In the current economic environment most lenders will only lend you up to 90 or 95% LVR, which means only 90% or 95% of the purchase price of the property. This protects them from selling the property at a loss if you default on your mortgage and property prices go down. 97% is often too much for the majority of lenders. 

Your ability to get a loan with a particular LVR depends on many different variables including your income, level of savings, credit history, risk profile. The best way to find out how much you are able to borrow is talk to an Aussie Broker who will be able to assess your current financial situation and look at your options. This service is part of your free appointment with an expert Aussie broker.