5% of $450,000
5% of $450,000.00
$22,500.00
5% of $450,000.00 is $22,500.00.
Quick answer
5% of $450,000 is $22,500. For a first-home-buyer in a regional city like Bendigo, that's the deposit needed to buy under the First Home Guarantee scheme, which lets eligible buyers purchase with just 5% down and skip Lenders Mortgage Insurance — instead of the $90,000 a standard 20% deposit would require.
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5% of $450,000 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 $450,000 × (5 ÷ 100) = $22,500. A deposit this size
sits under the price cap for the Australian Government’s First Home Guarantee in many regional areas, which
lets eligible first home buyers purchase with just 5% down and skip Lenders Mortgage Insurance (LMI) — see
Moneysmart’s guide to saving for a home deposit
for how eligibility and price caps work.
Worked example
Hannah is a nurse renting in Bendigo, Victoria, and has found a two-bedroom unit listed at $450,000 close to the hospital where she works. Saving a full 20% deposit felt years away, so she started looking at low-deposit options instead. Using the formula: $450,000 × 5% = $22,500. That’s the deposit she’d need to qualify for the First Home Guarantee, which — subject to meeting the income and property price cap conditions — would let her buy with just 5% down and skip the LMI premium a smaller deposit would normally attract.
Frequently asked questions
What is 5% of $450,000?
5% of $450,000 is $22,500. You get this by multiplying $450,000 by 0.05 (or dividing by 20).
How do I calculate a home deposit percentage?
Multiply the property price by the deposit percentage expressed as a decimal. For a 5% deposit on a $450,000 home, that's $450,000 × 0.05 = $22,500.
Can I buy a house with a 5% deposit in Australia?
Yes, if you're eligible for a government scheme like the First Home Guarantee, which lets eligible first home buyers purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance. Outside a scheme like this, most lenders still require LMI on deposits under 20%.
How much would a 20% deposit be on the same $450,000 house?
A 20% deposit on $450,000 is $90,000 — four times the size of the 5% deposit — but reaching it means avoiding Lenders Mortgage Insurance altogether.
What other costs are there beyond the deposit?
Budget separately for stamp duty (unless exempted for first home buyers), conveyancing, building and pest inspections, and loan establishment fees — none of these are included in the 5% deposit figure.
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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.