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Can I buy a property with a $0 deposit?
Bayley Clarke · Mortgage broker on the road · Last checked 11 August 2026 · 3 min read or a 3 min watch
The short answer
Yes, you absolutely can, if you have family willing to go guarantor. The bank takes a slice of their equity as extra security, and you don't need to put down a cent.
And if a guarantor isn't on the table? Then honestly, no. You'll need a real deposit plus stamp duty and costs. I'm not going to pretend otherwise.
Prefer to read? The whole answer is written out below.
The three places a deposit can come from
When I sit down with clients, first home or second, there are really three paths and we check them in order:
- Cash. We see how much you've got available and whether it meets the deposit requirements.
- Equity. If you already own property, we look at how much equity is available to work as your deposit.
- A guarantor. If this one's available, theoretically we don't need to put down any money at all for the next purchase.
It's that third path this page is about, because it's the only genuine $0 deposit route, and most people have no idea how it actually works in the background.
What the bank does in the background
With a guarantor, the bank takes a portion of the equity in your parents' property (or whoever's going guarantor) as additional security. That changes how your loan is treated: even though the loan might be covering 100% of the purchase, or beyond it with stamp duty and costs financed too, the bank treats it like an 80% loan.
Which means no Lenders Mortgage Insurance, and no waiting years to save what property prices keep outrunning. The guarantor isn't handing anyone cash. They're sharing equity on paper while you get in the door. The full mechanics are in my guarantor loans guide.
Why this beats spending your savings anyway
Here's the part I find myself explaining most. If you do have savings set aside, going the guarantor route means you don't have to tie that money up in the property. It stays yours: your emergency buffer kitty, your renovation kitty, whatever your world needs it to be.
You get to play around with how much of your own money goes in, rather than the deposit requirement making that decision for you.
The guarantor isn't on it forever
The two things every parent wants to know before they sign, straight up:
- They're not owners of the property. They're on your loan as a guarantor, nothing more. The place is yours.
- There's an exit, and it's the plan from day one. As soon as your loan is 80% of what the property's worth, we take them off. They sign a form, we discharge their property, and they're completely gone.
Meanwhile you've gotten in years sooner, because you never had to save that deposit while prices kept moving.
Bayley has never disappointed! I've used him for a few years now and he always seems to get the job done. He's supported every crazy idea (and last minute purchases) I've had and ran with it and made sure I got the best deal.
Kara Sheedy · Google review · Repeat client
Got a possible guarantor in the family?
Half an hour and we'll map all three paths: your cash, any equity, and what a guarantor setup would actually look like for you and for them. Bring your parents on the call if you want, I'll answer their questions too.
No application, no credit check, nothing on your file. Just the numbers.
Next question
Can I buy a home with my super?No guarantor on the table? Saving your deposit through super is the next most underrated route.
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How does a guarantor loan actually work? What is the first step to buy your first home? Does my credit card limit affect my borrowing power?Got a question this page didn't answer? Send it to me and it goes on the list.