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How much deposit do I need to get a home loan?

If you’re looking to buy your very first home, with BCU Bank you can borrow up to a loan to value ratio (LVR) of 95%. 

As a general guide you'll need a minimum 5% deposit plus your settlement fees and Lenders Mortgage Insurance (LMI) fees. LMI fees will apply if you don’t have a 20% deposit plus settlement fees.

You may qualify to take out (LMI) for deposits less than 20% of the property value.

Read five simple tips to save for a home deposit