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)
How we estimate this
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: October 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.
Are you a mortgage broker?
Everyone on this page is working out what home loan deposit costs because they are ready to hire. Put your business right beneath the calculator, in your state, so you are who they find. From $1,000/mo.