Set a deposit benchmark for a purchase
This planner converts a property price and chosen deposit percentage into a dollar target. It also subtracts savings already set aside, so you can see the remaining gap before considering a purchase. It is a simple way to compare a 10%, 15% or 20% deposit against the same Australian property price.
A deposit target is not the same as a lender decision. Valuation, income, expenses, credit policy, loan purpose and loan-to-value ratio rules can all affect an application. Keep cash for purchase costs and a buffer rather than treating every available dollar as deposit money.
How to read the results
Target deposit is the selected percentage multiplied by the property price. Remaining savings gap is the target less the savings entered, never below zero. It indicates progress toward the chosen target, not the amount a lender will require.
Target LVR is the indicative loan divided by the price after the target deposit. Indicative loan is price less target deposit. These figures do not include stamp duty, conveyancing, inspections, lender costs, government schemes or a valuation that differs from the contract price.
Worked example
For the default $850,000 price and 20% deposit target, the target deposit is $170,000. With $45,000 already set aside, the remaining savings gap is $125,000; the indicative loan is $680,000 and the target LVR is 80.0%.
The example deliberately keeps buying costs separate. Having $170,000 does not establish that there is enough cash to complete a particular purchase or that finance will be approved.
Assumptions and limitations
- The property price is used as the basis for the target deposit.
- The selected deposit percentage is applied directly to that price.
- Savings already set aside are counted dollar for dollar against the target.
- The indicative loan equals the price less the target deposit.
- Purchase costs, LMI, grants, concessions and lender fees are excluded.
Frequently asked questions
Is 20% always required for an Australian home loan?
No. Products can allow different deposit sizes, but pricing, LMI, eligibility and lender requirements can differ.
What does an 80% LVR mean here?
It means the indicative loan is 80% of the entered price. A lender may use its own valuation rather than that price.
Should stamp duty be included in savings already set aside?
Only enter funds you intend to count toward the deposit. Consider modelling duty and other upfront costs separately so the distinction remains clear for settlement planning.
This calculator and supporting information provide general estimates only. They do not take account of every product rule, tax consequence or personal circumstance and are not financial, tax, credit or legal advice.