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

    2.79% p.a. variable

    2.81% 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

    • $520

    • 2.79% p.a. variable

    • 2.81% 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

    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. Minimum 10% deposit.

    • $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 18 December 2020 and settled by 26 March 2021.

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

  • Promoted

    IMB Bank

    2.39% p.a.
    fixed 3 years

    3.08% p.a.

    $1234

    Product details Close details
    Fixed Home Loan

    The IMB Fixed Rate Home Loan gives you peace of mind with the security of fixed loan repayments. You can also pay up to 12 months repayments in advance without penalty.

    • $6.00 monthly

    • $350.00

    • yes - free up to 1 year in advance

    • yes - free

    • no

    • $799

    • 2.39% p.a.
      fixed 3 years

    • 3.08% p.a.

    • $799

    • 90.00%

    • $10,000

    • $5,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

  • Promoted

    AMP Bank

    2.49% p.a.
    fixed 3 years

    3.07% p.a.

    $1234

    Product details Close details
    Fixed Rate Loan Professional Package

    Enjoy a fixed rate with the AMP Bank Professional Package Home Loan. Minimum 20% deposit required. Other rates available for interest only option. Pre-qualify today.

    • $349.00 yearly

    • $350.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $295

    • 2.49% p.a.
      fixed 3 years

    • 3.07% p.a.

    • $295

    • 80.00%

    • $100,000

    • $499,999

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

  • Promoted

    Yard

    2.65% p.a. variable

    2.68% 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

    • 2.65% p.a. variable

    • 2.68% 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

  • Promoted

    Suncorp

    2.49% p.a.
    fixed 3 years

    3.28% p.a.

    $1234

    Product details Close details
    Fixed Home Loan Special Offer Home Package Plus

    No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.

    • $375.00 yearly

    • $350.00

    • yes - free up to $500 per month

    • no

    • no

    • $0

    • 2.49% p.a.
      fixed 3 years

    • 3.28% p.a.

    • $0

    • 90.00%

    • $150,000

    • -

    • Fixed

    • 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 18 December 2020 and settled by 26 March 2021.

    Read our Mozo Review to learn more about the Fixed Home Loan Special Offer

  • Promoted

    loans.com.au

    2.88% p.a.
    fixed 3 years

    2.89% p.a.

    $1234

    Product details Close details
    Fixed Home Loan

    This home loan is available for purchase or refinance, complete with 1, 2 or 3 year fixed rate options. Minimum 10% deposit required.

    • $0.00

    • $0.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $520

    • 2.88% p.a.
      fixed 3 years

    • 2.89% p.a.

    • $520

    • 90.00%

    • $50,000

    • $1,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed 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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