Wave goodbye to renting forever
Spend less upfront to become a homeowner
Your questions, answered.
Just like a bank or any other home loan provider, OwnHome looks at:
- The area you are buying in
- Your total savings and if they are sufficient to cover your upfront costs
- Your income and employment status
- Other standard personal and financial details
Your repayments depend on a couple of things, including the price you buy your home, the contribution you make and the length that you’re with OwnHome, but the concepts are the same.
Some aspects of the loan include:
- To unlock your 20% deposit and a dedicated Buyer's Agent, it’s a straightforward 2% payment (+GST) on the value of your home.
- While no deposit contribution is required, customers who contribute 5% or more will receive discounts on their repayments and have the ability to capitalise the Starter Fee.
- Once you’ve got your home loan, you’ll make the repayments as normal to that lender. Your loan is your choice, so whether you want an offset, a fixed, variable or split rate, it’s up to you.
- You’ll also make principal and interest payments on your OwnHome deposit as part of your loan term.
To get a more personalised and comprehensive overview of the costs, check your eligibility. If you're eligible, a team member will be in touch to go over all of the payment information.
OwnHome works with a growing panel of lenders. You will still need to get approval for your 80% home loan.
It is! As part of your upfront payment, you get the full support of our licensed and experienced Buyer’s Agent team.
- Property hunting and shortlisting homes
- Building and pest inspection reports and strata reports
- Our support and expert guidance every step of the way
- Full reign of a custom OwnHome tool to make the home-finding journey a breeze.
Here's what can't be included:
- Stamp duty and other government fees and taxes
- Third-party costs (things like title insurance)
We’re an Aussie company founded in sunny Sydney that works across Australia. We’re funded by the might of CBA’s X15 Ventures, Square Peg and many others.
We’re led by a trusted leadership team with a track record of delivering successful and innovative customer solutions.
We partner with the most trusted banks, non-bank lenders and mortgage specialists in Australia. But don’t just take our word for it. Our customers have given us the highest rating of 4.9 stars on Google Reviews.
Yes, OwnHome Services Pty Ltd is a corporate authorised representative (#547794) of Allied Financial Consulting Pty Ltd, Australian Credit Licence number 393845.
No! You don’t need to pay Lender's mortgage insurance (LMI) with OwnHome. We’re officially LMI-free!
What's LMI? As a quick answer, Lender's mortgage insurance (LMI) is an insurance that protects the lender in case you default on your mortgage. It's paid by the borrower and is usually required when the size of your deposit is less than 20% of the purchase price. Depending on the value of your home, LMI can add tens of thousands in upfront costs to your home purchase. With a Deposit Boost Loan from OwnHome, you don’t need to worry about paying LMI as you’re topped up to a 20% deposit.