10% of $750,000

How it works

The formula is the same for any percentage question: result = base × (percent ÷ 100). Here, $750,000 × (10 ÷ 100) = $75,000. A 10% deposit is a common middle ground for Australian property buyers — above the minimum some low-deposit schemes accept, but below the 20% threshold most lenders use to waive Lenders Mortgage Insurance. See Moneysmart’s guide to saving for a home deposit for how deposit size affects your loan.

Worked example

Lachlan has spent the past four years working as a paramedic in Hobart, Tasmania, and has found a three-bedroom weatherboard cottage in a quiet suburb listed at $750,000. His bank has approved him for a low-deposit loan requiring just 10% down, rather than the full 20% he’d originally budgeted for. The calculation: $750,000 × 10% = $75,000. That’s the deposit Lachlan needs before settlement, against a $675,000 loan. Because his deposit sits below the 20% LMI-free threshold, he’ll also pay a Lenders Mortgage Insurance premium — a trade-off he’s accepted to get into Hobart’s market roughly two years sooner than saving the full 20% would take.