Check whether your deposit counts as genuine savings: where it came from matters to a lender as much as how much there is.
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Usually, if at least 5 per cent of the price has built up in your own account over three months or more. The checker shows where your deposit is likely to land.
Gifts, inheritances and asset sales count as deposit but not always as genuine savings, and some lenders accept 12 months of rent paid through an agent instead.
Part of the first home buyer loans guide.
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Having part of your deposit not count as genuine savings is common, and it is usually workable. Some lenders take a different view from others, rent history can sometimes substitute, and a guarantor arrangement changes the question entirely.
The important thing is knowing before you submit, because a declined application is harder to recover from than a well chosen first one.
Statements covering the period the deposit accumulated over, and a clear account of any large single deposits into that account. If a family gift is part of it, a gift letter is almost always requested; there is a template on this site you can copy.
Broadly, funds you have accumulated and held yourself over a period, evidenced by statements. The precise definition and the required period vary between lenders, which is exactly why a deposit that fails at one lender can be accepted at another.
Not as genuine savings, but it can still count: lenders usually want a gift documented, and depending on the lender and how long the money has been held, it can support the application. The gifted deposit guide and the gift letter template cover the paperwork.
Sometimes: some lenders accept a documented rental history instead, on the basis that paying rent consistently shows the same capacity. It is not universal, so confirm before relying on it.
Sale proceeds are usually acceptable with evidence of the sale and the funds arriving, though treatment varies. The documentation matters more here than in most cases, because the lender is establishing where the money came from.
Commonly three months, but it varies by lender, so confirm the figure before you apply: missing it by a short period is a common, avoidable delay.
Charles will tell you whether your deposit will stand up, and which lenders take a workable view if part of it will not. Free, no credit check.
Estimates only, not credit or financial advice. This tool uses general assumptions and cannot see your credit file, verify your income or apply any particular lender's policy. Your position is confirmed in a full assessment.
Official sources for the figures on this page: Housing Australia, 5% Deposit Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
