how much deposit need ???
 

:blink: hi folks been a while weve been sooo busy sold house settled debts shipped belongings away etc etc my oh is still worried about cash situation,were not taking tons of cash were just looking for a new way of life but still want a nice little place to call home,were looking to buy for around $280 to $340,000 and were wondering how much deposit we will need,im not sure if its 10%,were looking to rent for 6 to 12 months,any ideas:D ps we fly out on 22 feb from manchester via singapore,squeeky bottom time :blink:

Re: how much deposit need ???
 

hi there check out the mortgage calculator and loan companies on this link

http://www.realestate.com.au/

Re: how much deposit need ???
 

where are you heading to?

Re: how much deposit need ???
 

If you want to avoid mortgage insurance it has to be a 20%+ deposit (QLD anyway) anything below that and you will be paying it.

Re: how much deposit need ???
 

Same in WA.

Re: how much deposit need ???
 

How much does mortgage insurance cost?
Tracie

Re: how much deposit need ???
 

It's a percentage of the mortgage.

Re: how much deposit need ???
 

thankyou for the info everybody,ianand helena were heading to ferny grove with family for first couple weeks then weve been considering places like mango hill, jindalee, kallangur, but were gonna decide when we get there,where you heading ?:D

Re: how much deposit need ???
 

The % decreases the closer you get to 20% deposit in most cases, so it may start at 2.5% of the loan amount and scale down to 0% when you reach 20% deposit....