How much deposit do you need to buy a house?

You’re usually going to need a deposit of at least 5% of the purchase price, but there are caveats to how much deposit you’ll actually need.

Help me work out…

1. About meus

It’s just me

There’s two of us

and I’mwe’re financially supporting

dependant(s).

2. Income and Expenses

IWe earn

+ Rental income

+ Other income

MyOur expenses

Help me estimate myour monthly expenses

Total credit card limit of

+ Other repayments of

IWe earn a total of
* per month
after tax,
and have total
monthly expenses of
$0

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3. Your Affordability

Your Monthly Position

Home Loan Repayment
Total Expenses
Remaining

Based on 4.5% standard
variable rate over 30 years.

You may be able to borrow between

Talk to a Mortgage Choice broker today to get a loan pre-approval so that you can house hunt with confidence.

Unfortunately it doesn’t look like you can borrow for a home loan. Please check that you’ve entered your details correctly.

If you need help to get your finances on track, check out our Financial Planning advice.

Calculate my borrowing power

Your borrowing power estimate:

Income:

Expenses:

You may be able to borrow up to:

Value of the property:

Borrow:

Over:

Interest Rate:

Use the lowest rate from Mortgage Choice’s lender panel

Use a different rate

I want to borrow

over

at an interest of

Edit

Your monthly repayment will be:

Total loan
repayments:

Total interest
charged:

Repayment options:

+ Extra repayment

Options I want:

Variable rate

Line of credit

Professional Package

1 year fixed interest

3 year fixed interest

5 year fixed interest

We’ve updated the results with the lowest rate from our lender panel based on your selected options.

There’s a lot to consider when choosing the right loan. Our brokers can help with expert advice at no cost to you.

COMPARE HOME LOANS

Not sure which type of loan is best for you? Whether you’re a first time buyer, an investor or an existing property
owner, you need to make sure you choose a home loan that’s right for you.

Online home loan

Discount variable

Low rate home loan

Orange advantage home loan

About home loan rates & types

Owner occupied

Are you a borrower looking for a home loan for the property you plan to live in? Whether you want to purchase an existing home, build a new property or renovate an existing building, it is important you have the right home loan for your needs

Investment

Looking to purchase or renovate a property as an investment? With an investment home loan you can borrow the amount required to purchase a residential property that you hope to make a return on in the future.

Fixed rates

Are you a borrower looking for security and certainty when taking out a home loan? By choosing a fixed rate home loan your loan repayments will be charged at the same interest rate for the entire chosen period (normally 1 to 5 years, or longer).

Variable rates

As interest rates fluctuate, you may want to take advantage of a variable rate home loan so that you only pay interest set at the current market rate. You could end up paying less interest and lower monthly repayments than if you choose a fixed rate loan.

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