There are four ways mum and dad can kickstart your mark:

1. The Guarantor Home Loan
   If your folks have a home, they can use it as security on your own home loan. It means you’ll pay a much smaller deposit, avoid expensive mortgage insurance and even be able to borrow up to 100% of your new home.
2. The Loan
   Or, your folks can loan you a set sum which you agree to pay back. Although these loans don’t need to be legally documented, it doesn’t hurt. Our tip: Document! Lay out the amount, purpose, term and interest. If only to keep your siblings from kicking up a stink.
3. The Gift
   Better yet? Free money. If your folks are feeling particularly generous, they can gift you a sum you never have to pay back. Think of it like an early inheritance. Home deposits start from $3,000, so if they can rustle up a gift to this effect you’re well on your way.
4. The Resource Pool
   You’re already biologically linked for life, so why not link your assets too? With joint ownership, both you and your folks will share your new home’s title. It means you’ll have greater buying power, the capacity to borrow more and pay off your loan sooner.