No Deposit Home Loans Are Real And Here Now
No deposit home loans are available in many areas. If you are renting a MaxiLife no deposit home loan may be a better option for you. If you are a rent-investor no deposit home loans are a great option. Rent is after all dead money at the end of the day.
No Deposit Home Loans Are About Getting Your Foot In The Door
I’m sure you’d agree the best time to have bought a house in Australia was five years ago? At MaxiLife we are about getting you into the market.
Owning your home is one of the biggest determinants of wealth in your future. Renters are far more likely to retire in poverty, especially if they are single women!
At MaxiLife we work with a number of for profit and not for profit groups to get you off the rental merry go round. No deposit home loans might start in a couple of ways;
- Buying an investment property: Yes we have investment properties that you can buy without a deposit just to get you into the marketplace so you can take advantage of tax deductions and capital gains.
- Buying a home to live in: Because we develop and market properties nationwide we can work with you to get you into your first home.
- Sharing the equity: You might buy your home or investment property by sharing part of the capital gains with an investor.
- Vendor Finance: Many current owners of properties have equity in them that is excess to their needs. In fact they may save money by financing all or part of your purchase.
Where Can I Get Help With No Deposit Home Loans?
State Governments Have Programmes To Help You With No Deposit Home Loans
First Home Owner Grant : General Information
The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation.
Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria.
Vendor Finance and No Deposit Home Loans
Vendor finance is simply no deposit home loans where the vendor lends you all or part of the purchase price. The interest rate, if any, is negotiable between you and is contracted by a mortgage exactly the same as if you borrowed the money from a bank.
Why would an owner finance your purchase?
There are many reasons that people will lend you money and they pretty much all boil down to profit. There are exceptions to that for instance MaxiLife Achievable cooperative Housing has a mission to help solve the affordable housing crisis and its associated charity MaxiLife Properties Australia is a not for profit charity with similar aims.
So in our case we want to make property affordable for tenants and home owners we also want to design communities that are “representative” and have a mixture of people in them. Of course a major part of our mission is to supply housing to key workers the Nurses Police Firemen and other essential services that make our communities work.
No deposit home loans is a specialist area and you should talk to an independent adviser about your specific needs. Click on the link and we will be right back to you.
So don’t wait another five years and end up in the same spot!
Register below and we will contact you ASAP.