Own Your First Home Sooner with a Low Deposit Home Loan – Melbourne Experts at Ingenious Finance
Dreaming of owning a home but worried your deposit isn’t enough? At Ingenious Finance, we help first-time buyers and growing families secure low deposit home loans in Melbourne—even with as little as 5% deposit.
Whether you’ve saved a small amount or have access to a guarantor, our mortgage brokers guide you through the process of buying a home with minimal upfront savings. We make it easier for everyday Australians to get into the market sooner, without unnecessary delays or stress.
What is a Low Deposit Home Loan?
A low deposit home loan allows you to borrow up to 95% of a property’s value—meaning you only need a 5–10% deposit instead of the standard 20%. In some cases, this loan can be combined with the First Home Loan Deposit Scheme or a guarantor loan to help you avoid costly Lenders Mortgage Insurance (LMI).
Who is Eligible for a Low Deposit Home Loan?
You may qualify if:
- You’re a first home buyer or upgrader
- You have stable employment and a regular income
- You have saved at least 5% of the property value
- Your credit history is in reasonable standing
- You meet lender-specific eligibility (we’ll help you check this)
Not sure if you qualify? We offer a free pre-assessment to find out where you stand and how soon you can buy.
Why Choose Ingenious Finance for Low Deposit Home Loans?
As trusted mortgage brokers in Melbourne, we work for you—not the banks. Our goal is to help you secure a home loan with the lowest deposit possible, tailored to your situation.
Here’s how we help:
- Compare 40+ lenders offering low deposit loan products
- Identify government grants and first home buyer schemes
- Structure your loan to reduce or avoid LMI
- Provide step-by-step guidance from pre-approval to settlement
- Support you even after settlement
Home Buying with Low Deposit: What You Can Expect
Step 1: Initial Consultation
We understand your goals, budget, and borrowing power.
Step 2: Lender Matching
We compare low deposit options from dozens of lenders and explain your best-fit solutions.
Step 3: Application & Approval
We manage all paperwork, lender communication, and approvals on your behalf.
Step 4: Ongoing Support
Even after settlement, we’re here to assist with loan reviews and refinancing when the time is right.
FAQs – Low Deposit Home Loan Melbourne
Q1. Can I really buy a home with just a 5% deposit?
A: Yes! Many lenders allow borrowing up to 95% of the property value. We help you qualify for these loans and assess any additional costs like LMI.
Q2. What is Lenders Mortgage Insurance (LMI)?
A: LMI protects the lender (not you) if you default on the loan. It’s often required if you borrow more than 80%, but we help you explore ways to reduce or avoid it.
Q3. Do I qualify for the First Home Guarantee Scheme (FHBG)?
A: Possibly. This scheme allows eligible first home buyers to buy with just 5% deposit and no LMI. We’ll check your eligibility and assist with the application.
Q4. Can my parents be a guarantor?
A: Yes! A family guarantor can help you borrow more or avoid a deposit altogether. We help structure guarantor loans safely and strategically.
Q5. What’s the difference between a low deposit loan and no deposit loan?
A: A low deposit loan requires some savings (usually 5–10%). A no deposit loan typically involves a guarantor or use of equity in another property.
Q6. How do I improve my chances of approval with a low deposit?
A: Good credit, stable income, and genuine savings help. We guide you in presenting a strong application, even with a small deposit.
Get Pre-Approved for a Low Deposit Home Loan in Melbourne Today
Stop waiting and start planning. At Ingenious Finance, we make home ownership possible—even with a small deposit. Our team is here to help you every step of the way with honest advice, expert support, and access to Melbourne’s most flexible lenders.
