What does a 100% bond mean?
A 100% bond removes the need for a deposit, as the home loan is 100% funded by home loan repayments.
In most cases, a home loan requires a deposit of at least 10%. Not with a 100% home loan.
The downside is that 100% home loans have higher repayments and interest rates.
But by removing the need for a deposit, they remove a major obstacle for first-time homebuyers.