--- title: Home Loan Deposits? How Much? Help! description: The basics on home loan deposits and how much you can borrow for a mortgage. Includes some ways you may be able to acquire a mortgage without saving the full 20% deposit image: https://www.beyonddebt.com.au/hubfs/alone-bills-calculator-1253591.jpg --- ![Top bar image](https://www.beyonddebt.com.au/hubfs/Assets%202019/Top%20bar%20image.jpg "Top bar image") ###### ![](https://www.beyonddebt.com.au/hubfs/Assets%202019/Tv.svg)Did you see us on TV? - [Click Here](https://www.beyonddebt.com.au/debt-help) ![Close](https://www.beyonddebt.com.au/hubfs/Assets%202019/Close.svg "Close") [![Logo](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Beyond%20Debt%20black.png?width=560&height=128&name=Beyond%20Debt%20black.png "Logo")](https://www.beyonddebt.com.au) [![Logo](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Beyond%20Debt%20white.png?width=560&height=128&name=Beyond%20Debt%20white.png "Logo")](https://www.beyonddebt.com.au) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)**1300 284 091**](tel:1300%20284%20091) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)![](https://www.beyonddebt.com.au/hubfs/Beyond%20Debt%20October2017/small-icon.svg)**1300 284 091**](tel:1300%20284%20091) [![Free Consultation](https://no-cache.hubspot.com/cta/default/2583772/02eddd09-66a0-4e61-9e59-63ae64bfd94a.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/02eddd09-66a0-4e61-9e59-63ae64bfd94a) #### [1300 284 091](tel:1300%20284%20091) - ##### [Eliminate Debt](https://www.beyonddebt.com.au/blog/topic/eliminate-debt) [## How to Get Out of Debt in 2026: The Australian's Step-by-Step Guide (And Free Budget Planner) ](https://www.beyonddebt.com.au/blog/take-control-of-your-debt) [Read Article](https://www.beyonddebt.com.au/blog/take-control-of-your-debt) - ###### [Personal Finance Basics](https://www.beyonddebt.com.au/blog/topic/personal-finance-basics) - ###### [Build Savings](https://www.beyonddebt.com.au/blog/topic/build-savings) - ###### [Handle Money](https://www.beyonddebt.com.au/blog/topic/handle-money) # [Home Loan Deposits? How Much? Help!](https://www.beyonddebt.com.au/blog/home-loan-deposits-how-much-help) - ###### Kristin Perissinotto - ###### 01 Aug 2018 ###### LATEST ARTICLES - Personal Finance Basics - Build Savings - Handle Money [Back to blog](https://www.beyonddebt.com.au/blog) - Share - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.beyonddebt.com.au%2Fblog%2Fhome-loan-deposits-how-much-help) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.beyonddebt.com.au%2Fblog%2Fhome-loan-deposits-how-much-help) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.beyonddebt.com.au/blog/home-loan-deposits-how-much-help) There's lots of mixed information out there about in ins and outs of a mortgage. The rule used to be that you must have 20% of the house price saved, and you could borrow 80% from your preferred lender or bank. But is this still the case? Do you always need 20%? ![house home loan mortgage](https://www.beyonddebt.com.au/hs-fs/hubfs/architecture-daylight-driveway-277667.jpg?width=450&name=architecture-daylight-driveway-277667.jpg) ## 20% is still the general rule Most banks and lenders still do require a 20% deposit as a general rule. However, you may be able to acquire a mortgage from most lenders with as little as a 5% deposit if you pay [Lenders Mortgage Insurance](https://blog.beyonddebt.com.au/pros-and-cons-of-mortgage-lenders-insurance). There are also a few options for buyers who don't have a deposit at all. If you have a guarantor for your home loan, like your parents, who can use their property as security, you may be eligible to gain a mortgage with now deposit at all. A second option is a Deposit Protect Bond, which will allow you to proceed with a purchase if you don't have your deposit ready. This is a good option for you if your deposit is tied up in another investment, or if you are eligible and waiting for the First Homeowners Grant. ![budget plan home loan](https://www.beyonddebt.com.au/hs-fs/hubfs/business-business-plan-close-up-908292.jpg?width=450&name=business-business-plan-close-up-908292.jpg) ## How much *should* you borrow? Before taking the plunge, it is very consider to consider the above question. How much can you actually afford to borrow, and consequentially spend on a home? One of the worst things you can do is overstretch on your first home loan, and become buried by payments in the first few years. You will also need to consider the fees attached to taking out a mortgage, which will vary depending on your particular lender or bank. To acquire the best loan for you, be sure to [do your research](https://blog.beyonddebt.com.au/which-home-loan) and find the ideal fit. ![budget calculator home loan mortgage](https://www.beyonddebt.com.au/hs-fs/hubfs/alone-bills-calculator-1253591.jpg?width=450&name=alone-bills-calculator-1253591.jpg) ## Use a calculator! There are lots of free tools available online that will help you figure out what you can afford, budget calculators are a great first step to take. You can start with Beyond Debt's [budget calculator](https://www.beyonddebt.com.au/calculators/budget-calculator/) to get your finances in order before making any decisions. Once you have a clear idea of exactly where your money is going, check out the MoneySmart [mortgage calculator](https://www.moneysmart.gov.au/borrowing-and-credit/borrowing-basics/how-much-can-i-borrow), which has the capabilities to give you an idea of what you can afford to borrow, and how much your repayments will be. Happy saving!   ###### Ready to become debt free? #### Take the first step to a debt free future [Ready to become debt free?](https://info.beyonddebt.com.au/request-a-consultation) ### You might find these interesting - ##### [Personal Finance Basics](https://www.beyonddebt.com.au/blog/topic/personal-finance-basics) ## [The Worst Degrees to Study](https://www.beyonddebt.com.au/blog/the-worst-degrees-to-study) - ###### Ben Paris - ###### 06 Jul 2022 - ##### [Personal Finance Basics](https://www.beyonddebt.com.au/blog/topic/personal-finance-basics) ## [Couple’s Money – How to Budget Together](https://www.beyonddebt.com.au/blog/couples-money-how-to-budget-together) - ###### Ben Paris - ###### 06 Jul 2022 - ##### [Personal Finance Basics](https://www.beyonddebt.com.au/blog/topic/personal-finance-basics) ## [The 10 Cheapest Places to live in Australia](https://www.beyonddebt.com.au/blog/the-10-cheapest-places-to-live-in-australia) - ###### Ben Paris - ###### 01 Jun 2022 - [Personal Finance Basics (126)](https://www.beyonddebt.com.au/blog/tag/personal-finance-basics) - [Handle Money (100)](https://www.beyonddebt.com.au/blog/tag/handle-money) - [Everyday Expenses (61)](https://www.beyonddebt.com.au/blog/tag/everyday-expenses) - [Affordable Living (50)](https://www.beyonddebt.com.au/blog/tag/affordable-living) - [Build Savings (33)](https://www.beyonddebt.com.au/blog/tag/build-savings) ## Ready to become debt free? #### Speak with one of our specialists to start your future [![About Beyond Debt](https://no-cache.hubspot.com/cta/default/2583772/e771166e-724a-4461-9ee9-fd819c4c0fe2.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/e771166e-724a-4461-9ee9-fd819c4c0fe2) [![Get Help](https://no-cache.hubspot.com/cta/default/2583772/8ac6a951-8425-44d9-91d4-0928fca0084e.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/8ac6a951-8425-44d9-91d4-0928fca0084e) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)![](https://www.beyonddebt.com.au/hubfs/Beyond%20Debt%20October2017/small-icon.svg)**1300 284 091**](tel:1300%20284%20091) - ![Family-Owned-transparent-300x158](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Family-Owned-transparent-300x158.png?width=115&name=Family-Owned-transparent-300x158.png) - ![pipa_logo_transparent_300w_100h](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/pipa_logo_transparent_300w_100h.png?width=151&name=pipa_logo_transparent_300w_100h.png) - ![Feefo](https://www.beyonddebt.com.au/hs-fs/hubfs/Feefo.png?width=115&name=Feefo.png) ##### Debt Help ##### Company ##### Resources Beyond Debt is a trading name of DCS Group Aust Pty Ltd. Australian Credit License: 382607. RDAA Number: 1126. PO Box 3074 Newstead, QLD, 4006. DCS Group operates under a Limited Liability scheme approved under Professional Standards Legislation [Privacy Policy](https://www.beyonddebt.com.au/privacy-policy)