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95% home loans

You can use a 95% LVR home loan to buy a home with a very small deposit, helping you get into the market faster.

A home loan with a 95% LVR simply means it is available with a 5% deposit. But getting a loan with such a small deposit means your lender will examine your application very carefully and will charge you a lenders mortgage insurance (LMI) premium too.tab

For many borrowers, paying LMI and getting into the market faster is well worth the extra costs.

Compare home loans with 95% LVRs

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1 - 20 of 29
Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Greater Bank logo
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
Greater Bank logo
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
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Product NameGreater Bank Great Rate Discount Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.20%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 110%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.20%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$919
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Up to $2,500 cashback
Eligible refinancers can get up to $2,500 cashback depending on loan value. Full terms and conditions apply.
G&C Mutual Bank logo
Principal & Interest5% min. depositOwner-occupierOffset accountSpecial Offer
G&C Mutual Bank logo
Principal & Interest5% min. depositOwner-occupierOffset accountSpecial Offer
Product NameG&C Mutual Bank First Home Buyer
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.02%
Minimum Loan Amount$0
Maximum Loan Amount $5,000,000
Maximum Loan Term40 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.02%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
Community First Bank logo
Principal & Interest5% min. depositOwner-occupier
Community First Bank logo
Principal & Interest5% min. depositOwner-occupier
Product NameCommunity First Bank Basic Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.94%
Comp. Rate p.a.5.99%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,000,000
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.94%
Comparison Rate
5.99%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$895
Beyond Bank logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
Beyond Bank logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
Product NameBeyond Bank First Home Buyers Total Home Loan Package Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.94%
Comp. Rate p.a.7.59%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.94%
Comparison Rate
7.59%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$895
Beyond Bank logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Beyond Bank logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Product NameBeyond Bank First Home Buyers Total Home Loan Package Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.94%
Comp. Rate p.a.7.75%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.94%
Comparison Rate
7.75%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$895
bcu logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
bcu logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Product NameBCU Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.21%
Minimum Loan Amount$20,000
Maximum Loan Amount $2,500,000
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments No
Interest Rate
5.99%
Comparison Rate
6.21%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
IMB logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
IMB logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
Product NameIMB Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.32%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.32%
Fees
Application: $449
Ongoing: $6 p.a.
Monthly Payment
$900
Easy Street logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupierOffset account
Easy Street logo
Principal & Interest 2Y Fixed5% min. depositOwner-occupierOffset account
Product NameEasy Street Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.09%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.04%
Comparison Rate
6.09%
Fees
Application: $500
Ongoing: $0 p.a.
Monthly Payment
$905
Easy Street logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupierOffset account
Easy Street logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupierOffset account
Product NameEasy Street Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.09%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,000,000
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.04%
Comparison Rate
6.09%
Fees
Application: $500
Ongoing: $0 p.a.
Monthly Payment
$905
Easy Street logo
Principal & Interest5% min. depositOwner-occupierOffset account
Easy Street logo
Principal & Interest5% min. depositOwner-occupierOffset account
Product NameEasy Street Smart Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.09%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.04%
Comparison Rate
6.09%
Fees
Application: $500
Ongoing: $0 p.a.
Monthly Payment
$905
IMB logo
Principal & Interest 5Y Fixed5% min. depositOwner-occupier
IMB logo
Principal & Interest 5Y Fixed5% min. depositOwner-occupier
Product NameIMB Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.09%
Comp. Rate p.a.6.32%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.09%
Comparison Rate
6.32%
Fees
Application: $449
Ongoing: $6 per month
Monthly Payment
$909
Newcastle Permanent logo
Principal & Interest 5Y Fixed5% min. depositOwner-occupier
Newcastle Permanent logo
Principal & Interest 5Y Fixed5% min. depositOwner-occupier
Product NameNewcastle Permanent Premium Plus Package Fixed Rate
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.09%
Comp. Rate p.a.7.36%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.09%
Comparison Rate
7.36%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$909
Credit Union SA logo
Principal & Interest3% min. depositOwner-occupier
Credit Union SA logo
Principal & Interest3% min. depositOwner-occupier
Product NameCredit Union SA Home Loan Package Variable
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.56%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 97%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.56%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$919
Illawarra Credit Union logo
Principal & Interest5% min. depositOwner-occupier
Illawarra Credit Union logo
Principal & Interest5% min. depositOwner-occupier
Product NameIllawarra Credit Union Bare Essentials Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.24%
Comp. Rate p.a.6.34%
Minimum Loan Amount$30,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.24%
Comparison Rate
6.34%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$924
Community First Bank logo
Principal & Interest5% min. depositInvestment
Community First Bank logo
Principal & Interest5% min. depositInvestment
Product NameCommunity First Bank Basic Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.24%
Comp. Rate p.a.6.29%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.24%
Comparison Rate
6.29%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$924
P&N Bank logo
Principal & InterestInterest only5% min. depositOwner-occupier
P&N Bank logo
Principal & InterestInterest only5% min. depositOwner-occupier
Product NameP&N Bank & Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest Interest Only
Interest Rate p.a.6.29%
Comp. Rate p.a.6.30%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.29%
Comparison Rate
6.30%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$929
Beyond Bank logo
Principal & InterestInterest only5% min. depositOwner-occupierOffset account
Beyond Bank logo
Principal & InterestInterest only5% min. depositOwner-occupierOffset account
Product NameBeyond Bank First Home Buyers Total Home Loan Package - Variable New Money Offer (Owner Occupier)
Interest Rate Typevariable rate
Repayment Type Principal & Interest Interest Only
Interest Rate p.a.6.29%
Comp. Rate p.a.6.64%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments No
Interest Rate
6.29%
Comparison Rate
6.64%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$929
RACQ Bank logo
Principal & Interest5% min. depositOwner-occupier
RACQ Bank logo
Principal & Interest5% min. depositOwner-occupier
Product NameRACQ Bank Fair Dinkum Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.54%
Comp. Rate p.a.6.54%
Minimum Loan Amount$20,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.54%
Comparison Rate
6.54%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$953
P&N Bank logo
Principal & InterestInterest only5% min. depositOwner-occupier
P&N Bank logo
Principal & InterestInterest only5% min. depositOwner-occupier
Product NameP&N Bank & Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest Interest Only
Interest Rate p.a.6.89%
Comp. Rate p.a.6.92%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.89%
Comparison Rate
6.92%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$988
Westpac logo
Principal & Interest5% min. depositOwner-occupier
Westpac logo
Principal & Interest5% min. depositOwner-occupier
Product NameWestpac Flexi First Option Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.84%
Comp. Rate p.a.7.16%
Minimum Loan Amount$25,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.84%
Comparison Rate
7.16%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$983
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Showing 20 of 29 results

How is a 95% mortgage different to other home loans?

Most home loans require a 20% deposit (80% maximum loan-to-value ratio). But some products have a maximum insured loan-to-value ratio of 90 or even 95%. This means you can forget the 20% deposit and buy your property with a smaller deposit.

There are few differences between an 80% mortgage and a 95% mortgage. It could be virtually the same product, even with the same interest rate.

So what's the catch?

There are 2 key differences:

  • Lenders mortgage insurance. If your deposit is under 20% lenders require you to pay an insurance premium which gives them added protection. Depending on your deposit size and property value, LMI can add thousands of dollars to your mortgage. Use Finder's LMI calculator to estimate your premium.
  • Stricter lending criteria. A lender will scrutinise your application more closely if your deposit is under 20%. You need to make sure all your mortgage documents and paperwork are in order to maximise your chance of success.

How do I apply for a 95% mortgage?

Couple getting a cheap mortgage.Lenders have tightened their lending standards recently, and borrowers with smaller deposits have had a tougher time getting approved.

Strengthen your application by:

  • Getting your bank statements, identification and other documents together.
  • Demonstrating that you have a long history of savings.
  • Checking your credit score before applying.
  • Reducing your spending as much as possible in the 6 months leading up to your application.

Detailed guide to home loan applications and paperwork

Using the table above you can sort through loans with 95% LVRs and read reviews of the various products and lenders. Look at the fees, flexibility and features the loans come with to get a better idea of which ones work for you.

When you've found a product you're interested in hit the green button and you'll be taken to either a website or a form, where you can leave your details and get in touch with a mortgage expert. They'll guide you through the application process.

Need professional help getting the right loan? Chat to a broker

Can I borrow 95% with no genuine savings?

It is possible to buy a property without saving a deposit at all, but it isn't easy. Most lenders require at least 5% genuine savings. This is often defined as money that's been sitting in your account for at least 6 months. But there are ways around this:

  • Parental guarantor. If your parents own a property they can use it as security to guarantee your mortgage. You have the option of saving 5% yourself and getting your parents to guarantee the other 15% of the deposit. This way you can avoid LMI. But some lenders will allow your guarantor to cover the full 20% of the deposit.
  • First home owners grant (FHOG). If you're eligible for a first home owners grant this can form part of your deposit, making it even easier to get to 5%.
  • Selling shares or other assets. You can sell off an investment and use the cash as a deposit but you may need to satisfy the genuine savings rule.
  • Cash gift or inheritance. If you're fortunate enough to receive a cash gift or inheritance you could use this as your deposit but again, watch out for the genuine savings rule. Some lenders may accept a 10% deposit made of a gift or inheritance, but you need to do your research.

Learn more about how you can save a deposit with our comprehensive deposit savings guide.

Are there any risks with these mortgages?

Aside from LMI costs and more scrutiny from lenders, getting a mortgage with a 5% deposit means having a smaller deposit. This means borrowing more money and therefore paying more interest.

It also means having less equity in your property, which is potentially risky if your property falls in value and you can't repay your mortgage.

Let's look at both situations.

A smaller deposit means paying more in interest

Getting a loan with such a small deposit inevitably means paying more in interest over time. To get a clearer idea of the difference in interest costs, use our loan repayment calculator and enter your borrowing details. Use the same interest rate and loan term but try entering different loan amounts. The difference in interest you'll pay over the life of the loan can be significant. Here's an example:

Property cost: $600,000

  • 20% deposit = $120,000 (loan amount of $480,000)
  • Interest rate: 3.65%
  • Loan term: 30 years
  • Monthly repayments: $2,195.81
  • Total interest payable: $310,490.12

Property cost: $600,000

  • 5% deposit = $30,000 (loan amount of $570,000)
  • Interest rate: 3.65%
  • Loan term: 30 years
  • Monthly repayments: $2,607.52
  • Total interest payable: $368,707.02

The risk of negative equity

Equity refers to the amount of your property that you actually own. In other words, the value of the property minus the mortgage debt. If you buy a home with a 20% deposit you have 20% equity at the start. As you repay the loan principal (the money you borrowed), your equity increases.

But if property prices fall (as they sometimes do) your equity will decrease. If you'd paid off half your mortgage then you're still in a decent position. But if you've just bought a property with only a 5% deposit then even a small price fall could see you end up in negative equity. Having negative equity makes it much harder to sell your property or refinance your mortgage.

As long as you keep making repayments on the mortgage principal your equity should increase in the long term.

Find more low deposit loans and advice here

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Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 526 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

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