This helps you determine the deposit you’ll likely need for a specific property purchase, which is typically a percentage of the property’s value. Start by inputting the price of the property you’re considering, and the calculator will show the deposit amount required. Lender requirements may change the specific figure, but it’s usually around 5-20%.
You can also factor in any loan insurance costs if your deposit is less than 20%, so it’s a great way of seeing how close you are to reaching your deposit goal.
