20% of $700,000
20% of $700,000.00
$140,000.00
20% of $700,000.00 is $140,000.00.
Quick answer
20% of $700,000 is $140,000. That's the deposit size Australian lenders generally require before waiving Lenders Mortgage Insurance (LMI) on a home loan. Reaching 20% instead of a smaller deposit means borrowing less and skipping LMI, at the cost of a longer time spent saving. Try other percentages and prices above.
Explore more Maths calculators
20% of $700,000 is one of numbers, percentages and conversion tools on OneCalculate — see the full set for this category.
Browse MathsHow it works
The formula for any percentage is result = base × (percent ÷ 100). Here that’s $700,000 × (20 ÷ 100) =
$140,000. In Australian home lending, 20% is the deposit threshold most banks use to decide whether to
charge Lenders Mortgage Insurance (LMI) — a one-off insurance premium that protects the lender, not the
borrower, if the deposit is smaller. Moneysmart’s guide to LMI
explains how the premium is calculated and when it applies.
Worked example
Ebony is buying a $700,000 house in Perth, Western Australia, and wants to avoid paying Lenders Mortgage Insurance on top of her mortgage. Her bank confirms that a 20% deposit clears the LMI threshold entirely. 20% of $700,000 is $700,000 × 0.20 = $140,000 — so Ebony needs to save $140,000 before she applies, against a $560,000 loan. That’s $105,000 more than a 5% deposit on the same house would need, but it also means no LMI premium and a smaller loan balance from day one.
Frequently asked questions
What is 20% of $700,000?
20% of $700,000 is $140,000 — multiply $700,000 by 0.20, or divide it by 5.
Why is 20% the magic deposit number for home loans?
Most Australian lenders charge Lenders Mortgage Insurance (LMI) on any deposit below 20% of the property value. At 20% or above, LMI is typically waived because the lender's risk is considered low enough without it.
Is it better to save a 20% deposit or buy sooner with less?
It depends on your situation. A 20% deposit avoids LMI and reduces your loan size, but it takes longer to save. A smaller deposit gets you into the market sooner but usually costs more in interest and LMI over time.
How much is 5% of $700,000, for comparison?
5% of $700,000 is $35,000 — a quarter of the $140,000 needed for a full 20% deposit.
Related calculators
Written and verified by Nirbhay Tripathi
Last updated 18 August 2026
All rates on this page are verified againstMoneysmart — Saving for a home deposit, Moneysmart — Lenders mortgage insurance (LMI)on 18 August 2026. See our methodology for the full update calendar.