Springboard turns “I can’t save the deposit” into “I own my home.” Here’s the whole journey, start to finish.
Step 1 — We check you qualify
You share some initial details — income, employment, residency. We’re facilitators, so we take that qualifying information and pass it to our licensed broker team, who provide a preliminary assessment. No documents needed just to get started.
Step 2 — The community fund covers your deposit and costs
This is the part that makes Springboard different. Our community fund — money contributed by community members — covers the deposit and the upfront costs of buying, including legals and stamp duty. That’s the hurdle that stops most people, removed.
Step 3 — The bank loan covers the rest
The majority of the purchase is a standard home loan from an accredited lender, arranged for you through our broker team. So you’re buying a real home, on a normal mortgage, with the fund covering what you’d normally need saved.
Step 4 — You make repayments for five years
You move in and make regular repayments for five years, covering both the bank loan and the fund’s portion. In practice that’s a bit above what you’d pay in rent — except now you’re building toward owning, not paying off someone else’s mortgage.
Step 5 — You refinance and own it
At the five-year mark, the property is revalued. With enough equity built up, you refinance into a standard loan and the community fund is repaid. If the timing isn’t right yet, you can extend for another period or sell — you’re never trapped.
What we are — and aren’t
| We are | We are not |
|---|---|
| Facilitators who check you qualify | A lender |
| A connector to a licensed broker team | A mortgage broker |
| The community-fund arrangement | A financial adviser or planner |
Springboard Homes provides general information only and is a facilitator — not a lender, mortgage broker, financial adviser or financial planner. This is not financial or credit advice. Seek advice from a licensed professional before making any decision.