How Much Deposit Do I Need to Buy a House in Australia?

Most Australian lenders accept deposits as low as 5% of the property price, although a 20% deposit lets you avoid Lender's Mortgage Insurance (LMI). Government schemes including the First Home Guarantee and Family Home Guarantee allow eligible buyers to enter the market with even smaller deposits without paying LMI.

Schemes that reduce the deposit you need

• First Home Guarantee — 5% deposit, no LMI
• Regional First Home Buyer Guarantee — 5% deposit, no LMI
• Family Home Guarantee — 2% deposit for eligible single parents
• First Home Super Saver Scheme — up to $50,000 from voluntary super