Just keep in mind you will need extra (approx 5%) of the purchase price on TOP of your your deposit for other buying expenses (ie, stamp duty, LMI, solicitor fees, rates adjustments, etc). So if the banks are saying you can borrow $250k, and you had 25k deposit, you would also need extra about $12,500 for those incidental purchasing costs. [It may not be quite 5% - as you may be able to take advantage of concessions on stamp duty etc; but it is generally a good budget guide]