The deposit for a $900,000 house starts at $45,000: an eligible first home buyer needs 5% under the 5% Deposit Scheme, without mortgage insurance. Because $900,000 is inside the NSW concession band, that buyer also pays about $19,594 of duty, so the real cash need is closer to $65,000. A 20% deposit is $180,000.

Deposit routes on a $900,000 home
Route Deposit Loan LMI Transfer duty
5% with the 5% Deposit Scheme $45,000 $855,000 $0 $19,594 for an eligible first home buyer
10% standard loan $90,000 $810,000 about $20,000 to $30,000 $19,594 first home buyer, $34,687 otherwise
20% $180,000 $720,000 $0 $19,594 first home buyer, $34,687 otherwise

Why does each extra dollar above $800,000 cost 25 cents in cash?

For a first home buyer with a 5% deposit, each dollar of price above $800,000 needs 5 cents more deposit and about 19.6 cents more duty, because the concession tapers off towards $1 million. Below $800,000 it is 5 cents. Above $1 million, about 9.5 cents. Between $800,000 and $1 million the cash need rises five times faster than the price.

First home buyer cash from $800,000 to $1 million (5% deposit)
Price Deposit Duty Deposit plus duty
$800,000 $40,000 $0 $40,000
$850,000 $42,500 $9,797 $52,297
$900,000 $45,000 $19,594 $64,594
$950,000 $47,500 $29,390 $76,890
$1,000,000 $50,000 $39,187 $89,187

What income goes with a $855,000 loan?

On our assumptions about $185,000 single or $192,000 as a couple with no other debts. Repayments about $5,126 a month at 6%. See income needed for a $900k home loan for the round figure.

Can a parent help instead of a bigger deposit?

Yes. A family guarantee secures part of the loan against a parent’s property, so the buyer can borrow the full price plus costs without LMI. Savings then go to the duty. See guarantor home loans.

How long does it take to save a deposit on $900,000?

Saving $2,000 a month, the 5% deposit on $900,000 takes 22 months, ignoring interest and price movements.

Time to save each deposit on $900,000
Saving 5% ($45,000) 10% ($90,000) 20% ($180,000)
$1,000 a month 3.8 years 7.5 years 15.0 years
$2,000 a month 22 months 3.8 years 7.5 years
$3,000 a month 15 months 2.5 years 5.0 years

How much cash do you need on top of the deposit?

  • Duty: $34,687 for most buyers, $19,594 for an eligible first home buyer.
  • Transfer and mortgage registration: $365.
  • Conveyancing, inspections and lender fees: your quotes.
  • Council and water rates: adjusted between buyer and seller at settlement, usually a few hundred dollars either way.

What does mortgage insurance cost with 10% down on $900,000?

About $20,000 to $30,000 on a $810,000 loan, depending on the lender and your profile. Most lenders let you add it to the loan. That avoids paying it in cash, but you pay interest on it for the life of the loan.

What are the repayments with each deposit on $900,000?

  • 5% down: a $855,000 loan, $5,126 a month at 6% over 30 years, plus mortgage insurance unless a scheme or waiver applies.
  • 10% down: a $810,000 loan, $4,856 a month at 6% over 30 years, plus mortgage insurance unless a scheme or waiver applies.
  • 20% down: a $720,000 loan, $4,317 a month at 6% over 30 years.

The gap between 5% and 20% down is $809 a month for 30 years.

What can cut the deposit on a $900,000 house?

  • The 5% Deposit Scheme: $45,000 down with no mortgage insurance, for eligible buyers under the $1.5 million Sydney cap.
  • Help to Buy: as little as 2% ($18,000) with the government taking a share, if your income is under $103,000 single or $165,000 joint and the price is within the cap.
  • A family guarantee: parents’ equity stands in for the deposit, so the cash needed can be costs only. See buying with no deposit.
  • An LMI waiver if your profession qualifies: 10% ($90,000) down without mortgage insurance at some lenders.

Close by: the deposit for an $800,000 or a $1 million house. For any other price, use the deposit calculator.

Questions people ask

How much deposit do I need for a $900,000 house?

$45,000 with the 5% Deposit Scheme, $90,000 at 10% with LMI, or $180,000 to avoid LMI without help.

How much stamp duty on a $900,000 home for a first home buyer?

About $19,594 in NSW. Other buyers pay $34,687. See stamp duty on $900k.

Is a $900,000 home within the 5% Deposit Scheme cap?

In Sydney and the regional centres, yes (cap $1.5 million). Elsewhere in NSW the cap is $800,000.

Is it worth offering $800,000 instead of $900,000?

For an eligible first home buyer the $100,000 difference saves about $24,594 of cash at a 5% deposit, before the smaller loan.

Charles Touma works out the deposit, duty and loan for the exact property and checks the scheme for the postcode. A free 30-minute call covers what you could buy. General information only, not credit advice. Lender policies change, and your own circumstances decide what suits you.

Sources: Housing Australia, 5% Deposit Scheme; Housing Australia, 5% Deposit Scheme price caps; Revenue NSW, First Home Buyers Assistance Scheme; Revenue NSW, transfer duty rates 2026-27, checked 27 October 2026.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.