Calculators · Buying
How far off is your deposit?
Set your target and what you can save each month to see how long the deposit will take. Then let's talk about getting there sooner.
Deposit goal
A guide only, and it doesn't include stamp duty or other upfront costs. Some first home buyers can get in with a smaller deposit through a government scheme.
Time to reach your deposit
5 yrs
To save a 20% deposit of $160,000.
You might need less than you think
Twenty percent is the level where you avoid lenders mortgage insurance, but plenty of buyers get in with far less. Some first home buyers buy with as little as 5% through a government scheme, sometimes with no LMI at all, which can bring your timeline forward by years.
It's worth knowing your real options before you keep saving on autopilot. See my first home buyer support and the deposit guide.
Could you buy sooner than this?
Book a free call and I'll check which schemes you qualify for and what deposit you really need.
Important information
This information is general in nature and does not take your personal objectives, financial situation, or needs into account. It is not credit assistance or a recommendation to enter into any particular credit contract. Consider whether it is right for you and seek advice before acting. Lending is subject to a lender's eligibility and approval criteria. Terms, conditions, fees, and charges apply. This is a general savings estimate and does not include stamp duty or other upfront costs, investment returns, or interest on savings. Scheme eligibility should be confirmed for your situation.
Greenwood Finance · ABN 23 671 049 693 · Credit Representative No. 551942.