10% of $600,000
10% of $600,000.00
$60,000.00
10% of $600,000.00 is $60,000.00.
Quick answer
10% of $600,000 is $60,000. That's a middle-ground deposit for a buyer who wants to borrow less than a 5% deposit would require, but can't yet reach the standard 20% needed to avoid Lenders Mortgage Insurance (LMI) — a smaller loan and a smaller LMI premium than a 5% deposit would leave them with.
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10% of $600,000 is one of numbers, percentages and conversion tools on OneCalculate — see the full set for this category.
Browse MathsHow it works
To find a percentage of a number, multiply the number by the percentage and divide by 100:
result = base × (percent ÷ 100). For this page, that’s $600,000 × (10 ÷ 100) = $60,000. Ten percent sits
between the 5% minimum some low-deposit schemes accept and the standard 20% Australian lenders look for before
waiving Lenders Mortgage Insurance (LMI) — see Moneysmart’s guide to
saving for a home deposit for how deposit size
affects your borrowing options.
Worked example
Ryan works as a paramedic in Coffs Harbour, on the NSW Mid North Coast, and has found a four-bedroom house listed at $600,000. He doesn’t qualify for a low-deposit guarantee scheme, but reaching the full 20% deposit would take another two years on his income, so he’s settled on a 10% deposit as a practical middle ground. The calculation: $600,000 × 10% = $60,000. That’s what Ryan needs saved, against a $540,000 loan. He’ll still pay Lenders Mortgage Insurance on a deposit this size, but the premium — and the loan itself — is smaller than it would be with just 5% down, and he gets into the market two years sooner than waiting for 20%.
Frequently asked questions
What is 10% of $600,000?
10% of $600,000 is $60,000. You get this by multiplying $600,000 by 0.10 (or dividing by 10).
How do I calculate a home deposit percentage?
Multiply the property price by the deposit percentage expressed as a decimal. For a 10% deposit on a $600,000 property, that's $600,000 × 0.10 = $60,000.
Does a 10% deposit avoid Lenders Mortgage Insurance (LMI)?
No — most Australian lenders only waive LMI at a 20% deposit or above. A 10% deposit means a smaller loan and a smaller LMI premium than a 5% deposit, but you'll still typically pay some LMI unless you qualify for a guarantee scheme.
How much would a 20% deposit be on the same $600,000 property?
A 20% deposit on $600,000 is $120,000 — double the 10% figure — but it avoids Lenders Mortgage Insurance entirely.
How much would a 5% deposit be, for comparison?
5% of $600,000 is $30,000 — half of the 10% figure — the minimum some low-deposit schemes accept, though it usually attracts a larger LMI premium.
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Written and verified by Nirbhay Tripathi
Last updated 18 August 2026
All rates on this page are verified againstMoneysmart — Saving for a home depositon 18 August 2026. See our methodology for the full update calendar.