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Trish B.
Trish B.
Bathurst, NSW

hi, i am a first home buyer and looking at a home for $335,000… what’s the minimum deposit I need?

9 months ago


Hi Trish,

I'm not sure what your personal circumstances so can't confirm things like serviceability. But provided you get both the $10K FHOG & stamp duty concession, you could secure that property for as little as $10,000.

However, for loans >90% you need to show at least 5% genuine savings so the reality is you'd need at least $16,750.

Let me know if you want to talk further.

Kind regards,

Tim Russell
0400 530 868

Hi Trish,
Great question! I’m sure plenty of first home buyers are wondering the same thing.
As Tim said you need to show that you have “genuine savings” of at least 5% of the purchase price. There are still a few lenders that will lend you 95% and add the mortgage insurance onto the loan balance.
The absolute minimum then is 5% plus the cost of Conveyancing, mortgage registration and any lender fees. In your example that would be approximately $18,000
If you have any further questions feel free to add them in the comments
Kind regards

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