OwnHome Deposit Boost Loan – Your Pathway Back Into the Market

The OwnHome Deposit Boost Loan is a private finance product designed to help you secure a 20% deposit. Instead of spending years saving, this loan gives you the upfront funds you need to meet the deposit requirement. The Deposit Boost sits alongside your standard home loan, ensuring you borrow with a full 20% deposit from day one.

This loan is particularly useful for:

First Home Buyers who do not qualify for the First Home Buyer Schemes, or who have an option for a Security Guarantor.

Renters who have previously owned property but no longer qualify for first-home buyer schemes.

Individuals seeking to purchase an investment property often lack the necessary equity or cash savings.

Buyers who don’t meet the criteria for the Government Guarantee scheme.

Not suitable for:

Construction loans or house-and-land packages.

Buyers who already have access to guarantor loans or sufficient equity.

• Avoid LMI: Boosting your deposit to 20% can save you thousands in LMI costs.
• Accelerated market entry: Buy now instead of waiting years to save.
• Broader eligibility: Available to buyers who don’t qualify for government deposit schemes.
• Investor-friendly: Enables entry into the investment market without relying on existing equity.

Pros:

• Immediate pathway into the property market.
• Helps investors and repeat buyers excluded from government schemes.
• Avoids long saving periods while property prices rise.

Cons:

• Additional loan repayments alongside your standard mortgage.
• Interest costs on the Deposit Boost loan may be higher than those on a traditional mortgage.
• Not available for land and construction (house and land packages)

Property values often rise faster than people can save. Waiting years to build a deposit can mean paying more for the same property later. For investors, missing opportunities to enter the market early can delay wealth-building.

The OwnHome Deposit Boost Loan bridges this gap, giving buyers a fair shot at securing property today rather than tomorrow.

Returning renter: You previously sold a home and are now renting and want to buy again. Although you don’t qualify for the Government Guarantee, the Deposit Boost still covers 20% of your upfront deposit.

Investor with no equity: You want to purchase an investment property but don’t have cash or equity. The Deposit Boost allows you to borrow without paying LMI.

Depending on your situation, you may also consider:

• Guarantor loans – using family equity to secure your deposit.
• Government schemes – such as the First Home Guarantee or Family Home Guarantee.
• Traditional savings strategies – pairing disciplined saving with an offset account.
• Co‑Ownership - buying a property with family or friends 

This type of loan isn’t mainstream and comes with unique considerations. As your mortgage broker, I’ll:

• Assess whether the Deposit Boost is the right fit for your goals.
• Compare lender options and repayment structures.
• Explore alternatives like guarantor support or refinancing pathways.
• Build a strategy that balances affordability, flexibility, and long-term wealth creation.
• Explore all options to avoid common mistakes.