Deposit Calculator

Our deposit calculators are designed to help you plan and achieve your savings goals. Explore our content and connect with our Mortgage Brokers to start your home buying journey today.

First Home Buyer Guide

Am I ready to buy a house?

What is a first home buyer?

Will I be able to get a loan?

Is my Credit History and Rental History important?

Buying versus renting

How much deposit do I need?

Understanding deposits

How to meet the banks genuine savings rules

Deposit calculator

Grants and schemes for FHB's

First Home Owner Grants

First Home Guarantee Scheme

Latest government announcements to help FHB’s

Getting finance pre-approval

Pre-approval process

Benefits of getting a pre-approval

Are all pre-approvals equal?

Mortgage brokers vs Banks?

Why use a mortgage broker?

How much does a mortgage broker cost?

Are all mortgage brokers equal?

How to buy a property

Pre-approval process

Benefits of getting a pre-approval

Are all pre-approvals equal?

Preparing for settlement

Going unconditional on the property contract

What does a converyancer/solicitor do for a property purchase?

What happens on the day of settlement?

Managing your mortgage

Understanding loan repayments

Extra repayments, redraw and offset accounts

When is the right time to review your home loan?

Deposit calculator

The minimum deposit saved (or cash contribution) you’ll need to buy a house will depend on these factors:

The purchase price
Whether the property is new (or being built) or established
If you qualify for a first homeowner’s grant
If you qualify for first homeowners stamp duty exemption or concession
If you qualify for the First Home Guarantee scheme
If you have a family member willing to guarantee your loan

We’ll provide some common deposit examples for first home buyers in Victoria, New South Wales, and Queensland. For other states, contact an Acceptance Finance Mortgage Broker for a breakdown of your personal situation.

We’ve also built two simple deposit calculators to help you calculate the deposit you’ll need and how far away you are from achieving your deposit goals.

Deposit Calculator #1

Here’s our first deposit calculator, which helps you (and your partner) forecast how your savings will grow over 6 months, 1, 2, and 3 years, based on constant contributions each payday.

Deposit Calculator #2

Our second deposit calculator works backwards and asks you to enter the deposit amount you need (which an Acceptance Finance mortgage broker can help you calculate based on the above points), how quickly you want to reach your savings target, and from there provide you with the required savings amount per payday.

Common deposit examples in Victoria.

What deposit do you need to buy a $500,000 house in Victoria (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $30,000 to purchase a $500,000 property in Victoria.

What deposit do you need to buy a $600,000 house in Victoria (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $35,000 to purchase a $600,000 property in Victoria.

What deposit do you need to buy a $700,000 house in Victoria (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $65,000 to purchase a $700,000 property in Victoria.

What deposit do you need to buy a $800,000 house in Victoria (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $89,000 to purchase a $800,000 property in Victoria.

What deposit do you need to buy a $900,000 house in Victoria (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You don’t qualify for the First Home Guarantee Scheme as the purchase price is above the limit (found here)
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $100,000 to purchase a $900,000 property in Victoria, but you would also incur an approx. $42,000 Lender Mortgage Insurance Premium on top of the loan. If this is capitalised onto the loan, this brings the loan to value ratio up to 99% of the property value, and the number of lenders willing to lend up to this level would be greatly reduced. Chat to an Acceptance Finance mortgage broker in Melbourne to get some guidance.

Common deposit examples in NSW.

What deposit do you need to buy a $600,000 house in New South Wales (NSW) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $34,000 to purchase a $600,000 property in New South Wales (NSW).

What deposit do you need to buy a $700,000 house in New South Wales (NSW) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $39,000 to purchase a $700,000 property in New South Wales (NSW).

What deposit do you need to buy a $800,000 house in New South Wales (NSW) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $44,000 to purchase a $800,000 property in New South Wales (NSW).

What deposit do you need to buy a $900,000 house in New South Wales (NSW) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $69,000 to purchase a $900,000 property in New South Wales (NSW).

What deposit do you need to buy a $1,000,000 house in New South Wales (NSW) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You don’t qualify for the First Home Guarantee Scheme as the purchase price is above the limit (found here)
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $93,000 to purchase a $1,000,000 property in New South Wales (NSW), but you would also incur an approx. $37,000 Lender Mortgage Insurance Premium on top of the loan. If this is capitalised onto the loan, this brings the loan to value ratio up to 99% of the property value, and the number of lenders willing to lend up to this level would be greatly reduced. Chat to an Acceptance Finance mortgage broker in New South Wales to get some guidance.

Common deposit examples in Queensland.

What deposit do you need to buy a $600,000 house in Queensland (QLD) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $36,000 to purchase a $600,000 property in Queensland (QLD).

What deposit do you need to buy a $700,000 house in Queensland (QLD) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You qualify for the First Home Guarantee Scheme.
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $41,000 to purchase a $700,000 property in Queensland (QLD).

What deposit do you need to buy a $800,000 house in Queensland (QLD) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You don’t qualify for the First Home Guarantee Scheme as the purchase price is above the limit (found here)
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $68,000 to purchase a $800,000 property in Queensland (QLD), but you would also incur an approx. $32,000 Lender Mortgage Insurance Premium on top of the loan. If this is capitalised onto the loan, this brings the loan to value ratio up to 99% of the property value, and the number of lenders willing to lend up to this level would be greatly reduced. Chat to an Acceptance Finance mortgage broker in Queensland to get some guidance.

What deposit do you need to buy a $900,000 house in Queensland (QLD) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You don’t qualify for the First Home Guarantee Scheme as the purchase price is above the limit (found here)
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $78,000 to purchase a $900,000 property in Queensland (QLD), but you would also incur an approx. $37,000 Lender Mortgage Insurance Premium on top of the loan. If this is capitalised onto the loan, this brings the loan to value ratio up to 99% of the property value, and the number of lenders willing to lend up to this level would be greatly reduced. Chat to an Acceptance Finance mortgage broker in Queensland to get some guidance.

What deposit do you need to buy a $1,000,000 house in Queensland (QLD) (in the Capital City or Regional Centre)?

Let’s make some assumptions:

You don’t qualify for the First Home Guarantee Scheme as the purchase price is above the limit (found here)
You are buying an established property, so don’t qualify for a First Home Owners Grant.
We allow $3,000 to cover your conveyancing fees, pro rata property and water rates, etc.

If you qualify for a loan to borrow up to 95% of the property value, you will need to have a deposit of $88,000 to purchase a $1,000,000 property in Queensland (QLD), but you would also incur an approx. $41,000 Lender Mortgage Insurance Premium on top of the loan. If this is capitalised onto the loan, this brings the loan to value ratio up to 99% of the property value, and the number of lenders willing to lend up to this level would be greatly reduced. Chat to an Acceptance Finance mortgage broker in Queensland to get some guidance.