Home Loan Deposit Calculator

Supported by Finance Experts

Designed by Carlisle Homes' finance experts, our Home Loan Deposit Calculator ensures accuracy based on current Australian home loan conditions. It provides reliable estimates to guide potential homeowners in planning their deposit and understanding upfront costs.

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How much deposit do I need for a home loan?

The deposit required for a home loan typically depends on the purchase price of the property and the loan-to-value ratio (LVR). A common deposit amount is 20% of the property’s value, but some lenders may accept a lower deposit, which could require lenders mortgage insurance (LMI).

Does the calculator include other upfront costs?

Yes, the Home Loan Deposit Calculator factors in additional upfront costs such as stamp duty, mortgage establishment fees, and lenders mortgage insurance (LMI). Including these costs provides a more accurate estimate of your total deposit and financial commitment.

Can I use the Home Loan Deposit Calculator for investment properties?

Yes, the calculator works for both owner-occupied and investment properties. Simply enter the purchase price and other relevant details, and the calculator will estimate the deposit required based on your property type.

How does the loan-to-value ratio (LVR) affect my deposit?

The loan-to-value ratio (LVR) is the percentage of the property’s value that you’re borrowing. A lower LVR means a higher deposit is required. Most lenders prefer an LVR of 80% or lower, but a higher LVR may require lenders mortgage insurance (LMI).

How accurate are the deposit estimates from the calculator?

The calculator provides a reliable estimate based on your entered information, including property price, interest rate, and loan term. However, it’s essential to consult with your lender for precise figures, as actual requirements may vary depending on the lender’s criteria and market conditions.

Can you get a home loan without a deposit?

Yes, getting a home loan without a deposit is possible, but it's not common. Some lenders offer no-deposit home loans with strict eligibility requirements. Most commonly, a guarantor loan is used, where a family member (typically a parent) provides security by using the equity in their property to guarantee your loan. This allows you to avoid a deposit and potentially avoid lenders mortgage insurance (LMI). However, a no-deposit home loan may come with higher interest rates and additional terms, so exploring all options with a financial expert is important. Read more about a gifted deposit.

What is the minimum deposit for a home loan?

The typical minimum deposit for a home loan in Australia is 20% of the property value to avoid lenders mortgage insurance (LMI). However, many lenders allow borrowers to take out a loan with as little as a 5-10% deposit, although this usually requires paying LMI. First-home buyers may also qualify for government grants or incentives, which can help reduce the deposit required. The larger the deposit, the lower your loan-to-value ratio (LVR), which can help you secure better loan terms and lower repayments.