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

    3.04% p.a. variable

    3.06% p.a.

    $1234

    Product details Close details
    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.

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 3.04% p.a. variable

    • 3.06% p.a.

    • $520

    • 90.00%

    • $50,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Essentials Variable 90

  • Promoted

    Tic:Toc

    2.84% p.a. variable

    2.85% p.a.

    $1234

    Product details Close details
    Variable Home Loan

    Get full approval online. Award-winning platform could save you thousands with super-low rates. No application, valuation or settlement fees. Fee-free redraws and extra repayments. Optional offset account for $10 per month. Winner of a Mozo Experts Choice Award 2019 for Online Home Lender of the Year 2019.^

    • $0.00

    • $325.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • 2.84% p.a. variable

    • 2.85% p.a.

    • $0

    • 90.00%

    • $50,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Variable Home Loan

  • Promoted

    Newcastle Permanent

    3.19% p.a. variable

    3.23% p.a.

    $1234

    Product details Close details
    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.^

    • $0.00

    • $0.00

    • yes - free

    • yes - fees apply

    • yes - partial only

    • 3.19% p.a. variable

    • 3.23% p.a.

    • $0

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Special Real Deal Home Loan

  • Promoted

    ANZ

    4.79% p.a. variable

    4.89% p.a.

    $1234

    Product details Close details
    Standard Variable Rate

    • $5.00 monthly

    • $160.00

    • yes - free

    • yes

    • yes

    • 4.79% p.a. variable

    • 4.89% p.a.

    • $600

    • 90.00%

    • $20,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Refinance by 31 January 2020 to receive up to $3,500 cash back depending on the loan amount with an ANZ linked transaction account.

    Read our Mozo Review to learn more about the Standard Variable Rate

  • Promoted

    Suncorp

    3.03% p.a. variable

    3.04% p.a.

    $1234

    Product details Close details
    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.

    • $0.00

    • $350.00

    • Yes - free

    • first redraw per month free

    • no

    • 3.03% p.a. variable

    • 3.04% p.a.

    • $0

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Back to Basics Special

  • Promoted

    CUA

    3.20% p.a. variable

    3.25% p.a.

    $1234

    Product details Close details
    Achieve Variable Home Loan

    No Loan Establishment Fee, annual or monthly account keeping fees. Enjoy the flexibility of being able to make unlimited extra repayments without penalty. Borrow up to 90% of the property value.

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • yes - partial up to $15,000 maximum

    • 3.20% p.a. variable

    • 3.25% p.a.

    • $835

    • 90.00%

    • $100,000

    • $249,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Achieve Variable Home Loan

  • Promoted

    Heritage Bank

    3.37% p.a. variable

    3.73% p.a.

    $1234

    Product details Close details
    Variable Rate Loan Home Advantage

    • $350.00 yearly

    • $250.00

    • yes - free

    • yes - free

    • yes

    • 3.37% p.a. variable

    • 3.73% p.a.

    • $150

    • 90.00%

    • $150,000

    • $249,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • First year $350 annual fee waived for applications made before 30 November 2019 and funded by 31 March 2020.

    Read our Mozo Review to learn more about the Variable Rate Loan

*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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