Do The Sums is a free guide only. Figures are estimates based on typical Australian lender criteria and approximate market rates as of early 2026. We are not a financial services provider. Always consult a licensed mortgage broker before making any financial decisions.
Borrowing power
How much will a lender actually offer you? No signup, no broker, no BS.
First home buyer — what this means for you
Who is buying?
Income
Your gross annual salary
$90,000
Partner's gross annual salary
$70,000
Gross salary is your before-tax income excluding super. If your employer quotes a "package" or "CTC" figure that includes super, toggle it on — we strip the 11% super component out automatically.
HECS / HELP student debt
Do you have a HECS-HELP debt?
Remaining balance
$25,000
Banks count compulsory HECS repayments as a committed expense — typically 2–10% of gross salary depending on income level.
Partner HECS-HELP debt?
Partner's remaining balance
$25,000
Deposit
Savings available for deposit
$80,000
Cash you can put towards the purchase. 20% deposit avoids Lenders Mortgage Insurance (LMI). Under 20% is fine — just factor in LMI costs separately.
Existing commitments
Monthly debt repayments
$0 / mo
Minimum monthly repayments on car loans, personal loans, BNPL. Exclude HECS (handled above) and exclude living costs (below).
Monthly living expenses
$3,000 / mo
Groceries, utilities, subscriptions, transport, eating out. Banks apply a HEM minimum floor regardless of what you declare.
Total credit limit across all cards
$10,000
Banks assess your full credit card limit — not your current balance. A $20k limit at $0 balance still counts against you. This is one of the most common reasons people borrow less than expected.
Dependants (children)
No HEM loading applied
Banks add ~$600/mo per child to your minimum expense floor (HEM). Two kids can reduce borrowing power by $80–120k.
Employment type
Standard assessment — banks use your current base salary at face value.
Estimated borrowing power
–
$0$1.5M
Est. monthly repayment
–
Deposit ratio (LVR)
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Debt-to-income
–
Monthly surplus after repayments & expenses
–
Repayments as % of take-home
What's driving your number
Rate used: 6.2% p.a. (approximate AU variable average, early 2026). Serviceability stress-tested at 9.2% — the APRA-required +3% buffer.
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Important: These figures are rough estimates only and not financial advice. Actual borrowing capacity varies significantly by lender, credit history, employment type, and current policy. Always speak to a licensed mortgage broker before making decisions.
Mortgage repayments
Variable rate with offset account. Crunch the numbers in real time.
Loan details
Loan balance
$600,000
Interest rate (p.a.)
6.2%
Remaining term
30 years
Monthly repayment
–
Calculated from loan details
Offset account reduces interest
Current offset balance
$20,000
Money in your offset reduces the balance interest is charged on — dollar for dollar.
Monthly contributions to offset
$500 / mo
As this grows, more of each repayment goes to principal instead of interest.
Monthly repayment
–
Effective term
–
Total interest
–
Principal
Interest saved
Interest paid
With offsetWithout offset
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Note: Assumes a standard variable rate loan where repayment stays fixed and growing offset accelerates principal reduction. Rates indicative only.
Stamp duty calculator
All Australian states and territories, including first home buyer concessions.
Property details
State / Territory
Property type
Investment properties are ineligible for FHB concessions in all states.
Purchase price
$700,000
Buyer status
Eligibility requires: Australian citizen or permanent resident, never previously owned property in Australia, intend to live in the property as your principal place of residence.
Stamp duty payable
–
Stamp duty
–
As % of price
–
Total upfront est.
–
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Important: Stamp duty rates and thresholds change frequently. Based on state revenue office rates as of early 2026. First home buyer eligibility has specific conditions — always verify with your state revenue office or conveyancer before settlement.