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No Savings Home Loans

We get how hard it is to save for a deposit when life is so expensive.

Living in Perth isn’t cheap, so no one at Easystart is going to judge you if you haven’t saved a $30K deposit! In fact, that would make you pretty normal in our book.

That’s why we love the No Savings Home Loan. You can have a brand new home with zero savings in the bank. Oh, and we’ll pay your rent while you build.

To find out if you qualify for our No Savings Home Loan, simply complete the form below.

How do No Savings Loans work?

If you don't have save a full 5% deposit, we have alternative solutions to help you out.

With the assistance of our expert in-house finance team, we’ll guide you through the entire process, from figuring out a budget, to securing your perfect house and land package and low deposit home loan. And, we'll make it easy, too!

Low Deposit and No Savings Home Loans are possible from some lenders by allowing the following:

  • First home buyers can use the First Home Owners Grant (FHOG) as a deposit
  • If you’re renting, some lenders will take this as proof that you have the ability to afford a loan
  • Your parents can help with a guarantor loan
  • Using a recent lotto win (one powerball... 😆) or inheritance as a deposit

Do I Qualify?

Complete the form below to find out if you can get into a home of your own!

Your fortnightly income:
Partner's fortnightly income (if you have one):
Savings you have:
Fortnightly repayments (credit card, Afterpay, car loan):

No Savings Home Loans FAQs

  • Can I get a home loan with no savings?

    Yes! There are a number of options available for home buyers who have little to no savings.

    Depending on the amount you need to borrow and your personal circumstances, you may be able to get a home loan through one of the below options:

    1. Applying for the First Home Owner Grant (WA)
    2. Using a guarantor for a home loan
    3. Applying for the First Home Loan Deposit Scheme (FHLDS)
    4. Using a monetary gift (also known as a “gifted deposit”)
    5. Applying for a Keystart loan

    Speak to one of our finance experts who can work with you to determine the best option for your individual circumstances.

  • What is the First Home Owner Grant and how do I apply for it?

    If you’re a first home buyer who is planning to buy or build a new house, you may be eligible to receive up to $10,000 to put towards a home loan.

    For detailed steps on how to apply for First Home Owner Grant (WA), head to the WA Government website.

  • How do I use a guarantor for a home loan?

    A common choice for first home buyers is to use a guarantor – that is, another person who agrees to be legally responsible for paying back your home loan, in case you are unable to in the future.

    Typically, a family member or someone else that’s close to you, who satisfies certain requirements can act as your guarantor by using the equity in their own property as collateral for your home loan.

    A guarantor home loan can also be a way to avoid the cost of lenders mortgage insurance (LMI). It’s a saving that can be worth thousands of dollars.

  • What is the First Home Loan Deposit Scheme (FHLDS) and how do I apply for it?

    The FHLDS is another government incentive where first home buyers can get into their own home with only a 5% deposit.

    If you are eligible for the FHLDS, the government will act as a guarantor for part of your home loan and you can also avoid having to pay for Lender’s Mortgage Insurance (LMI), saving you thousands of dollars in fees.

  • How to use a gifted deposit?

    While some banks will only accept “genuine savings” (money you’ve saved up yourself over a certain period of time) for a home loan deposit, other lenders may accept money given to you as a gift, such as inheritance money.

Additional Resources