5% of $700,000
5% of $700,000.00
$35,000.00
5% of $700,000.00 is $35,000.00.
Quick answer
5% of $700,000 is $35,000. That's the deposit needed for a 5% deposit on a $700,000 house, the minimum some Australian low-deposit home loan schemes accept. A first home buyer in Melbourne could use this as a starting deposit target, though most standard loans still require Lenders Mortgage Insurance below 20% deposit. Try any numbers above.
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5% of $700,000 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 $700,000 × (5 ÷ 100) = $35,000. A 5% figure like
this comes up most often as a minimum deposit benchmark on Australian low-deposit home loans — see Moneysmart’s
guide to saving for a home deposit for how
lenders assess deposit size.
Worked example
Daniel is a first home buyer in Melbourne, Victoria, eyeing a $700,000 townhouse. His bank tells him some low-deposit loan products only need 5% down, so he wants to know exactly what that looks like in dollars. Using the formula, 5% of $700,000 is $700,000 × 0.05 = $35,000. That’s the deposit Daniel needs to save before he can apply — though with a deposit that small, he’ll almost certainly also be charged Lenders Mortgage Insurance (LMI), since most lenders only waive it above a 20% deposit.
Frequently asked questions
What is 5% of $700,000?
5% of $700,000 is $35,000. You get this by multiplying $700,000 by 0.05 (or dividing by 20).
Is a 5% deposit enough to buy a $700,000 house in Australia?
Some low-deposit home loan schemes and guarantor loans accept a 5% deposit, but most standard lenders require Lenders Mortgage Insurance (LMI) on any deposit below 20%, which adds a significant extra cost — see Moneysmart's home deposit guide for details.
How do I calculate a percentage of a dollar amount?
Multiply the dollar amount by the percentage and divide by 100. For example, 5% of $700,000 is $700,000 × 5 ÷ 100 = $35,000.
What's 10% of $700,000, for comparison?
10% of $700,000 is $70,000 — exactly double the 5% figure, since 10% is twice 5%.
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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.