I’ve Got a Deposit Saved – So Why Can’t I Get a Loan?”

It’s a question I get all the time.

“Nick, I’ve saved up my deposit, I’ve got $80K sitting in the bank – but the bank still knocked me back for a loan. Why?”

The truth is, having a deposit is only one part of the puzzle.

💡 Deposit ≠ Approval

Don’t get me wrong — having a solid deposit is a great start.
But what lenders really care about is whether you can afford the loan repayments long term.

That’s where a lot of people get stuck.

Lenders look at:

• Your income
• Your living expenses
• Debts or credit cards
• Any dependents
• Even things like Buy Now Pay Later accounts

So even if you’ve got $50K, $80K, or even $100K saved — if your income doesn’t show you can repay the loan, they won’t approve it.

💳 “But I Have No Debt!” — That’s Not Always Enough

You could have zero debt and still not qualify if your income is too low or inconsistent.

For example:

• If you’re casual or contract with no history
• If you’re self-employed with minimal declared income
• If you have dependents and a tight budget

These factors all impact what banks call your serviceability — basically, your ability to repay the loan comfortably.

✅ How to Get Loan-Ready (Even If You Have the Deposit)

If you’re in this situation, here’s what to do:

1. Review your income structure: Is it regular and declared? If you’re self-employed, are you paying yourself properly?
2. Reduce unnecessary expenses: Banks go through your spending line by line — Uber Eats, Afterpay, etc. all add up.
3. Get a borrowing capacity check: Before applying, let me run the numbers and see what you actually qualify for.
4. Consider other lenders: Some are stricter than others. I work with 30+ lenders and can find one that fits your situation.

💬 Final Word

Saving your deposit is a massive milestone — but the next step is making sure your income and spending match up to the loan you’re after.

At Truth Group, I help people figure out what’s holding them back and what steps to take to get across the line — no guesswork, just a clear plan.

Got a deposit and not sure what’s next? Reach out — I’ll tell you exactly where you stand.