HBS Welcome Home Loan Features
Borrow up to $200,000 with absolutely no deposit
Borrow up to $280,000 with a deposit of just 15% of the amount borrowed above $200,000. For example $250,000 would require a deposit of 15% of $50,000. So you'd only need $7,500.
In selected areas you can borrow up to $350,000. This will also require 15% of the amount borrowed above $200,000. For example a loan of $350,000 you will require a deposit of 15% of $150,000. So you'd need $22,500.
The Welcome Home loan is for first home buyers, or 2nd chance applicants (who have owned a home previously, but now cannot re-access home ownership through standard lending). It is not for rental properties. Borrowers must not own any other property.