House Deposit Calculator
Estimate how much cash you need upfront, how much you still need to save, and how long it may take to reach your goal.
This calculator is educational and uses estimates only. Lending rules, taxes, and fees vary by lender and location.
How much deposit do you need for a house?
Your deposit is the upfront cash portion of your home purchase. Most buyers target a deposit of 10% to 20% of the property price, but minimum requirements can vary by lender, loan type, and country.
As a simple rule of thumb:
- 20% deposit: often helps you avoid lender mortgage insurance (LMI/PMI) and may improve loan terms.
- 10% deposit: may still be possible, but you could face higher repayments and insurance costs.
- 5% deposit: can work in some programs, but usually comes with stricter eligibility and higher overall borrowing risk.
What this deposit calculator includes
Many buyers focus only on the deposit and forget the other upfront expenses. This calculator estimates:
- Required deposit based on your selected percentage
- Estimated additional purchase costs (legal fees, inspections, moving costs, etc.)
- Total cash needed before purchase
- Remaining amount to save after current savings
- Estimated timeline to your goal using monthly contributions and a projected savings return
- Estimated loan-to-value ratio (LVR), which lenders use to assess risk
Why LVR matters
LVR (Loan-to-Value Ratio) compares your loan amount to the property value. A lower LVR usually means lower lender risk.
Quick interpretation
- 80% LVR or less: generally considered a stronger position.
- Above 80% LVR: you may need to pay lender mortgage insurance or face tighter loan conditions.
Example scenario
Suppose you want to buy a $500,000 home with a 20% deposit and estimate 3% extra upfront costs:
- Deposit required: $100,000
- Estimated extra costs: $15,000
- Total cash needed: $115,000
If you already have $25,000 saved, you still need $90,000. With monthly savings and modest interest, your timeline becomes much clearer—and easier to manage with a plan.
Ways to reach your house deposit faster
1) Automate your savings
Set an automatic transfer right after payday. Consistency beats intensity over long timeframes.
2) Separate your deposit fund
Use a dedicated high-yield savings account to reduce spending temptation and earn a better return.
3) Reduce high-interest debt first
Credit card interest can wipe out savings progress. Paying down expensive debt may improve borrowing capacity too.
4) Track spending leaks
Small recurring expenses add up quickly. A monthly review can uncover easy wins without major lifestyle cuts.
5) Plan for the full buying cost
Budget for inspections, legal fees, insurance, and moving costs so your deposit plan is realistic from day one.
Final thoughts
A strong home deposit plan is not only about the percentage—it is about readiness. By combining your target deposit, true upfront costs, and a monthly savings schedule, you can estimate both affordability and timing with confidence.
Use this calculator regularly as your income, savings rate, and market conditions change. Small adjustments now can save years later.