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Local Knowledge Finance

Deposit Calculator

See how much you need to save for a home deposit — including stamp duty, LMI, and purchase costs across different deposit scenarios.

Stamp duty (NSW est.)
$31,207
Standard rate
Other costs (legal + inspections)
$4,000
Estimated

Deposit scenarios

ScenarioDepositLoanLVRLMITotal upfront
5% deposit$40,000$760,00095%$28,120$103,327
10% deposit$80,000$720,00090%$17,280$132,487
20% deposit$160,000$640,00080%$0$195,207

Total upfront costs range from $103,327 to $195,207 — let's find the right target for you.

The right deposit size depends on your savings timeline, LMI cost, and interest rate. We model the numbers so you can decide with confidence.

Frequently Asked Questions

The minimum deposit is generally 5% of the property price, though you will need to pay LMI (Lenders Mortgage Insurance) on deposits below 20%. Some government schemes allow eligible first home buyers to purchase with 5% deposit without LMI. A 20% deposit avoids LMI and gives you access to better interest rates.
Upfront costs typically include stamp duty (transfer duty), legal/conveyancing fees ($1,500–$3,000), building and pest inspections ($500–$1,500), loan application fees, and Lenders Mortgage Insurance if your deposit is below 20%. Budget an additional 3–5% of the property price for these costs on top of your deposit.
Yes. Australian first home buyers can access several schemes: the First Home Owner Grant (FHOG, varies by state), the First Home Guarantee (buy with 5% deposit, no LMI), the Family Home Guarantee (for single parents), stamp duty exemptions and concessions, and the First Home Super Saver Scheme (withdraw super contributions for a deposit).
Yes. Parents can help via a cash gift (lenders may require a statutory declaration that it is not a loan), a family guarantee (parents use equity in their property as additional security for your loan, often avoiding LMI), or acting as a co-borrower. A broker can structure the arrangement to satisfy lender requirements.

Important Disclaimer

This calculator provides general estimates only. The results are indicative and should not be relied upon as financial advice, a quote, or a guarantee of loan approval or terms.

Your actual borrowing capacity, repayments, stamp duty, and other costs may differ based on:

  • Individual lender assessment criteria and policies
  • Your complete financial circumstances, credit history, and employment status
  • Current interest rates, government policies, and market conditions
  • Property type, location, and intended use (owner-occupied vs. investment)
  • Additional fees, charges, and conditions not captured in this calculator

General Advice Warning

Any information provided by this calculator is general in nature and does not take into account your personal objectives, financial situation, or needs.

Before making any financial decisions, you should:

  • Consider whether the information is appropriate for your circumstances
  • Read the relevant Product Disclosure Statement (PDS) or loan documents
  • Seek professional financial advice tailored to your situation
  • Compare multiple lenders and loan products

Regulatory Compliance: Local Knowledge Finance is committed to compliance with all applicable Australian Securities and Investments Commission (ASIC) regulations and the National Consumer Credit Protection Act 2009.

Not Financial Advice: This calculator and its outputs do not constitute financial advice, credit assistance, or a recommendation to enter into any particular loan or financial product.

Accuracy: While we strive to ensure the accuracy of this calculator, Local Knowledge Finance makes no representations or warranties about the completeness, accuracy, or reliability of the information provided.

Liability: To the maximum extent permitted by law, Local Knowledge Finance disclaims all liability for any loss or damage arising from your use of this calculator or reliance on its results.

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Ding Financial Pty Ltd (trading as Local Knowledge Finance) ACN 110 490 947 is an authorised Credit Representative Number 517980 of Global Mutual Funds Pty Ltd ACN 090 555 436 AFSL/Australian Credit Licence 222640.