U1st Realty: No or Low Deposit Home Loans - a Step by Step Guide

No Deposit really means no genuinely saved deposits over a minimum period of 3 months. A U1st Realty No Deposit Home Loan comprises of a Deposit Loan that is sufficient to cover the minimum deposit required by the bank to qualify for a traditional Home Loan, PLUS sufficient to cover all the fees associated with purchasing a new home. The more you can contribute, the less you will have to borrow for your deposit!


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Step 1. Qualifying Criteria for Our No to Low Deposit Home Loans Program

  • Clean credit history as shown on your Equifax Credit Report 
  • Total taxable household gross income of $100,000 or more
  • One applicant must carry a full-time employment status of at least 3 months
  • Must be a Citizen or Permanent Resident of Australia. 

U1st Realty and our partners IR Homes & RedCap Finance Brokers are geared towards helping families and first home buyers achieve home ownership. 

Click Here to Find Out Now If You Qualify

Step 2. Assessment of your Borrowing Capacity

To satisfy our first criteria you will have to complete our Online Assessment Form, so our finance team can determine your Maximum Safe Borrowing Capacity.


Should you have any inquiries at this step of the process, please  do not hesitate to contact us direct on (07) 3102 44 77.

Step 3.  FREE Assessing of your Information

Following the verification of your credit information and should you meet our qualifying criteria, U1st Realty will work with our broker partners to ascertain the price range for suitable No Deposit Home Solutions.

This now means that you can move forward with the selection of homes from our range of home ownership solutions that meet your qualifying criteria.

Step 4. U1st Realty Homes Service Fee

U1st Realty offers a unique project management and assistance program that primarily supports Australians with clean credit histories and high incomes in achieving home ownership without a large deposit. However, we have also assisted many people with some blemishes on their credit history as well

Our professional team have perfected this process ensuring an efficient service. Our professional service fee of $1,650 (including GST) is payable following your meeting of the criteria to qualify to buy a new home on your chosen lot of land. This service fee is payable upfront and is  non-refundable due to the amount of work that is required to put these deals together.

Step 5.  Selecting your House and Land Package

All our house and land packages come with fixed price contracts. We strongly recommend that any modifications be done after you have moved in so as to keep the price of the contracts down during the initial build period.

All colour selections are decided by our interior and exterior designer so as to bring the best out of the estate. With U1st Realty what you see is what you get - a beautiful family home to call your own.

Please Remember - This is your FIRST HOME not your DREAM Home!

Step 6. Payment of Holding Deposit

Once you have selected the house and land package of your choosing you will be required to pay a holding deposit of $1000 to $5,000 to the land developer so as to reserve the lot. This fee is completely refundable should you decide against moving forward with your purchase.

Step 7. House & Land Contracts

Once we receive the holding deposits and our service fee, we will let the land developer know that you are interested in holding the particular block of land. We will also facilitate communication with our builders and ensure that the correct legal documents are submitted to their solicitors.

For purchases in Queensland we will be able to sign contracts before your bank loan has been approved. This contract will hold a 21-28 days finance clause that will enable us to facilitate your borrowed deposit and home loans.

 A copy of your Contracts will be sent to your nominated conveyancer / solicitor to assist you with understanding the documents, and to help you with the transfer of the land title into your name.

Step 8. Preparing Your Paperwork

At this stage, U1st Realty's brokers will begin collecting all your supporting documentation and paperwork. Now is the time to prepare your paperwork and gather evidence of your employment, income, assets, liabilities and expenses.

You are also required to provide your driver's license or another form of identification, a rental ledger, recent pay slips, tax returns and bank statements.

Step 9. Speak with our Nominated Mortgage Broker

A U1st Realty preferred mortgage broker will be in touch with you to begin the bank loan process. We will share all information that has been collated through earlier stages of the process with the broker. 

Step 10. Documentation Lodgment to Banking System

Once all supporting documentation is received the broker will lodge a bank application with the lender. Following this there will be a three stage banking process:

Conditional Approval - The bank will base their conditional approval on an individual assessment, taking into account personal information, income and expense detail, and assets and liabilities. The lender will conduct a full income and credit verification check.

Subject Valuation - Now the bank will look at the house and land package of your choosing and produce a property valuation report including property information, rates, size of land, physical building details on construction, condition reports on the dwelling, and information on comparative sales in the area.

Unconditional Approval - Depending on your lender's requirements, lenders mortgage insurance allows for you to borrow up to 95% of the purchase price of your new home with a lower deposit than is usually required. This can help in reducing upfront costs as the lenders mortgage insurance premium will be added into the total loan amount. Following the mortgage insurer's assessment the applicant will receive a formal approval.

Step 11. Formal Mortgage Approvals

At this stageU1st Realty preferred brokers is ready to provide formal approval on the deposit loan. We will facilitate the loan documentation being sent to purchasers and get those signed off for you. The mortgage lender will also be ready to send all loan documentation to the purchaser at this stage.

Step 12. Settlement of Land

This stage will incur a solicitor's fee of approximately $1500 due at land settlement and payable by the purchaser.

Step 13. How Much Stamp Duty do I Pay and When?

Details differ as to stamp duties in accordance to state. First home buyers are exempt from stamp duty in both New South Wales and Queensland.

For non-first home buyers in Queensland stamp duty is paid in proportion to the land.  A solicitor will need to go through this with each purchaser individually.

Step 14. Construction Contract and Commencement of Building

By this stage you would have signed a land and construction contract and paid a 5% deposit on the build contract. Your builder would have lodged your building application with the appropriate council and once the land settles, the builder will be ready within a three week period to commence with the pouring of slab.

U1st Realty prides itself on their ability to project & manage the whole process from start to finish. We liaise with all parties involved to ensure the perfect home for you and your family. 

Make an appointment or enquire online to start this process today!

Call: (07) 3102 4477 or 1300 8178 73 today.



Low Deposit Loans

How do 95% LVR home loans work?

Low deposit home loans work by giving you a home loan with a minimal required deposit (typically 5% of the loan value). Typically, the lender can approve a loan amount of up to 95% of the property value. This percentage is referred to as the loan to value ratio (LVR). In order to get a home loan with a low deposit approved, some lenders may require you to have equity in another property or have a guarantor. This is someone (usually your parents or other close family member) whose property is used as the security for the loan in case you default. Typically with these loans, the fees and charges tend to be higher because of your lack of deposit and security.

Things to consider about 5% deposit loans

 A 95% home loan sounds great for those who don’t have a deposit ready, but there are some things to keep in mind before applying for one.

Aside from the property deposit itself, there are other payments you will need to make, such as stamp duty and Lender's Mortgage Insurance (LMI). This means that typically you will need to provide more than 5% of the initial property value for your deposit. It’s important to keep this in mind when forming your 5% deposit.

Also, remember that borrowing more money means your repayments will be much higher than a comparable loan with a larger deposit. This is because you’re borrowing a larger amount of money so you will owe more interest. As mentioned, this type of home loan tends to attract higher fees as well to compensate for your deposit and risk.

You must also keep in mind the interest you will have to pay. The more money you borrow, the more interest you will have to pay on your loan amount. Interest can be quite a large cost to bear over the life of a loan.

Finally, you need to consider if you can afford this kind of home loan.

You will be required to make monthly repayments and if you can’t save up enough for a deposit, making repayments may also be a struggle for you.