What percentage deposit do I need for a home loan?

The larger the deposit you can save, the better.  At a minimum you’ll need 5–10% of a property’s purchase price, depending on the lender’s requirement and your financial situation.

A deposit of at least 20% of the value of the property is ideal because it will save you both on interest payments and also remove the need to take out lenders mortgage insurance (LMI), potentially saving you thousands of dollars.