Show clients the true cash they need to buy — deposit plus stamp duty, LMI and fees — not just the 20% headline. The tool that turns “how much do I need?” into a clear number.
The purchase
Cash you need upfront
Loan $630,000 · LVR 90%
Estimates only. Stamp duty and LMI vary by lender, insurer, state and individual circumstances. LMI is usually added to the loan rather than paid in cash. Confirm all figures with the lender, insurer and your conveyancer.
How brokers use this
- Reset the “20% deposit” myth. Many clients think they can’t buy without 20%. Show them a 10% path with LMI capitalised and watch the goal suddenly feel achievable.
- Make LMI make sense. Compare the LMI cost against another year or two of saving while prices move — a powerful, honest way to help a client decide.
- Nail the savings target. Give first-home buyers one clear number to save toward, including the costs they always forget (duty, conveyancing, fees).
- Cross-check the guarantee angle. If cash is tight, this frames the conversation about a guarantor or a low-deposit scheme to avoid or reduce LMI.
What upfront costs are involved in buying?
The deposit is only part of the cash a buyer needs. On top of it sit stamp duty (often the biggest single cost after the deposit), conveyancing or legal fees, a building and pest inspection, loan and government registration fees, and — where the deposit is below 20% — Lenders Mortgage Insurance. LMI protects the lender, not the borrower, and is usually added to the loan so it doesn’t have to be paid in cash, though it does increase repayments.
This calculator estimates the deposit from your chosen percentage, works out the loan amount and LVR, then adds an indicative stamp duty (with a first-home-buyer option) plus typical conveyancing, lender and government fees to show the total cash required — and separates out LMI, which can usually be capitalised into the loan.
Frequently asked questions
How much deposit do I really need?
Lenders often accept 5–10% for owner-occupiers, but below 20% you’ll usually pay LMI (unless you use a guarantor or eligible scheme). Beyond the deposit, budget for stamp duty and other upfront costs — this calculator brings them together so you can set a realistic savings target.
Can LMI be added to the loan?
In most cases yes — LMI is commonly capitalised so you don’t pay it in cash, though it increases your loan balance and repayments and may push you over a lender’s maximum LVR. A broker can confirm how a specific lender treats it.
How can I avoid LMI?
Common paths are a 20% deposit, a family guarantee (guarantor) securing part of the loan, or an eligible government scheme such as a first home guarantee. Some lenders also waive LMI for certain professions. A broker can check what you qualify for.
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Disclaimer: This calculator provides indicative estimates for general information only and is not credit assistance, a quote, or financial advice. Stamp duty, LMI and fees vary by lender, insurer, state and circumstance and are estimates only. LMI is typically capitalised into the loan. Confirm all figures with the lender, insurer, state revenue office and your conveyancer.