{"id":9549,"date":"2024-11-01T23:49:12","date_gmt":"2024-11-01T23:49:12","guid":{"rendered":"https:\/\/www.nerdwallet.com\/au\/?page_id=9549"},"modified":"2024-11-06T23:18:34","modified_gmt":"2024-11-06T23:18:34","slug":"renting-owner-occupied-loan","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/au\/home-loans\/renting-owner-occupied-loan","title":{"rendered":"Renting Your Home With An Owner-Occupied Loan"},"content":{"rendered":"\t<div class=\"c-block-table-of-contents nw-table-of-contents wp-block-table-of-contents \">\n\t\t<div class=\"c-block-table-of-contents__table-wrapper \">\n\t\t\t<h2 id=\"jump-to\"  class=\"c-block-table-of-contents__title\">Jump to<\/h2>\n\t\t\t<ul class=\"c-block-table-of-contents__links\">\n\t\t\t\t<li class=\"c-block-table-of-contents__link\"><a href=\"#is-there-a-penalty-for-renting-your-home-if-you-have-an-owner-occupied-loan\">Is there a penalty for renting your home if you have an owner-occupied loan?\u00a0<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#changing-your-owner-occupied-loan\">Changing your owner-occupied loan\u00a0<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#what-to-consider-before-making-the-switch\">What to consider before making the switch<\/a><\/li>\t\t\t<\/ul>\n\t\t\t<div class=\"c-block-table-of-contents__show-more--wrapper\">\n\t\t\t\t<span class=\"c-block-table-of-contents__show-more\">\n\t\t\t\t\t<label class=\"show-more-label\" for=\"c-block-table-of-contents__show-more\">Show more<\/label>\n\t\t\t\t\t<label class=\"hide-more-label\" for=\"c-block-table-of-contents__show-more\">Show less<\/label>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\n\n\n<p class=\"\">Unless you have the right\u00a0<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/types-of-home-loans\">type of mortgage<\/a>, using your home as a rental property could lead to penalties from your lender as well as other tax issues. Here\u2019s what you should know about staying compliant before charging rent.<\/p>\n\n\n\n<h2 id=\"is-there-a-penalty-for-renting-your-home-if-you-have-an-owner-occupied-loan\"  class=\"wp-block-heading\">Is there a penalty for renting your home if you have an owner-occupied loan?&nbsp;<\/h2>\n\n\n\n<p class=\"\">Yes, you can face a penalty if you have an owner-occupied loan and decide to rent out your entire home. However, you can avoid issues by working with a lender or <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-a-mortgage-broker\">mortgage broker<\/a> to change your current loan into an investor home loan.&nbsp;<\/p>\n\n\n\n<p class=\"\">This is because\u00a0<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/home-loan-lenders\">lenders<\/a>\u00a0generally consider investment properties to have a higher risk, so investment loans don\u2019t usually get the same\u00a0<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-do-home-loan-interest-rates-work\">interest rates<\/a>\u00a0as owner-occupied loans. If you break your mortgage contract by renting out your owner occupied home, you may attract penalties from your lender which could also lead to a fall in your\u00a0<a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/what-is-a-good-credit-score\">credit score<\/a>.\u00a0<\/p>\n\n\n\n<p class=\"\">The Australian Taxation Office (ATO) also requires that any rental income be declared; failure to do so can result in fines and charges. Or even a legal investigation in severe cases where the ATO suspects fraud.<\/p>\n\n\n\n<div class=\"wp-block-group has-background-yellow-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"\"><strong>\ud83e\udd13 Nerdy Tip<\/strong><\/p>\n\n\n\n<p class=\"\">If you intend to rent out your entire property, you must contact your lender to switch your loan and notify the ATO of this change.<\/p>\n<\/div>\n\n\n\n<h3 id=\"renting-a-room-vs-the-entire-property\"  class=\"wp-block-heading\">Renting a room vs. the entire property&nbsp;<\/h3>\n\n\n\n<p class=\"\">One way to earn <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/passive-income\">passive income<\/a> while maintaining an owner-occupied loan is to rent a room in your home to a tenant while you continue living there. This approach can satisfy the lender&#8217;s requirements without <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/switch-home-loans\">switching<\/a> to an investment loan.<\/p>\n\n\n\n<p class=\"\">However, rental income must be declared on your tax return, and renting part of your property may affect your eligibility for the <a href=\"https:\/\/www.ato.gov.au\/tax-and-super-professionals\/for-tax-professionals\/prepare-and-lodge\/tax-time\/tax-time-toolkits\/tax-time-toolkit-for-investors#Capitalgainstaxandthemainresidenceexempt\">Capital Gains Tax (CGT) main residence exemption<\/a> when you sell. Keep records of income and receipts for deductible expenses to meet tax obligations.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE: <\/strong><a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/owner-occupied-vs-investment-loan\">Owner-occupied to an investment loan<\/a><\/p>\n\n\n\n<h2 id=\"changing-your-owner-occupied-loan\"  class=\"wp-block-heading\">Changing your owner-occupied loan&nbsp;<\/h2>\n\n\n\n<p class=\"\">If you decide to change your an owner-occupied loan into an investor loan, there are a few steps to consider first.<\/p>\n\n\n\n<h3 id=\"make-sure-you-can-afford-a-switch\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Make sure you can afford a switch<\/h3>\n\n\n\n<p class=\"\">Investor home loans often come with higher interest rates, which will increase your <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-mortgage-repayments-work\">repayments<\/a> as <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-a-variable-home-loan#:~:text=and%20five%20years.-,What%20is%20a%20typical%20variable%20home%20loan%20rate%3F,for%20home%20loan%20interest%20rates.\">rates rise<\/a>. You\u2019ll likely also face additional costs, like property management fees, potential renovations, and higher living expenses.<\/p>\n\n\n\n<h3 id=\"refinance\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Refinance<\/h3>\n\n\n\n<p class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/refinancing-home-loan\">Refinancing<\/a> is the process of paying off your existing loan and replacing it with another. You will need an investor loan if you want to rent out your entire property. You can refinance with your current lender or <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/choosing-a-lender\">choose a new one<\/a> with better interest rates or other attractive <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/home-loan-features\">loan features<\/a>.<\/p>\n\n\n\n<p class=\"\">When you meet with your lender, they will review your options, and you\u2019ll need to provide proof that you no longer intend to live in the property, such as a rental contract where you intend to live, utility bills addressed to you at another location or formal ID with another address.<\/p>\n\n\n\n<h3 id=\"update-your-address-with-the-ato\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Update your address with the ATO<\/h3>\n\n\n\n<p class=\"\">You should also update your main residence with the ATO <a href=\"https:\/\/www.ato.gov.au\/individuals-and-families\/tax-file-number\/update-your-tfn-registration-details\/update-your-personal-contact-details\">using MyGov, by phone or by post.<\/a> This is to ensure transparency with the ATO about which property is generating assessable income and which is your main residence.&nbsp;<\/p>\n\n\n\n<h2 id=\"what-to-consider-before-making-the-switch\"  class=\"wp-block-heading\">What to consider before making the switch<\/h2>\n\n\n\n<h3 id=\"interest-rates-and-rent\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Interest rates and rent<\/h3>\n\n\n\n<p class=\"\">When you switch from an owner-occupied loan to an investor loan, you will likely pay a <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-do-home-loan-interest-rates-work\">higher interest rate<\/a>. You\u2019ll also need to set a rental rate that covers your mortgage costs and other expenses while still making some profit.<\/p>\n\n\n\n<h3 id=\"vacancies\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Vacancies<\/h3>\n\n\n\n<p class=\"\">Tenant turnover and vacancies are inevitable. Unless you only plan to rent a room, you\u2019ll need to assess whether you can <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-much-can-i-afford-to-borrow-for-an-investment-property\">afford your investment property<\/a> without rental income, especially during long-term vacancies.<\/p>\n\n\n\n<p class=\"\">If you rent out the entire property, you\u2019ll also need to decide whether to <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/rent-vs-buy\">buy or rent<\/a> elsewhere. This could mean either juggling dual housing costs or <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-rentvesting\">rentvesting<\/a> (living in a rental while earning income from an investment property you own).<\/p>\n\n\n\n<p class=\"\">Whatever you choose, ensure it\u2019s an option your <a href=\"https:\/\/www.nerdwallet.com\/au\/personal-finance\/how-to-budget\">budget<\/a> can handle without depending entirely on steady rental income.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE: <\/strong><a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-much-rent-can-i-afford\">How much rent can you afford?<\/a><\/p>\n\n\n\n<h3 id=\"ongoing-costs\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Ongoing costs&nbsp;<\/h3>\n\n\n\n<p class=\"\">As an investor, you have to budget for expenses such as:&nbsp;<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\">council and water rates<\/li>\n\n\n\n<li class=\"\">building insurance<\/li>\n\n\n\n<li class=\"\">landlord insurance<\/li>\n\n\n\n<li class=\"\">body corporate fees<\/li>\n\n\n\n<li class=\"\">land tax<\/li>\n\n\n\n<li class=\"\">property management fees (if you use an agent)<\/li>\n\n\n\n<li class=\"\">repairs and maintenance costs.<\/li>\n<\/ul>\n\n\n\n<p class=\"\">These expenses can add up quickly, so it\u2019s essential to plan accordingly to avoid<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-mortgage-stress\"> mortgage stress<\/a>.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE: <\/strong><a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/investment-property-costs\">Costs to know when buying an investment property<\/a><\/p>\n\n\n\n<h3 id=\"tax-deductions-and-gearing-strategy\"  class=\"wp-block-heading\" style=\"font-style:normal;font-weight:300\">Tax deductions and gearing strategy<\/h3>\n\n\n\n<p class=\"\">Investors may qualify for tax deductions that can help offset some of the ongoing costs of property ownership. It\u2019s important to understand which <a href=\"https:\/\/www.ato.gov.au\/businesses-and-organisations\/income-deductions-and-concessions\/sharing-economy-and-tax\/renting-out-all-or-part-of-your-home\/income-and-deductions-for-renting-out-your-home\">expenses are deductible<\/a> and how to declare them to the ATO correctly.<\/p>\n\n\n\n<p class=\"\">Furthermore, consider your investment strategy. Choosing options such as <a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/interest-only-home-loan\">interest only loans<\/a> and deciding between positive gearing (where rental income exceeds expenses) or negative gearing (where expenses exceed rental income, potentially reducing taxable income) will influence your cash flow and tax outcomes.<\/p>\n\n\n\n<div class=\"nwb-authors nwb-authors__footer wp-block-nerdwallet-blocks-authors-card\">\n\t<div class=\"nwb-authors__wrapper\">\n\t\t<h4 id=\"about-the-author\"  class=\"nwb-authors__title\">\n\t\t\tAbout the Author\t\t<\/h4>\n\n\t\t\t\t\t<div class=\"nwb-authors__content\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\">\n\t\t\t\t\t\t<img\n\t\t\t\t\t\t\tclass=\"nwb-authors__image\"\n\t\t\t\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/11\/Aaron-Bell-150x150.jpg\"\n\t\t\t\t\t\t\twidth=\"120\" height=\"120\"\n\t\t\t\t\t\t\talt=\"Aaron Bell photo\"\n\t\t\t\t\t\t\/>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t<div>\n\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\">\n\t\t\t\t\t\t<strong>Aaron Bell<\/strong>\n\t\t\t\t\t<\/a>\n\n\t\t\t\t\t<div class=\"nwb-authors__bio\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<p>Aaron Bell is a journalist originally from Brisbane, Australia. With a passion for promoting financial wellness, Aaron prides himself on breaking down complex topics into clear, concise content. He has&hellip;<\/p>\n\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\" title=\"Read more about Aaron Bell\">\n\t\t\t\t\t\t\t<span>Read more about Aaron Bell and explore their articles<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n<\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 id=\"dive-even-deeper\"  class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-7422\" class=\"c-block-card post-7422 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-home-loan-basics cluster-home-loan-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/living-in-private-rental\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2024\/04\/private-rental-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Living In A Private Rental: What To Know\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"living-in-a-private-rental-what-to-know\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/living-in-private-rental\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tLiving In A Private Rental: What To Know\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Renters may enjoy having a streamlined relationship with a private landlord, but before signing a lease, consider the pros and cons of living at a private rental.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/11\/Aaron-Bell-150x150.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Aaron Bell<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-7422 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-6917\" class=\"c-block-card post-6917 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-home-loan-basics cluster-home-loan-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-a-rental-bond\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2024\/03\/rent-bond-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"What Is A Rental Bond?\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"what-is-a-rental-bond\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/what-is-a-rental-bond\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tWhat Is A Rental Bond?\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Beyond weekly payments, one of the largest costs associated with renting is likely your rental bond.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/11\/Aaron-Bell-150x150.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Aaron Bell<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-6917 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-7632\" class=\"c-block-card post-7632 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-shopping-for-home-loans cluster-buying-a-house-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-negotiate-home-loan-interest-rate\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"244\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/income-protection-e1721673874467-460x244.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"How To Negotiate A Better Home Loan Rate\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"how-to-negotiate-a-better-home-loan-rate\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/how-to-negotiate-home-loan-interest-rate\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHow To Negotiate A Better Home Loan Rate\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Know what competitors are offering, ensure you meet all eligibility criteria, and enlist the services of a mortgage broker, if necessary.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/alan-hartstein\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2022\/10\/Alan-Hartstein-portrait-40x40.jpeg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Alan Hartstein<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-7632 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-8110\" class=\"c-block-card post-8110 page type-page status-publish has-post-thumbnail hentry content-classification-home-loans topic-rental-properties cluster-investment-property-basics\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/do-you-need-a-deposit-for-an-investment-property\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2024\/07\/GettyImages-1056502202-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Do You Need a Deposit For an Investment Property?\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"do-you-need-a-deposit-for-an-investment-property\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/au\/home-loans\/do-you-need-a-deposit-for-an-investment-property\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tDo You Need a Deposit For an Investment Property?\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>It&#8217;s possible to get an investor loan with a deposit as low as 5% of the purchase price, but you may pay LMI as well as a higher interest rate.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/au\/author\/aaron-bell\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/au\/wp-content\/uploads\/sites\/3\/2023\/11\/Aaron-Bell-150x150.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Aaron Bell<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-8110 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>If you have an owner-occupied loan and want to rent your home, you\u2019ll need to change to a new type of loan, or you could face a penalty.<\/p>\n","protected":false},"author":4,"featured_media":9550,"parent":171,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/article-sidebar.php","meta":{"_acf_changed":false,"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":"[]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","_nw_pros_cons_block_schema":""},"content-classification":[7],"topic":[280],"cluster":[341],"pp_author":[246],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is 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