand your options
Your dedicated mortgage broker will walk you through the low deposit options that suit your situation.
3. Stress-free approvals
We handle the paperwork and negotiations, keeping you updated every step of the way to approval
4. Lifelong loan support
We stay on-top of your LVR, property valuation & the loan market, and let you know when better deals come up!

Overview

With skyrocketing Aussie house prices, many first home buyers find that a standard residential mortgage, which requires a 20% deposit, doesn't work for them.

The standard low-deposit alternative in the past has been LMI, but there's now a wider range of options for first home buyers to boost their ability to buy, and we can talk you through them.

Depending on the option, you may be able to buy with a deposit of less than 20%. The Australian Government 5% Deposit Scheme lets eligible buyers purchase with a 5% deposit (2% for single parents) without paying LMI, Help to Buy has a minimum 2% deposit, and a family guarantee may reduce the deposit you need further.

Interested in learning how to get on the property ladder without spending years renting and saving? Our team provides free assessments, so you can understand which options suit you.

Loan options

First Home Guarantee Scheme

Australian Federal Government scheme allowing eligible first home buyers to purchase with as little as 5% deposit without paying LMI.
See guide

Regional First Home Guarantee Scheme

Similar to the First Home Guarantee Scheme, but specific to regional parts of Australia. Includes major regional metros, such as Geelong, Sunshine Coast, Gold Coast, Newcastle, Wollongong, and more.
See guide

Lender's mortgage insurance (LMI)

Lender's Mortgage Insurance protects the lender if you default, allowing you to buy with less than 20% deposit in exchange for an upfront fee.
See guide

Deposit loans

An alternative to LMI, in which you get a loan for your deposit, and pair this with a separate 80% LVR mortgage. Often has lower upfront costs than LMI, but less providers in the market.
See guide

Guarantor loans

Loans where a family member uses their property as security to help you avoid LMI or secure a higher borrowing power.
See guide

Family Home Guarantee Scheme

Allows single parents and guardians to buy with a deposit of as little as 2% and LMI.
See guide

Deposit bond

Deposit bonds replace cash deposits when buying property, guaranteeing payment at settlement. Perfect for buyers with assets but limited cash, they cost a fraction of the deposit amount.
See guide

LMI waiver

Low deposit loans where the lender waives LMI for certain professions or borrower types.
See guide

Shared ownership

Also called shared equity loans, these loans are where another party (such as the government), contribute towards the property purchase in exchange for equity in the property.
See guide

State government schemes

There are specific state government schemes, typically designed to help first home buyers, or disadvantaged communities, with the deposit hurdle. These include Keystart (WA) and HomeStart (SA). Different types of loans and eligibility criteria exist under these schemes.
See guide

Calculators

FAQs

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A house and land package lets you combine a vacant land purchase with a construction loan, for a single, streamlined purchase process.
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Financial freedom is just a call away.
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Felix Finance brokers Mikayla, Cillian and Dassie
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