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No deposit

Has anyone used a no deposit home loan? Where the first home owners grant etc is used instead?

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Answers (3)

We are building now and used the $25000 home builders grant, no deposit doesn't "really" mean no deposit at all, you use the grant as your deposit, we also needed a further $8000 to make the bank happy, plus $1000 for conditional deposit on the land.

Some have no deposit loans but you have to pay fees first which can be a lot !

Only get the grant now if your building brand new and you have to have so much of your house built before you get it

 That's not true. You get it as soon as the loan is approved and the contract is signed.
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 ^^I doubt that you would get it until the contract is unconditional...
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