How much deposit do you need?
With a deposit of 20% or more you typically won't pay lenders mortgage insurance, CommBank says. Below that you can usually borrow with LMI added to the loan, or with 5% and no LMI through the Australian Government 5% Deposit Scheme if you're an eligible first home buyer (2% for single parents and legal guardians) and the price is at or under the cap for the area. The scheme has had no income caps or limit on places since 1 October 2025.
| Property price | 5% deposit | 10% deposit | 20% deposit (no LMI) |
|---|---|---|---|
| $400,000 | $20,000 | $40,000 | $80,000 |
| $500,000 | $25,000 | $50,000 | $100,000 |
| $600,000 | $30,000 | $60,000 | $120,000 |
| $700,000 | $35,000 | $70,000 | $140,000 |
| $800,000 | $40,000 | $80,000 | $160,000 |
| $1,000,000 | $50,000 | $100,000 | $200,000 |
What is a 5% deposit on a $600,000 house?
$30,000. Through the 5% Deposit Scheme an eligible first home buyer can borrow the other $570,000 without lenders mortgage insurance, if $600,000 is at or under the price cap for the area. Stamp duty is on top, though an eligible first home buyer pays none on a $600,000 established home in NSW, Victoria, Queensland, WA and the ACT.
How much deposit do I need for a $500,000 house?
$25,000 (5%) with the 5% Deposit Scheme if you're an eligible first home buyer and the home is under the price cap, or $100,000 (20%) to avoid LMI without a scheme. A 10% deposit of $50,000 is possible at many lenders, with LMI added to the loan. Add stamp duty and titles fees.
Can I buy a house with a $20,000 deposit?
Possibly: $20,000 is 5% of a $400,000 home, enough through the 5% Deposit Scheme if you're eligible and the price is under the cap. Otherwise borrowing 95% usually means paying LMI, and you still need money for stamp duty (unless you're exempt) and fees.
What is the minimum deposit required for a $1,000,000 house?
$50,000 (5%) if you're eligible for the 5% Deposit Scheme and $1,000,000 is at or under your area's price cap, which it is in the capital city areas of NSW, Queensland and the ACT. Otherwise $200,000 (20%) avoids LMI, or $100,000 (10%) with LMI at lenders that lend to 90%.
Upfront costs by state
Stamp duty makes the biggest difference between states. The table adds the deposit, stamp duty and titles fees on a $600,000 established home for a first home buyer with a 5% deposit and for any other home buyer with a 20% deposit. Each row links its state stamp duty calculator.
| State or territory | First home buyer, 5% deposit | Other home buyer, 20% deposit | Titles fees | Work it out |
|---|---|---|---|---|
| New South Wales | $30,365 | $141,552 | $365 | NSW stamp duty calculator |
| Victoria | $31,638 | $152,708 | $1,638 | VIC stamp duty calculator |
| Queensland | $32,452 | $135,302 | $2,452 | QLD stamp duty calculator |
| Western Australia | $30,560 | $143,075 | $560 | WA stamp duty calculator |
| South Australia | $63,162 | $153,162 | $6,332 | SA stamp duty calculator |
| Tasmania | $52,922 | $142,922 | $424 | TAS stamp duty calculator |
| Australian Capital Territory | $30,680 | $133,408 | $680 | ACT stamp duty calculator |
| Northern Territory | $60,062 | $150,062 | $362 | NT stamp duty calculator |
Transfer and mortgage registration fees by state
On top of stamp duty, each state's land titles office charges a fee to register the transfer into your name and another to register your lender's mortgage. Four states charge a flat transfer fee and four scale it with the property's value.
| State or territory | Transfer fee | On a $700,000 purchase | Mortgage registration |
|---|---|---|---|
| New South Wales (NSW Land Registry Services) | $182.73 (flat, including GST) | $182.73 | $182.73 |
| Victoria (Land Use Victoria) | $104.30 plus $2.34 for every whole $1,000 of value, up to $3,614 (electronic lodgement) | $1,743 | $129.20 |
| Queensland (Titles Queensland) | $248.04, plus $46.56 for every $10,000 or part over $180,000 | $2,669.16 | $248.04 |
| Western Australia (Landgate) | $275.10 up to $300,000, plus $20 for every $100,000 or part above that (lower below $300,000) | $355.10 | $225.10 |
| South Australia (Land Services SA) | Set by value bands: $353 from $40,001 to $50,000, then $105 more for each $10,000 band, to $11,063 at $1,070,000 | $7,178 | $204 |
| Tasmania (Land Titles Office Tasmania) | $256.76 (flat) | $256.76 | $167.58 |
| Australian Capital Territory (ACT Land Titles) | $496 (flat) | $496 | $184 |
| Northern Territory (NT Land Titles Office) | $181 (flat) | $181 | $181 |
What the calculator leaves out
- The LMI premium itself: it depends on your lender and its insurer, so the calculator shows Helia's published range and links to estimators.
- Conveyancing, inspections, loan application fees and moving costs, unless you add them as other costs.
- Off-the-plan, pensioner and other special stamp duty concessions, and foreign purchaser surcharges. The stamp duty calculator covers the surcharges.
- First home owner grants, which can reduce the cash you need on a new home. See first home buyer schemes and grants.
Once you know the deposit, check what you could borrow with the borrowing power calculatorand what the loan will cost with the mortgage repayment calculator. Ourlow deposit home loans guide covers guarantors, state lenders and other ways to buy with less.
Deposit and upfront cost questions
What is a 5% deposit on a $600,000 house?
$30,000. Through the 5% Deposit Scheme an eligible first home buyer can borrow the other $570,000 without lenders mortgage insurance, if $600,000 is at or under the price cap for the area. Stamp duty is on top, though an eligible first home buyer pays none on a $600,000 established home in NSW, Victoria, Queensland, WA and the ACT.
How much deposit do I need for a $500,000 house?
$25,000 (5%) with the 5% Deposit Scheme if you're an eligible first home buyer and the home is under the price cap, or $100,000 (20%) to avoid LMI without a scheme. A 10% deposit of $50,000 is possible at many lenders, with LMI added to the loan. Add stamp duty and titles fees.
Can I buy a house with a $20,000 deposit?
Possibly: $20,000 is 5% of a $400,000 home, enough through the 5% Deposit Scheme if you're eligible and the price is under the cap. Otherwise borrowing 95% usually means paying LMI, and you still need money for stamp duty (unless you're exempt) and fees.
What is the minimum deposit required for a $1,000,000 house?
$50,000 (5%) if you're eligible for the 5% Deposit Scheme and $1,000,000 is at or under your area's price cap, which it is in the capital city areas of NSW, Queensland and the ACT. Otherwise $200,000 (20%) avoids LMI, or $100,000 (10%) with LMI at lenders that lend to 90%.
What upfront costs are there when buying a house?
The deposit, stamp duty (unless you're exempt), the land titles fees to register the transfer and your mortgage, conveyancing, building and pest inspections, and any lender fees. LMI is also an upfront cost if your deposit is under 20%, though it is usually added to the loan.
Is LMI paid upfront?
It can be, but it is usually added to the loan, so you pay interest on it. Helia, an LMI insurer, says it can be paid at settlement or added to the loan, and that the premium is typically between 1% and 2% of the loan amount.
What are the transfer fees when buying a property?
Each state's land titles office charges a fee to register the transfer and another to register your mortgage. For 2026–27 the transfer fee is flat in NSW, Tasmania, the ACT and the NT, and rises with the property's value in Victoria, Queensland, WA and South Australia. The table on this page lists them.
