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First Home Buyer Affordability Calculator Australia
About you
Tell us about the people buying and where you plan to live.
Your answers are saved on this device as you go. You can return and change them later.
Estimates are for general information only and are not financial, legal or tax advice. Government rules, lender policies and costs can change.
What this first home buyer calculator estimates
This calculator gives an indicative estimate of your potential purchasing position as a first home buyer. It uses the information you enter — household income, living expenses, debts and financial commitments, savings and deposit, and your target property price — to estimate your borrowing range, deposit position, upfront costs and estimated mortgage repayments.
The result is an estimate only. It is not loan approval, pre-approval or a lender's assessment of your borrowing capacity. See how our estimates are calculated.
Want to look more closely at repayments? Our home loan repayment calculator lets you compare interest rates, loan terms and repayment frequencies.
What affects your borrowing estimate?
The main factors the calculator takes into account are:
- • Household income, including a conservative portion of other regular income where applicable
- • Monthly living expenses for your household
- • Existing debt repayments, such as car or personal loans
- • Credit-card limits, which lenders often assess as a recurring commitment even when the balance is low
- • Your savings and deposit, including eligible funds such as the First Home Super Saver Scheme where confirmed
- • Other income where applicable, such as rental income or government payments
What are the upfront costs of buying a home?
Beyond your deposit, buying a home usually involves other costs. Depending on your state or territory and your circumstances, these can include:
- • Transfer duty (stamp duty), where applicable — some first-home buyers qualify for concessions or exemptions
- • Conveyancing or legal costs
- • Building and pest inspections
- • Loan-related costs, such as application or establishment fees
- • Other purchase costs, such as moving and initial repairs or furniture
The calculator pre-fills typical estimates for these, which you can replace with real quotes. Costs vary widely, so check current figures for your state or territory. Government help for first home buyers may reduce some of these costs.
What is Lenders Mortgage Insurance (LMI)?
Lenders Mortgage Insurance (LMI) is insurance that protects the lender — not you — if the loan is not repaid. It generally comes into play when you borrow a high percentage of the property's value (a high LVR), typically above 80%, unless an eligible government guarantee or another arrangement applies.
Where LMI may apply, the calculator shows an estimated premium and lets you choose whether it would be added to your loan or paid upfront. This is an estimate only — actual premiums and how a lender treats LMI can differ.
Why is my result only an estimate?
Actual borrowing capacity and loan approval depend on the lender and its own assessment criteria. Lenders verify your income, expenses, debts and credit history, value the property independently, and consider your full circumstances — none of which this calculator can see. Interest rates, lender policy and government-program settings can also change.
Use your result to understand your likely position and plan your next steps, not as a loan decision. Our first home buyer checklist covers what to prepare before approaching a lender.