Home Loan Deposit Calculator
Work out how much deposit you need for a home in Australia, including the 20% needed to avoid lenders mortgage insurance (LMI), plus upfront costs.
A 20% deposit avoids lenders mortgage insurance, but many buyers purchase with 5–10% plus LMI, or use a guarantor or the First Home Guarantee to buy with less. A broker can map the cheapest path for your savings.
- ✓Budget ~5% on top for stamp duty, legals and inspections
- ✓Genuine savings history (lenders often want 5% saved over 3+ months)
or from $669/week over 5 years , indicative finance
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A 20% deposit lets you avoid lenders mortgage insurance (LMI), which can add thousands to a low-deposit loan. On top of the deposit, budget around 5% of the price for stamp duty, conveyancing and inspections.
Pricing reviewed: June 2026.
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Understanding home loan deposits in Australia
A 20% deposit lets you avoid lenders mortgage insurance (LMI), which can add thousands to a low-deposit loan. On top of the deposit, budget around 5% of the price for stamp duty, conveyancing and inspections.
You don’t always need 20%, first home buyers can use the First Home Guarantee to buy with as little as 5% and no LMI, or use a family guarantor. Each path has trade-offs a broker can explain.
Frequently asked questions
How much deposit do I need to buy a house?
20% of the price avoids LMI, but you can often buy with 5–10% plus LMI, or 5% under the First Home Guarantee. Add ~5% for upfront costs.
What is LMI?
Lenders mortgage insurance protects the lender (not you) when your deposit is under 20%. It’s a one-off cost added to low-deposit loans.
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