Mortgage Deposit Calculator
Work out the deposit, buying costs and cash needed for a home, or the purchase price your savings cover.
Your purchase budget
Enter your savings and costs. Results update as you type.
Your deposit estimate
Example inputsCheck the highlighted fields to calculate your estimate.
- $178,000
- Deposit, entered buying costs and savings retained after settlement.
- $700,000
- A cash-budget estimate using fixed entered costs. Borrowing capacity is assessed separately.
- $140,000
- $560,000
- $28,000
- $20,000
- $158,000
- $8,000
- $0
Deposit Versus Total Cash Needed
A home loan deposit is the part of the purchase price paid from your funds. Total cash needed also includes buying costs and the savings you keep after settlement. This mortgage deposit calculator separates those amounts so a deposit percentage does not become your whole purchase budget.
Loan-to-value ratio (LVR) is the loan divided by the property's value. This tool uses the purchase price as that value. At an 80% target LVR, your contribution towards the price is 20%. A lender's lower valuation can increase the cash needed.
Enter transfer duty, conveyancing and inspection costs separately. Other costs can include cash-paid loan fees or lenders mortgage insurance (LMI). If LMI is added to the loan, it affects the final loan and LVR and needs a separate lender calculation.
The Moneysmart home-buying guide explains the costs to allow for beyond the deposit. Use the stamp duty calculator for your state or territory, then enter the relevant duty here.
Working Back From Available Savings
Choose Savings to work backwards from the funds available. The calculator adds savings, grants and gifts, then subtracts buying costs and your retained reserve. It divides the remainder by the deposit percentage.
For example, $150,000 in savings plus a $20,000 gift leaves $132,000 for a deposit after $28,000 of costs and a $10,000 reserve. At an 80% target LVR, that covers a $660,000 purchase price. At 90%, the same deposit covers $1,320,000 before changes to costs or lender limits.
Buying costs stay fixed in this calculation. A higher resulting price can increase transfer duty, fees or LMI. Update those amounts and calculate again. This is a deposit-funded price, not a borrowing-capacity assessment.
A Home Loan Deposit Example
This illustrative purchase uses a $700,000 price, $28,000 in entered buying costs and a $10,000 reserve. Both scenarios include $150,000 of own savings, a $20,000 gift and no grant.
| Cash budget item | 80% target LVR | 90% target LVR |
|---|---|---|
| Deposit towards price | $140,000 | $70,000 |
| Loan before financed fees | $560,000 | $630,000 |
| Buying costs | $28,000 | $28,000 |
| Retained savings | $10,000 | $10,000 |
| Total cash required | $178,000 | $108,000 |
| Gift included | $20,000 | $20,000 |
| Own savings required | $158,000 | $88,000 |
| Savings gap | $8,000 | $0 |
| Funds above required cash | $0 | $62,000 |
The smaller deposit reduces the initial cash requirement by $70,000 and increases the loan by the same amount. The comparison holds buying costs fixed and includes no LMI premium. A higher-LVR loan can add insurance costs or change available loan terms.
What Counts as Genuine Savings
Genuine savings are funds that meet a lender's rules about their source and saving history. A gift can close the calculator's cash gap while still needing different evidence from savings built up over time.
The calculator adds an entered gift or grant to available funds. It does not decide whether a lender accepts those funds, whether a grant is payable before settlement or whether your savings history qualifies.
Keep statements showing the source and history of the funds, plus evidence for any gift or grant. Match the resulting deposit and loan with the lender's requirements before using the purchase budget for an offer.