Get your block checked
How much deposit, really?
The old “you need 20%” rule is out of date. Depending on your situation,
here’s where first home buyers actually start.
20%
The old standard
Avoids LMI — but no longer
the only way in.
Best for
Buyers with larger savings who want to avoid LMI.
5%
With a guarantee scheme
First Home Guarantee — 5% deposit, no LMI, no income cap.
- Government backed
- No LMI
- Most first home buyers qualify
2%
Help to Buy / single parents
Shared equity or the single- parent pathway, both LMI-free.
Best for
Eligible single parents or
shared equity applicants.
0%
With a guarrantor
A family member’s equity can replace a cash deposit.
Best for
Buyers with family support and assets.
How much deposit, really?
The old “you need 20%” rule is out of date. Depending on your situation,
here’s where first home buyers actually start.
20%
The old standard
Avoids LMI — but no longer
the only way in.
Best for
Buyers with larger savings who want to avoid LMI.
5%
With a guarantee scheme
First Home Guarantee — 5% deposit, no LMI, no income cap.
- Government backed
- No LMI
- Most first home buyers qualify
2%
Help to Buy / single parents
Shared equity or the single- parent pathway, both LMI-free.
Best for
Eligible single parents or
shared equity applicants.
0%
With a guarrantor
A family member’s equity can replace a cash deposit.
Best for
Buyers with family support and assets.
You don't have to navigate finance alone
Buying a home is one of the biggest decisions you’ll make. With the right guidance, we make finance simple, clear and tailored to you.
Why the lender doesn't have to be the one you think
We compare more options for you
Access to 40+ lenders, not just the big banks.
Find competitive rates & better deals
We negotiate on your behalf to find great loans.
We look at your full financial picture
Not just your numbers—your goals and future plans.
We simplify the process
We handle the paperwork so you can focus on what matters.
How we help with the finance side
- We work for you, not the banks—always.
- Expert advice, personalized to your situation and goals.
- We save you time and stress by doing the hard work.
- From guidance to settlement, we are with you every step.
Your Borrowing Power
Deposit gets you in the door. Borrowing capacity decides how much home you can buy.
- Worth paying for
- Credit card limits — even ones you never use
- Car loans, personal loans and buy-now-pay-later
- Study debt (HECS/HELP) repayments
- Dependents and higher household costs
- Irregular or casual income
- The 3% assessment buffer on every application
- What lifts your borrowing power
- Higher, stable income (permanent over casual)
- Lower everyday living expenses
- Paying off and closing debts
- Reducing or cancelling credit card limits
- A clean credit history
- Choosing a loan with a lower interest rate
- Rental income (for investors) and usable equity
Frequently Asked Questions
How much deposit do I really need?
The traditional answer was 20% — that’s the level where you avoid Lender’s Mortgage Insurance. But government schemes have changed the game. Many first home buyers now get in with a 5% deposit (First Home Guarantee) or even 2% (Help to Buy or the single-parent pathway), all without paying LMI.
One thing to plan for: your deposit isn’t the only upfront cost. You’ll also need funds for legal fees, and stamp duty if it applies to your purchase. We help you map out the true number for your situation.
Can I buy with only 2%?
Yes — if you’re eligible. Two pathways allow a 2% deposit with no LMI: the Help to Buy shared-equity scheme (for Australian citizens within income caps), and the Family Home Guarantee for single parents and legal guardians.
You’ll still need a little extra set aside for purchase costs, but the deposit hurdle itself is small.
Can I purchase a home with no deposit?
Sometimes, yes — usually through a guarantor. A family member (often a parent) uses the equity in their own home as extra security for your loan. That can let you borrow the full purchase price without a cash deposit, and often without LMI.
The catch: you still have to prove you can comfortably afford the repayments, and your guarantor takes on real responsibility. It’s a powerful option, but one to go into with clear advice — which is exactly what we’re here for.
Investing? How the deposit works for you
Investment loans usually sit outside the first-home schemes, so the low-deposit guarantees don’t apply. But investors have a different lever: equity in a property you already own. Many investors borrow against that equity to cover the deposit and costs on the next purchase — sometimes buying with little or no new cash out of pocket.
The other difference is on the income side — when a lender assesses you, the expected rent from the investment can count toward what you can borrow. We help you work out whether to use equity, cash, or a mix.
Don't guess your number. Let's work it out together.
- We find your real deposit figure — including every scheme you qualify for.
- We help lift your borrowing power — with a plan tailored to you.
- We connect you with the right lender — trusted mortgage professionals, not just your usual bank.
- We're independent — working for you, not a bank or builder.
