How to use our home loan deposit calculator
You’ll need to enter the following details about the property you’re buying and your savings profile.
Property value
How much is the property worth?
Target loan deposit
How much are you looking to save for a house deposit? For example, 5%, 10% or 20%?
Your income
What is your income? You can choose from weekly, monthly or annually.
Current savings
How much savings do you have for a deposit?
Savings interest rate
The interest rate if your savings is earning interest, such as with a term deposit or high-interest savings account.
How much can you save per month?
What percentage of your income, or what dollar amount, can you save each month?
Once you’ve entered these details, our mortgage deposit calculator will provide an estimate of the house deposit required. It’ll also show you the estimated stamp duty and other costs, minus your current savings. Our calculator will then show you how long it'll take to save for a house deposit based on your savings goal.
Calculating your home deposit
If you’re on this page, chances are you’ve been browsing the real estate market and have a property or two in mind. To calculate your house deposit, simply divide your savings (deposit amount) by the house value.
- For example, you have $120,000 set aside in your savings for a deposit and the property you have in mind is listed for $600,000
- 120,000 / 600,000 = 0.2
- This means you have a 20% deposit or that your loan-to-value ratio (LVR) is 80% - i.e. you need to borrow 80% of the property’s value
- Tip: Most lenders offer better rates and loan terms for borrowers who have a deposit of 20% or greater
According to Money.com.au borrower data, the average home buyer in Australia in 2026 has a deposit of $173,000 and buys a property valued at $848,000, meaning an average deposit of 20% or, in other words, an LVR of 80%.
Buying property with less than a 20% deposit and calculating other costs
You generally need a deposit of 20% of the property’s value to avoid paying lender’s mortgage insurance (LMI). LMI is a one-time insurance premium that protects the lender if your deposit is less than 20% and you can’t repay the loan. However, you may have other options.
You might be able to buy with a smaller deposit in certain situations. For example, first home buyers can use government incentives like the First Home Owner Grant to help front a deposit. First-time buyers can also use a guarantor, like a family member, who agrees to use their property as security to assist with getting a home loan. Almost half of Australians (46%) rely on the Bank of Mum and Dad for some form of financial assistance when buying a property.
While 20% is a target for many homebuyers, there are schemes that can help you buy a house with a deposit as low as 5%. In addition to saving for a deposit, you’ll also need to think about other upfront costs, such as stamp duty, legal fees, and moving expenses.
How much deposit you need will come down to how much you plan to borrow to buy a home.
Help for first home buyers
Knowing the process
Home loan calculators
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