The 100% home loan is a strong option for first-time homebuyers. It removes the need for a deposit, which many first-time homebuyers find to be the biggest obstacle to buying a home.
Of course, monthly repayments and interest rates will be higher, so it costs more in the long-term, but in the short-term, it’s a way to get a foot in the door and acquire a powerful asset.
Note You can use our Bond Repayment Calculator to determine what your monthly repayments will be on a 100% home loan.
Banks are more likely to grant 100% home loans at the moment as they look to stimulate the property market in the post-lockdown period.
ooba Home Loans has a good relationship with all the major banks and can help you secure a 100% home loan.