Many lenders require a deposit of at least 20% of the house price before giving out a home loan. It’s also note-worthy to mention that the bigger your deposit, the less you’ll pay in interest. If you do get a mortgage for more than 80% of a property’s value, you’ll likely have higher interest costs because the special interest rates offered by the lender won’t be available to you. Lenders also have a higher servicing benchmark for you to meet if your deposit is below 20%.