16/09/2026
🏡 Think you need a 20% deposit to buy your first home? Not necessarily.
One of the biggest questions we hear from first home buyers across Sydney and Australia is:
“How much deposit do I actually need?”
A 20% deposit is generally preferred by lenders because it can help you avoid Lenders Mortgage Insurance (LMI).
But here's the part many first home buyers don't realise 👇
Depending on your financial position, income, savings, borrowing capacity and lender criteria, some lenders may consider applications with deposits of 5–10%.
So if you've been thinking:
❌ “I don't have a 20% deposit, so I can't buy.”
…it may be worth understanding your options before ruling yourself out.
The important question isn't simply “How much have I saved?”
It's:
“What could I potentially afford, and what loan options may be available for my circumstances?”
That's where getting the right guidance before you start seriously searching for a property can make the process much clearer.
📍 Buying your first home in Sydney?
💬 Have questions about your deposit, borrowing capacity or pre-approval?
Send Financio a message and start with a conversation.