Many people believe that you must have a 20% deposit to buy a home. But that’s not entirely true! Here’s what you need to know:

**Low Deposit Loans:** Some lenders accept as little as 5% deposit, making homeownership more accessible.

**Lenders Mortgage Insurance (LMI):** If your deposit is below 20%, you may need to pay LMI, but this can be added to your loan instead of upfront costs.

**First Home Buyer Schemes:** Government grants and schemes can help reduce or even eliminate LMI for eligible buyers.

**Guarantor Loans:** If a family member guarantees part of your loan, you may be able to buy without needing a big deposit.

Waiting to save a 20% deposit can take years—and in that time, property prices may rise. Sometimes, getting in sooner with a smaller deposit makes more financial sense.

Email us at info@flourishfinance.com.au to find out how you can get started today!

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Want to explore your options? Let’s chat! I can guide you through low deposit loans, grants, and the best strategies to get you into your dream home sooner.