Wombat Home Loans

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Deposit paths

Which door can you actually walk?

Five questions. I will tell you which deposit path is worth walking this year.

The government 5% scheme. A 90% LMI waiver. HAS plus a normal first mortgage. OwnHome. Or a standard 20% loan if you already have it.

This is not an approval. It is the same order I walk in a strategy session.

1. Are you a first-home buyer in Australia?
2. Where is the property?
3. Rough purchase price?
4. Cash you can actually use as a deposit THIS year? (Not locked KiwiSaver. Not equity you cannot access.)
5. Could a lender waive LMI because of your job? (Bank or financial institution, or a listed profession such as doctor, lawyer, accountant. If you do not know, say so.)

Pick an answer for each question. Not sure is a real answer.

Your door Answer five. Get one door.

I will name the path that is worth walking, and the ones that look closed. No email. No sales sequence.

Assumptions behind this tool
  • This walks the same order I use in a strategy session: 20% first, then a 90% LMI waiver, then the government 5% scheme, then HAS or OwnHome. It is a path-finder, not a credit assessment.
  • Housing Australia price caps used here (from 1 October 2025, still the current published NSW figures in 2026): $1,500,000 for Sydney, Illawarra, Newcastle and Lake Macquarie; $800,000 for the rest of NSW. Other states have their own caps. Confirm the live postcode cap on Housing Australia.
  • Cash means money you can actually use as a deposit this year. Locked KiwiSaver and equity you cannot access do not count.
  • An LMI waiver depends on that lender’s occupation list on the day. “Yes, probably” is not a guarantee.
  • Product features change. This is general information, not personal advice.
The next step

A calculator gives you a number. I give you a plan.

These tools use one set of assumptions. Lenders use forty different ones — and matching your situation to the right credit policy is usually worth far more than any online estimate. Thirty minutes on Google Meet, no cost, no obligation.

Book a discovery call Or call +61 456 255 409

Things to know: these calculators are a guide only. Results are estimates based on the figures you enter and the assumptions stated on this page — they don't take into account all fees and charges, changes in interest rates, or your full personal circumstances, and they are not a loan offer, pre-approval, or credit advice. Every lender assesses applications differently, and your actual borrowing capacity, repayments and savings may be higher or lower. Before acting, consider whether the results are right for your situation — or better yet, talk it through with a broker. Wombat Home Loans is a Credit Representative of Loans Only Pty Ltd, Australian Credit Licence 561324.

Product features change. Confirm live scheme caps on Housing Australia. This is not personal advice.