Free resource
Deposit Cheatsheet
Your complete guide to home loan deposits. Getting into the property market doesn't always mean saving 20% of the purchase price — this cheatsheet covers the deposit strategies that actually work in 2026, from the expanded 5% Deposit Scheme to existing equity and family support. Figures verified June 2026.
At Equilend, we work with 40+ lenders to find the right deposit solution for your situation.
Download the PDF cheatsheetThe shortlist
5 Proven Ways to Get Your Deposit
Genuine Savings
5% of purchase price
Money saved over 3+ months in your bank account
- Bank statements required
- Must show consistent saving pattern
- Include gift money (with declaration)
Equity from Existing Property
Up to 80% LVR
Use equity from your current home without selling
- Property revaluation needed
- Can combine with cash savings
- Fastest path to second property
5% Deposit Scheme (First Home Guarantee)
5% deposit only
Government-backed scheme for first home buyers — expanded from October 2025
- No LMI with a 5% deposit
- Unlimited places and no income caps (since 1 Oct 2025)
- NSW property price cap: $1.5 million
Family Guarantee
0-5% deposit
Family member uses their property as security
- Parents or siblings can help
- No LMI in most cases
- Released after 2 years typically
Gifted Deposit
Varies by lender
Money gifted from family members
- Must be genuine gift (not loan)
- Statutory declaration required
- Usually combined with 5% genuine savings
While you save
Quick Savings Tips
- Automate savings transfers on payday
- Cut subscription services you don't use
- Use the 50/30/20 budget rule
- Take advantage of the First Home Super Saver Scheme
- Consider a high-interest savings account
- Track every dollar with KeyReady — our free app
The budget is the strategy
Get KeyReady — not just deposit-ready
A deposit is the byproduct of a budget that works. Cut the leaks first, then point what you save at the goal — and keep your statements clean while you do it. Every tactic below maps to a feature in KeyReady, our free budgeting app, which does the work for you: it reads your bank statements on your device (nothing is uploaded), builds your budget, and tracks your deposit goal.
Find the forgotten subscriptions
Most households carry $40–$60 a month of services they stopped using.
In the app: Insights flags them automatically from your statements
Build the budget from your real spending
Not a blank spreadsheet of good intentions — your actual history.
In the app: Budget proposes a per-category plan from your imports
Trim discretionary spending ~10%
Small enough to survive, big enough to compound month after month.
In the app: The what-if slider shows how many months sooner you hit your deposit
See bills before they land
A quiet fortnight shouldn't fool you into overspending.
In the app: Upcoming bills are predicted from your recurring payments
Pay down cards — then close them
Lenders assess you on the limit, not the balance.
In the app: Debt Planner orders payoffs to save the most interest
Put a date on the goal
“One day” never arrives; a projected month does.
In the app: Deposit Goal projects your ready date from your real savings rate
Know the thresholds
Deposit Requirements by Lender Type
| Lender Type | Minimum Deposit | Max LVR |
|---|---|---|
| Major Banks (CBA, ANZ, Westpac, NAB) | 20% (or 5% with LMI) | 95% |
| Second-Tier Lenders | 10% genuine savings | 90% |
| Specialist Lenders | 5% (various programs) | 95% |
| Non-Bank Lenders | 10-20% typically | 80-90% |
*LVR = Loan-to-Value Ratio. LMI = Lenders Mortgage Insurance (applies above 80% LVR)
Jargon, decoded
Key Terms to Know
- LVR (Loan-to-Value Ratio)
- Percentage of property value you're borrowing (e.g., 80% LVR = 20% deposit)
- LMI (Lenders Mortgage Insurance)
- Insurance paid by borrower when deposit is less than 20%
- Genuine Savings
- Money saved consistently over 3+ months in your account
- Equity
- Difference between your property's value and what you owe on the mortgage
Talk it through
Which deposit strategy fits your situation?
Let's work out which path gets you into the market sooner — and which lenders will say yes.
Disclaimer: General information only. Credit criteria and lending policies vary between lenders. Consider your circumstances and seek independent advice. Equilend Pty Ltd (ACN 675 827 522) is a Credit Representative Number (571123) of Australian Credit Licence (384704).
Take the next step
Twenty minutes. Straight answers.
Book a free call and walk away knowing your borrowing power, your options, and whether your current loan still stacks up — whatever you decide to do next.