100% Home Loans

True 100% home loans are a thing of the past, but you can get a no deposit loan by using a guarantor or being creative with your deposit savings.

Compare mortgages that let you borrow up to 95%

Rates last updated June 17th, 2019
$
Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.59%
3.99%
$0
$395 p.a.
95%
Get interest rate discounts and waived fees on this package loan with a 100% offset account. $500 cashback offer for first homebuyers borrowing over 80% and paying LMI.
3.57%
3.61%
$0
$0 p.a.
95%
A simplified mortgage with a low interest rate and a redraw facility. Approval fee waived for a limited time.
3.74%
4.28%
$375
$15 monthly ($180 p.a.)
95%
A fixed rate home loan with 100% offset account.
3.79%
4.97%
$0
$395 p.a.
95%
Low deposit package loan with a range of discounts. Rebates for eligible refinancers and new borrowers.
3.69%
3.86%
$0
$0 p.a.
95%
This high LVR fixed rate loan allows you to borrow up to 95% of the value of the property you're buying. Approval fee waived for a limited time.
3.79%
5.20%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account when you lock in your rate for one year.
3.90%
5.00%
$600
$10 monthly ($120 p.a.)
95%
Get a 2-year fixed rate with flexible repayment options to help you save.
3.74%
4.22%
$375
$15 monthly ($180 p.a.)
95%
A three year fixed rate loan with 100% offset account.
3.97%
4.34%
$0
$350 p.a.
95%
4.29%
4.48%
$0
$0 p.a.
95%
Borrow up to 95% LVR with no application fee and low ongoing fee.

Compare up to 4 providers

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Most of the loans in the table above allow guarantors to cover at least a portion of your loan. All loans in this table have a maximum LVR between 90% and 95% and some may require at least 5% deposit of genuine savings.

Borrow 100% with a guarantor

Woman and her boyfriend just bought their own house.The only real way to borrow 100% these days is with a guarantor. This is usually a family member who owns their own property and can guarantee your deposit.

You borrow the money and make repayments as usual, but the guarantor is partly responsible if you can't meet your repayments. A guarantor can cover part or all of a deposit or even the loan itself.

Here are the basic things you need to know about guarantors:

  • Eligibility. A guarantor should be a family member over 18 years old who has equity in their property and good credit.
  • Risk. If you default on your mortgage (meaning you can't make repayments) then your guarantor might have to pay up. This could force them to sell their property in order to pay back your lender.
  • Repaying the deposit. If your guarantor only agreed to guarantee a 20% deposit then once you've repaid 20% of the loan they're off the hook even if you default. This helps minimise the guarantor's risks.
  • Avoid LMI. Another advantage of having a guarantor is you can avoid lenders mortgage insurance even though you haven't saved a 20% deposit yourself. This could save you thousands.

Learn more about the ins and outs of guarantor home loans

Can I borrow more than 100%?

Yes. With a guarantor some lenders will let you borrow up to 110% of a property's value.

You can also read more on no deposit borrowing in our longer guide.

Getting a deposit through cash gifts, inheritance or other alternatives

If you can't get a guarantor you could scrape a deposit together from many sources. Lenders do want you to have at least 5% of a property's value in genuine savings, but there is a way around this. You can get a deposit together in the following ways:

  • Your parents could give you money as a gift or you could inherit the money.
  • You could sell an asset, such as shares, to fund your deposit.
  • You could use equity in another property you own.
  • A first home owners grant can count as part of a deposit.

The genuine savings rule is the tricky issue with the options above (and the fact that not everyone can take advantage of gifts or assets). But if money from a gift, sale or inheritance has been sitting in your account for three to six months most lenders will accept it as genuine savings regardless.

The complete guide to saving up a deposit

Get a low deposit mortgage

Lastly, you can save a 5% deposit the old-fashioned way and look for a low deposit home loan. There are many mortgages out there which you can get with a 5% or 10% deposit.

How do you spot a low deposit home loan? Look at the maximum insured loan to value ratio (LVR), which should be 90–95%. A 90% LVR means a 10% deposit. A 95% LVR means you only need a 5% deposit. But don't forget there's lenders mortgage insurance on top.

Start comparing low deposit mortgages

Why won't banks give you a 100% home loan any more?

After the 2008 Global Financial Crisis, Australian banks tightened their lending criteria. Lending someone 100% is considered too risky.

By tightening their lending criteria, banks and lenders were better able to lend to people who could realistically afford to repay their loans.

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Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

Logo for HSBC Home Value Loan - (Owner Occupier P&I)
HSBC Home Value Loan - (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.

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10 Responses

  1. Default Gravatar
    RathanavearyOctober 30, 2016

    I would like to get the !00% home loan information ASAP
    Thank you.

    • Avatarfinder Customer Care
      MayOctober 31, 2016Staff

      Hi Rathanaveary,

      Thank you for contacting finder.com.au we are a financial comparison website and general information service we are not mortgage specialists so can only offer general advice.

      There are still lenders that may offer 100% of the purchase price of a property, provided you will have a guarantor, which lowers your risk as a borrower. You can read further on this page on how a home loan with guarantor works.

      Though it may also be best to reach out to a mortgage broker to discuss the options available for your specific situation.

      Hope this helps.

      Cheers,
      May

  2. Default Gravatar
    gavinFebruary 24, 2016

    Can I get a home loan for 175000 without a deposit

    • Avatarfinder Customer Care
      BelindaFebruary 25, 2016Staff

      Hi Gavin,

      Thanks for reaching out.

      Your ability to qualify for a low deposit home loan will depend on the lender’s eligibility criteria, your income and assets, your credit history and any existing debt or liabilities that you have.

      Above on this page you can compare a range of low deposit home loans with 95% loan-to-value (LVR) ratio to see if there’s one that matches your borrowing needs.

      Alternatively, if you don’t have a deposit then you may want to consider opting for a guarantor home loan to increase your borrowing power. Keep in mind that if you borrow less than 80% LVR for a full documentation loan, you’ll need to pay lender’s mortgage insurance (LMI).

      Thanks,
      Belinda

  3. Default Gravatar
    GTDecember 19, 2015

    I have a fully paid property in overseas. Is there any possibility that I use my overseas property as a collateral to obtain 100% loan for purchasing a property in Australia?

    Many thanks in advance.

    • Avatarfinder Customer Care
      MarcDecember 21, 2015Staff

      Hi GT,
      thanks for the question.

      Generally, Australian lenders will require Australian property as security, as this enables them to be able to sell the property off in the event that a borrower defaults on their loan.

      I hope this helps,
      Marc.

  4. Default Gravatar
    ElizabethDecember 13, 2015

    I would like to buy a home. I am gainfully employed by the NSW Govt have held my position for 22 years.

    I have no guarantor or deposit to buy a home I earn up to 85K per year. Am I able to get 105 home loan, I am so sick of paying rent.

    Thanks Liz

    • Avatarfinder Customer Care
      MarcDecember 14, 2015Staff

      Hi Liz,
      thanks for the question!

      Unfortunately, now after the global financial crisis, lenders in Australia will not lend out more than 95% of a property’s value without a guarantor. This is because loans above 95% are considered to be of a much higher risk than regular loans. You might want to consult a financial advisor to help you get on the path to saving a deposit.

      Sorry I couldn’t be of more help,
      Marc.

  5. Default Gravatar
    carolJuly 3, 2015

    can I get a loan for 100,000 with no deposit from somewhere

    • Avatarfinder Customer Care
      BelindaJuly 6, 2015Staff

      Hi Carol,

      Thanks for your enquiry.

      Some lenders will allow you to borrow 100% of the property price, however this can only be achieved through a guarantor loan, vendor finance or using security from another existing property.

      On this page, you can compare a range of home loans that require little or no deposit in the table provided above. You can also fill out the form to speak with a mortgage broker to discuss your options.

      Kind regards,
      Belinda

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