Are you ready to step into homeownership but struggling to save for a large deposit? Don’t let a high upfront cost stop you from buying your dream home! At Ingenious Finance, we specialize in low deposit home loans in Canberra, helping first-time buyers, investors, and self-employed individuals secure a home loan with as little as 5% deposit.
With our expert guidance and access to multiple lenders, we ensure you get the best mortgage solutions, competitive interest rates, and low or no Lender’s Mortgage Insurance (LMI). Whether you’re buying your first home, an investment property, or refinancing, we are here to simplify the process and get you pre-approved quickly.
What is a Low Deposit Home Loan?
A low deposit home loan allows borrowers to buy a property with a deposit lower than the standard 20%, often as low as 5% of the property’s purchase price. This helps first-time home buyers and other borrowers enter the market sooner without waiting years to save a large deposit.
How It Works:
Traditional home loans require a 20% deposit – For example, on a $600,000 property, you would need $120,000.
With a low deposit home loan, you may only need 5% – That’s just $30,000 instead of $120,000!
Some options even allow you to avoid paying Lender’s Mortgage Insurance (LMI), saving you thousands.
With Ingenious Finance, we help you explore low deposit home loan options, secure the best deal, and maximize government incentives to make homeownership easier.
Who Can Benefit from a Low Deposit Home Loan?
Low deposit home loans are ideal for:
First-Time Home Buyers – Enter the property market without waiting years to save a large deposit.
Investors – Expand your property portfolio with minimal upfront costs.
Self-Employed Borrowers – Secure a mortgage with flexible income verification options.
Families Using a Guarantor Loan – Get help from parents or relatives to avoid a high deposit.
Professionals Eligible for LMI Waivers – Certain professions qualify for low or no LMI loans.
If you fit into one of these categories, contact our mortgage specialists today for a free consultation!
Ways to Buy a Home with a Low Deposit in Canberra
Even with a small deposit, there are multiple pathways to buying a home affordably:
First Home Loan Deposit Scheme (FHLDS)
The Australian Government’s First Home Loan Deposit Scheme allows eligible first-home buyers to purchase a home with just a 5% deposit, while the government acts as a guarantor for the remaining 15%.
Avoid paying Lender’s Mortgage Insurance (LMI), saving thousands of dollars.
Available for new and existing homes.
Strict eligibility criteria apply – We help you check if you qualify!
Family Guarantor Loans
If you don’t have a full deposit, a close family member (parent or guardian) can use their home equity as security to help you buy a home without a large deposit.
Allows first-home buyers to enter the market sooner.
Eliminates or reduces the need for a cash deposit.
Helps secure a lower interest rate and avoid LMI costs.
LMI Waiver for Professionals
Certain professionals, such as doctors, accountants, lawyers, and engineers, can qualify for a waiver on Lender’s Mortgage Insurance (LMI), even with a deposit of less than 20%.
Borrow up to 90-95% of the property value without LMI.
Significant savings on upfront costs.
Only available for specific professions – Ask us if you qualify!
Government Grants & Stamp Duty Concessions
If you are a first-home buyer, you may be eligible for government assistance, including:
First Home Owner Grant (FHOG) – A one-time grant for first-time buyers purchasing a new home.
Stamp Duty Exemptions & Concessions – Pay less or no stamp duty, reducing your upfront costs.
First Home Super Saver Scheme (FHSSS) – Use your superannuation savings for a home deposit.
At Ingenious Finance, we help you apply for these grants and concessions, ensuring you maximize your savings.
Benefits of Choosing a Low Deposit Home Loan in Canberra
Choosing a low deposit home loan through Ingenious Finance offers multiple advantages:
Enter the property market sooner – Stop renting and start building equity.
Save thousands on LMI – Access options to reduce or eliminate Lender’s Mortgage Insurance.
More affordable homeownership – Secure competitive interest rates and flexible repayment terms.
Flexible loan structures – Choose from fixed, variable, or split-rate loans.
Maximize government incentives – Utilize grants, schemes, and stamp duty discounts.
Expert mortgage advice – Get personalized guidance to make informed financial decisions.
Why Choose Ingenious Finance for Your Low Deposit Home Loan?
At Ingenious Finance, we simplify the home loan process, ensuring a smooth and stress-free experience:
We compare multiple lenders – Ensuring you get the best deal for your financial situation.
We handle all paperwork – From applications to approvals, we take care of everything.
We provide expert advice – Helping you choose the right loan tailored to your needs.
We secure fast approvals – Helping you move into your new home sooner.
We offer ongoing support – Even after loan settlement, we’re here to help with refinancing and more.
Whether you’re a first-time buyer, investor, or refinancing your mortgage, our experts at Ingenious Finance are here to assist you every step of the way!
Take the First Step Towards Homeownership Today!
Don’t let a small deposit hold you back from buying your dream home in Canberra! With Ingenious Finance, you can secure a low deposit home loan with ease and confidence.
