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

    Suncorp

    2.78% p.a. variable

    2.79% 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. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.

    • $0.00

    • $350.00

    • Yes - free

    • first redraw per month free

    • no

    • $0

    • 2.78% p.a. variable

    • 2.79% p.a.

    • $0

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 30 September 2020 and settled by 29 December 2020.

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

  • Promoted

    Newcastle Permanent

    2.72% p.a. variable

    2.76% p.a.

    $1234

    Product details Close details
    Special Real Deal Home Loan

    No ongoing fees. Ability to split your loan between fixed and variable. Winner of Mozo Experts Choice Award 2019 for First Home Buyer Loan & Investor Home Loan^.

    • $0.00

    • $0.00

    • yes - free

    • yes - fees apply

    • yes - partial only

    • $0

    • 2.72% p.a. variable

    • 2.76% p.a.

    • $0

    • 80.00%

    • $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

    People's Choice Credit Union

    2.69% p.a. variable

    2.69% p.a.

    $1234

    Product details Close details
    Basic Variable Home Loan

    A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.

    • $0.00

    • $350.00

    • yes - free

    • yes - free

    • no

    • $0

    • 2.69% p.a. variable

    • 2.69% p.a.

    • $0

    • 80.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

  • Promoted

    Yard

    2.66% p.a. variable

    2.69% p.a.

    $1234

    Product details Close details
    Variable Home Loan

    Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $835

    • 2.66% p.a. variable

    • 2.69% p.a.

    • $835

    • 90.00%

    • $150,000

    • $5,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Variable Home 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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