To buy a house, you generally need a minimum of 10% of the price of the house, however, 20% is considered the standard. This doesn’t mean it’s impossible to buy a home with a smaller deposit, but to be honest, the bigger the deposit, the better. It also helps to reduce borrowing and future repayments.
Should you not quite have the 20% saved, we do have access to a couple of lenders that support funding up to an 85% LVR whilst also avoiding LMI.
(video)