How to borrow with a 5 to 10% deposit

Mozo

08 Oct 2018

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Looking to make your first move into the property market? A low deposit home loan could be your ticket to home ownership. If you've got a 5% or 10% deposit saved up, you'll be relieved to hear that plenty of lenders are still offering competitive low deposit home loans to first home buyers.

Compare home loans that require just a 5% or 10% percent deposit using the table below, and find out how you can buy that first property faster.

Low Deposit Home Loan Comparisons - rates updated daily

Promoted

loans.com.au

3.19% p.a. variable

3.21% p.a.

$1234

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loans.com.au

Essentials Variable 90

Owner Occupier, Principal & Interest

interest
rate

3.19% p.a. variable

comparison
rate*

3.21% p.a.

Initial monthly
repayment**

This low-rate home loan that could save you thousands! With no monthly or ongoing fees and the ability to make unlimited additional repayments. This home loan from popular online lender loans.com.au also features unlimited free redraws with no minimum redraw amount.

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Essentials Variable 90

This low-rate home loan that could save you thousands! With no monthly or ongoing fees and the ability to make unlimited additional repayments. This home loan from popular online lender loans.com.au also features unlimited free redraws with no minimum redraw amount.
- Ongoing fees
  
  $0.00
- Discharge Fee
  
  $0.00
- Extra repayments
  
  yes - free
- Redraw facility
  
  yes - free
- Offset account
  
  no
- interest rate
  
  3.19% p.a. variable
- comparison rate*
  
  3.21% p.a.
- upfront fees
  
  $520
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $50,000
- Maximum loan amount
  
  $2,000,000
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Essentials Variable 90

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Suncorp

3.29% p.a. variable

3.30% p.a.

$1234

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Suncorp

Back to Basics Special

LVR<90%, Owner Occupier, Principal & Interest

interest
rate

3.29% p.a. variable

comparison
rate*

3.30% p.a.

Initial monthly
repayment**

No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Only 10% deposit required. $1500 cashback offer for refinancers of eligible loans more than $250,000 with LVR less than 80%.

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Back to Basics Special

No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Only 10% deposit required. $1500 cashback offer for refinancers of eligible loans more than $250,000 with LVR less than 80%.
- Ongoing fees
  
  $0.00
- Discharge Fee
  
  $350.00
- Extra repayments
  
  Yes - free
- Redraw facility
  
  first redraw per month free
- Offset account
  
  no
- interest rate
  
  3.29% p.a. variable
- comparison rate*
  
  3.30% p.a.
- upfront fees
  
  $0
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $150,000
- Maximum loan amount
  
  -
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
  
  Receive $1,500 when you refinance an existing loan of $250,000 or more. Apply by 30 September 2019 and settle by 28 December 2019.
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Well Home Loans

3.07% p.a. variable

3.09% p.a.

$1234

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Well Home Loans

Well Balanced

Owner Occupier, Principal & Interest, LVR <90%

interest
rate

3.07% p.a. variable

comparison
rate*

3.09% p.a.

Initial monthly
repayment**

A low rate home loan for variable owner occupied loans, up to 90% LVR and no fees. Winner of a Mozo Experts Choice Award 2019 for the Best New Home Loan.^

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Well Balanced

A low rate home loan for variable owner occupied loans, up to 90% LVR and no fees. Winner of a Mozo Experts Choice Award 2019 for the Best New Home Loan.^
- Ongoing fees
  
  $0.00
- Discharge Fee
  
  $300.00
- Extra repayments
  
  yes - free
- Redraw facility
  
  yes - free
- Offset account
  
  Optional - $10 per month
- interest rate
  
  3.07% p.a. variable
- comparison rate*
  
  3.09% p.a.
- upfront fees
  
  $785
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $200,000
- Maximum loan amount
  
  $2,000,000
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Well Balanced

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Newcastle Permanent

3.32% p.a. variable

3.36% p.a.

$1234

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Newcastle Permanent

Special Real Deal Home Loan

Owner Occupier, Principal & Interest

interest
rate

3.32% p.a. variable

comparison
rate*

3.36% p.a.

Initial monthly
repayment**

Free extra repayments. No application or service fees. Only 10% deposit needed. Winner of a Mozo Experts Choice Award 2019 for the First Home Buyer Loan and Investor Home Loan categories.^

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Special Real Deal Home Loan

Free extra repayments. No application or service fees. Only 10% deposit needed. Winner of a Mozo Experts Choice Award 2019 for the First Home Buyer Loan and Investor Home Loan categories.^
- Ongoing fees
  
  $0.00
- Discharge Fee
  
  $0.00
- Extra repayments
  
  yes - free
- Redraw facility
  
  yes - fees apply
- Offset account
  
  yes - partial only
- interest rate
  
  3.32% p.a. variable
- comparison rate*
  
  3.36% p.a.
- upfront fees
  
  $0
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $150,000
- Maximum loan amount
  
  -
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Special Real Deal Home Loan

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Promoted

Heritage Bank

3.52% p.a. variable

3.89% p.a.

$1234

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Heritage Bank

Variable Rate Loan Home Advantage

Owner Occupier, LVR 80-90%

interest
rate

3.52% p.a. variable

comparison
rate*

3.89% p.a.

Initial monthly
repayment**

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Variable Rate Loan Home Advantage
- Ongoing fees
  
  $350.00 yearly
- Discharge Fee
  
  $250.00
- Extra repayments
  
  yes - free
- Redraw facility
  
  yes - free
- Offset account
  
  yes
- interest rate
  
  3.52% p.a. variable
- comparison rate*
  
  3.89% p.a.
- upfront fees
  
  $150
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $150,000
- Maximum loan amount
  
  $249,999
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Variable Rate Loan

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Promoted

HSBC

3.27% p.a. variable

3.28% p.a.

$1234

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HSBC

Discounted Home Value Loan

Owner Occupier, Principal & Interest

interest
rate

3.27% p.a. variable

comparison
rate*

3.28% p.a.

Initial monthly
repayment**

Unlimited free extra repayments and no ongoing service fees when you apply by 31 July (T&C’s apply). Get help with the application process with an HSBC relationship manager. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category.^

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Discounted Home Value Loan

Unlimited free extra repayments and no ongoing service fees when you apply by 31 July (T&C’s apply). Get help with the application process with an HSBC relationship manager. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category.^
- Ongoing fees
  
  $0.00
- Discharge Fee
  
  $300.00
- Extra repayments
  
  yes - free
- Redraw facility
  
  yes - free online
- Offset account
  
  no
- interest rate
  
  3.27% p.a. variable
- comparison rate*
  
  3.28% p.a.
- upfront fees
  
  $150
- Maximum loan to value ratio
  
  90.00%
- Minimum loan amount
  
  $50,000
- Maximum loan amount
  
  $7,500,000
- Type of loan
  
  Variable
- Repayment types
  
  Principal & Interest
- Availability
  
  Owner Occupier
- Repayment options
  
  Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Discounted Home Value Loan

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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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