How Much to Deposit Calculator
Work out the deposit you need for the property price you have in mind, including where lenders mortgage insurance starts and stops applying.
Use the how much to deposit calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the how much to deposit calculator tells you
What it shows
Required deposit at different loan to value ratios and the shortfall against your current savings.
What you need
Target property price, your current savings, and your savings rate.
What to do next
First home buyers may qualify for grants or guarantee schemes that reduce the deposit needed.
Three things worth testing
- Budget for stamp duty and legal costs on top of the deposit.
- Below twenty per cent deposit, expect lenders mortgage insurance.
- Government guarantee schemes can remove the insurance requirement for eligible first home buyers.
Frequently asked questions
Do I really need a twenty per cent deposit?
Does the deposit cover all my upfront costs?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362