House deposit calculator: how much do you need?

Use the calculator to compare the property prices your savings could support at 5%, 10% and 20%. It keeps your cash amount fixed and changes the price. If you've already chosen a price, use the deposit table and purchase-budget example below.

You may not need to save 20%. An eligible 5% Deposit Scheme loan, LMI waiver or guarantor home loan can change the cash you need. Compare how each option affects your deposit before treating the calculator result as your savings target.

Enter your available cash and select Continue. The result starts with a 5% deposit, then compares 10% and 20% deposit scenarios using the same cash amount. Open Adjust rate and term on the results screen to change the repayment assumptions.

The tool's field asks for cash before stamp duty and other purchase costs. It does not deduct those costs. To get a more useful estimate, first subtract the costs and reserve you need, then run it again with the amount actually available towards the price.

For example, $80,000 saved less an assumed $20,000 for costs and a reserve leaves $60,000 towards the price. At 10%, that supports a $600,000 purchase. Entering all $80,000 would show $800,000 and leave nothing for those other amounts. Get quotes for your costs; the $20,000 is illustrative.

The calculator shows the purchase price, loan required, loan-to-value ratio (LVR) and an indicative monthly repayment. Its lenders mortgage insurance (LMI) label is a general indication; it does not price the premium or check a waiver or government scheme.

For example, $30,000 gives these estimates at an assumed 6.25% p.a. over 30 years:

These are principal-and-interest examples, rounded to full dollars. The rate is a calculator assumption, not a current lender offer. Fees, LMI, buying costs and future rate changes are excluded. Changing the rate or term changes the repayment, not the purchase price supported by that deposit percentage.

Use how much home can I afford? to assess the wider budget and our mortgage calculator for an initial borrowing estimate. This tool does not check income, debts, dependants, credit history, valuation or scheme eligibility. Its 5% headline is also not a scheme property price cap.

A 20% contribution towards the price generally avoids lenders mortgage insurance. Some buyers can use a smaller deposit through an eligible loan, LMI waiver, government scheme or family guarantee. The amount you need depends on both the lender's requirements and the costs of your purchase.

For an $800,000 home, a 20% deposit is $160,000 before costs. These options can reduce the cash you need to contribute or remove the LMI premium:

These examples exclude stamp duty, legal fees and other buying costs. Keep a cash reserve too. The calculator does not assess a guarantee, confirm a waiver or check scheme eligibility, so its LMI label may not reflect the option available to you.

For the contribution towards the purchase price, multiply the price by your deposit percentage. A 10% deposit on $500,000 is $50,000. Then add the buying costs you must pay and the reserve you want to retain. Subtract only assistance that has been confirmed and will be available when needed.

The deposit paid under your sale contract is usually part of your contribution towards the price, not another deposit on top. For example, if your total contribution is $80,000 and you have already paid $40,000 under the contract, that leaves $40,000 of your contribution to pay at settlement, plus costs and adjustments. Ask your conveyancer to confirm the settlement statement.

These figures are the deposit towards the price only. They do not include duty, fees, LMI or a cash reserve, and they don't confirm loan or scheme eligibility.

You need $40,000 at 5%, $80,000 at 10% or $160,000 at 20%, before costs. For an eligible NSW first home buyer, an $800,000 home can be exempt from transfer duty. In Queensland, the established-home first home concession ends at $800,000, although the ordinary home concession may still apply.

Using QRO's home concession rates checked on 12 September 2026, duty on an $800,000 home is $21,850 where that concession applies. Eligible Queensland first home buyers purchasing a qualifying new home under a contract dated 1 May 2025 or later can instead receive a full concession. These are different eligibility tests from the federal 5% Deposit Scheme.

LVR is your loan divided by the lender's accepted property value. An $80,000 deposit on an $800,000 purchase leaves a $720,000 loan, or 90% LVR if the valuation is also $800,000. A lower valuation or costs added to the loan can increase that percentage. Check it with our LVR calculator.

LMI commonly applies above 80% LVR unless a waiver or alternative applies. It protects the lender, not you. Our LMI calculator provides an indicative premium; request a lender quote before setting your final savings target. Adding LMI to the loan is subject to the lender's total loan and LVR limits and means paying interest on it.

A larger deposit can improve your loan options, but it does not guarantee the lowest rate. I'd compare the premium, interest rate, fees and repayment together. Our LMI waivers guide and 90% loans without LMI guide explain alternatives to check.

Keep a separate allowance for costs that do not reduce the property's purchase price. Get quotes and a settlement estimate rather than adding a fixed percentage and assuming it will be enough.

This hypothetical buyer is planning a 10% deposit. I'd put every cash item in one place before deciding whether their $80,000 savings are enough.

The proposed loan is $630,000 before any financed costs. The buyer is $20,000 short of this cash target, even though $80,000 is more than the 10% deposit. Replace the cost allowance with actual quotes and duty, and choose a reserve that suits your household. Any grant must be confirmed and paid in time.

In Queensland, responsibility for the property usually passes at 5pm on the next business day after the contract date. Confirm your contract with your solicitor and arrange cover in time. Other states and contract types differ. Do not assume insurance starts at settlement.

Our guide to the costs of buying a home helps you build the budget. Any cash grant also needs an eligibility and payment-timing check: it may not be available for the deposit due when you sign. See Queensland's first home owner grant if you are buying or building there.

It is part of your buying budget, but it does not count as your contribution towards the property's price. Some loan structures may let you fund costs through additional borrowing or equity. That still requires sufficient security and repayment capacity; it is not automatic.

Use our Queensland and national stamp duty calculator or NSW stamp duty guide and calculator as a starting estimate. Have your conveyancer check the applicable rates and eligibility against the official rules below.

This summary was checked on 12 September 2026. It covers the main home concessions, not every vacant-land, off-the-plan or foreign-buyer rule. Contract or settlement dates, ownership history and residence requirements matter.

Check assistance before deciding how much more to save. A smaller deposit can bring the purchase forward, but you need to be comfortable with the resulting loan and cash left over.

Eligible buyers can purchase with a minimum 5% deposit and no LMI through a participating lender. There are no income caps or annual place limits. You must meet the age, citizenship or permanent residency, ownership-history, property-price and owner-occupation rules, as well as the lender's credit requirements. The loan generally requires principal-and-interest repayments.

Eligible single parents or single legal guardians with a dependent child can apply with a minimum 2% deposit under the scheme's separate criteria. The government guarantees part of the loan; it does not pay your deposit or take an equity share. You remain responsible for the loan and buying costs.

Read our 5% Deposit Scheme guide and check the price cap for the property's location. The calculator's 5% result doesn't confirm scheme eligibility. Ask the participating lender how much of your available savings must go towards the purchase before deciding what you can retain.

Help to Buy allows eligible buyers to contribute at least 2%, with the government contributing up to 30% for an existing home or 40% for a new home. The government shares proportionally in gains or losses when you sell or buy out its share.

Income, assets, property limits, Australian citizenship and lender approval conditions apply. You must contribute as much as you can reasonably afford and cover buying costs. Our Help to Buy guide explains the current limits and government ownership share. This calculator does not model shared equity, and Help to Buy cannot be combined with the federal 5% Deposit Scheme on the same purchase.

Some lenders offer occupation-based LMI waivers. Your profession, income, registration, property and requested LVR need checking. Our doctor home loan guide and lawyer LMI waiver guide explain examples; a job title alone is not an approval.

A family guarantor may provide additional property security to help cover the deposit gap. You still need to afford the repayments, and the guarantor risks their property if you cannot repay. A guarantee's release needs lender approval. The guarantor should obtain independent legal and financial advice before agreeing. Your cash contribution plus the loan must still cover the price and any costs: a guarantee is security, not money paid towards the purchase.

A family gift can also help, but disclose whether it must be repaid and ask what evidence the lender needs. Buying with someone else may combine savings and income, while creating shared debt and ownership obligations. Read our buying with a partner guide before committing.

Some lenders need evidence that you have built or held part of the deposit over time. Others may accept an eligible rental history or different deposit sources. A gift, inheritance or sale proceeds do not automatically meet every lender's genuine-savings test.

Ask the lender which records it accepts and for how long. A gift, inheritance or released equity may fund a deposit without satisfying a separate savings-history test. Our genuine savings guide covers the documents; Westpac's lending guide gives one lender's wider requirements.

The required deposit depends on the lender, property and your finances. A 20% contribution plus costs is a useful starting comparison because it commonly avoids LMI; a smaller deposit may be available with different pricing or conditions. Do not assume the owner-occupier 5% scheme applies to an investment purchase.

Existing homeowners may be able to use equity to buy another property. Equity can provide security for extra borrowing, but that borrowing adds debt and repayments. It is not free cash, and the lender must approve the valuation and total lending.

A suitable guarantor or equity arrangement may reduce the cash deposit needed. It does not remove approval requirements or the need to fund costs. Grants and joint buying also have limits. Our no-deposit home loan guide explains the options and the situations where more savings are needed.

Check the loan you can afford alongside the savings target. Your income, spending, debts and dependants may set a lower purchase limit than the calculator. A large deposit also cannot make an unacceptable property suitable for every lender.

I'd review credit limits, existing repayments and evidence of regular income before asking you to save more. Reducing a debt may help, but using all your cash to repay it can leave a deposit shortfall. Our affordability guide helps compare those choices without relying on a single income-to-loan multiple.

Subtract your current usable savings from the target, then divide the gap by the months available. For the $20,000 gap in the $700,000 budget example above, that means about $1,667 a month over 12 months, $833 over 24 months or $556 over 36 months, before interest. This is a savings example, not a prediction of future property prices.

Automate an amount you can maintain, keep the deposit separate from everyday spending and review recurring costs. Compare the account's bonus-interest conditions and access rules. Closing credit accounts you no longer use may help the loan assessment, but it does not guarantee a particular credit score or borrowing increase.

Our house-deposit savings guide goes into practical changes. The Barefoot Investor account guide explains one way to separate spending and savings. Allow for essential furniture and moving costs rather than assuming you can spend the entire balance at settlement.

Watch our guide to building your home deposit. Check current eligibility and costs using the written guide and official sources below.

The First Home Super Saver (FHSS) scheme lets eligible buyers use certain voluntary super contributions towards a first home. Up to $15,000 of eligible contributions from each financial year can count, up to $50,000 overall per person, plus associated earnings. Release amounts and tax treatment depend on the contribution type; these are not extra contribution caps or permission to withdraw all your super.

Request an ATO determination and check release and contract deadlines before relying on the money. Allow time for payment. Our First Home Super Saver guide links to the ATO process and explains the conditions.

Compare the extra rent and time needed to save against the larger loan, possible LMI and smaller cash reserve if you buy now. Property prices and rates can move either way. A scheme or waiver may remove LMI, but it does not automatically remove a higher repayment or guarantee a lower rate.

For the same $800,000 property, increasing the deposit from 5% to 10% means contributing another $40,000 and borrowing $40,000 less before costs. That is a different comparison from the calculator's cards, which keep your savings fixed and change the property price.

A lender assessment can help establish a realistic limit before you make an offer. Pre-approval is conditional: the lender still needs to accept the property and confirm any outstanding requirements. It is not a guarantee that every purchase will be financed.

Before bidding at auction, have your finance and the contract reviewed. Auction contracts commonly lack the protections available in a private sale. In Queensland there is no auction cooling-off period. Read our pre-approval guide and buying at auction guide before committing.

Send us your savings balance, the amount you want to keep aside, your target price and suburb, and whether you are buying your first home, moving or investing. We can check the deposit, buying costs, suitable loan options and repayments together.

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Or call 1300 088 065 to discuss your home loan options.

• First home buyer guide: plan your purchase from saving to settlement.
• Negotiating the house price: prepare your offer.
• Home loan features: compare what you need from the loan.
• Extra repayment calculator: estimate the effect of paying more later.
• Paying off your home loan faster: compare ways to reduce interest over time.