Sunrise Finance

Mortgage Deposit Calculator

Use this calculator to estimate how much deposit you’ll need to secure a home loan and achieve your property goals.

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Estimate the deposit required for your dream home with our Home Loan Deposit Calculator. This easy-to-use tool gives you a detailed view of the upfront costs, including stamp duty, legal fees, and other expenses, helping you plan your finances with confidence.

Please note that the calculator provides an estimate only and may not account for all fees or specific lender requirements.

Mortgage Deposit Calculator

How To Use The Home Loan Deposit Calculator

You have to complete all the required fields and select the right option to complete the calculation. The mortgage deposit calculator will provide you results for:

A breakdown of the estimated costs (stamp duty, Lenders Mortgage Insurance (LMI) fees, mortgage registration fees, etc)
A breakdown of the available funds (first home buyers grant, initial deposit)
The Loan-to-Value ratio or LVR
The total deposit you need to buy a home
The surplus or deficit amount based on your input

Who Can Use The Deposit Calculator?

First home buyers
Second home buyers
Property investors

The size of your home loan deposit has a significant impact on your mortgage terms and overall financial situation. Our 360° Home Loan Assessor explains how a larger deposit can result in a lower loan-to-value ratio, reduced monthly repayments, and potentially avoiding lenders mortgage insurance.

Quickly Get a Clear Overview of Your Home Loan!

The 360° Home Loan Assessor gives you a complete overview of your home loan in just minutes. Calculate deposits, review costs, and explore loan options—all in one convenient tool.

How To Use The Home Loan Deposit Calculator

A home loan deposit is an initial contribution you make towards the purchase price of the property you’re buying. The contribution you make means you own a portion of the property. So a larger deposit means you own more of the property.

Most lenders require a house deposit of at least 20% of the property value (excluding transaction costs). If your deposit is less than 20%, you will have to pay Lenders Mortgage Insurance (LMI).

The minimum deposit required by most lenders is at least 5% of the property value.

Property value

20% deposit

5% deposit

$600,000

$120,000

$30,000

$700,000

$140,000

$35,000

$800,000

$160,000

$40,000

$900,000

$180,000

$45,000

$1,000,000

$200,000

$50,000

Why Do You Need A Deposit For A Home Loan?

It helps lenders determine the size of your loan (also called the Loan-to-Value ratio or LVR) and whether you can comfortably repay your home loan.

Is 20% Really Enough For A House Deposit?

Technically, yes. A 20% house deposit means you don’t need to pay extra for LMI. However, you might also require additional funds for mortgage fees and other mortgage-related expenses.

Can I Buy A House With $50,000 Deposit?

If your deposit is not quite enough, here is what you can do:

Apply for a guarantor home loan
Be ready to pay LMI. You can use our LMI calculator to find out how much it costs.
Apply for government grants and schemes available that help you buy with a lower deposit.
Use our savings calculator to find out if you can reach your deposit goal.
Apply with lenders who offer low-deposit home loans.
To be ready to buy a home, it’s best to get pre-approved to see what you can afford. Talk to Sunrise Finance WA mortgage brokers today to get started on your home loan application! Call us on 0862430351 or complete our free online assessment form.

What If I Don’t Have Enough Deposit For A Home Loan?

If your deposit is not quite enough, here is what you can do:

Apply for a guarantor home loan
Be ready to pay LMI. You can use our LMI calculator to find out how much it costs.
Apply for government grants and schemes available that help you buy with a lower deposit.
Use our savings calculator to find out if you can reach your deposit goal.
Apply with lenders who offer low-deposit home loans.
To be ready to buy a home, it’s best to get pre-approved to see what you can afford. Talk to Sunrise Finance WA mortgage brokers today to get started on your home loan application! Call us on 0862430351 or complete our free online assessment form.

Related Topics

Determine Deposit Requirements

Find out the minimum deposit required based on the property price and the percentage you plan to borrow, helping you set a clear savings goal.

Understand LVR (Loan-to-Value Ratio)

Calculate your LVR and see how it affects your deposit size and eligibility for certain loan products or benefits, like LMI waivers.

Plan for Additional Costs

Factor in other upfront costs, such as stamp duty, legal fees, and inspections, to ensure you save enough beyond just the deposit.

Explore Low-Deposit Options

Learn about loans that accept smaller deposits, such as low-deposit or government-backed schemes, and how much you’ll need to qualify.

Set Savings Targets

Get a clear picture of how much you need to save each month to reach your deposit goal within a specific timeframe.

Compare Scenarios

Adjust property prices and deposit percentages to compare how different scenarios impact your deposit requirements and borrowing capacity.

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