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Getting started

Here you'll find answers to questions about features on our home loans and finding the loan that's right for you. If you want to talk to a Bank of Melbourne home loan expert, call us on 13 22 66.

The deposit you need depends on the type of loan you are taking.

1. Generally, a 20% deposit is required to borrow without mortgage insurance. However, with Lender's Mortgage Insurance you only need a 5% deposit if you've been a Bank of Melbourne customer for at least 6 months, or 10% if you are new to Bank of Melbourne.

2. With Portfolio Loan you will need a deposit of 20% to avoid Lender's Mortgage Insurance. With Lender's Mortgage Insurance, you'll need a deposit of 10%.

 

 

The Detail

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help, call 13 22 66.