Your Guide in Buying your First Home

1. Verify your identity (VOI)

Plan & Prove • Document

Why: Required for property transfers to reduce title‑fraud risk.

When: Before settlement (often early with your conveyancer).

Docs:

Passport/Driver’s licence (+ supporting docs as needed)


Landgate: VOI overview

AusPost VOI service

First Home Buyer Calculator

🏠 First Home Buyer Calculator

Calculate your mortgage repayments, costs, and borrowing capacity for Australian property purchases

🏡 Property Details

💰 First Home Buyer Options

Key Results

Loan Amount $450,000
LVR 90.0%
Monthly Repayment $2,845
Upfront Cash Required $68,250
LMI $7,425
Grants Available $0
Borrowing Capacity $485,000

Actions

Detailed Breakdown

Loan Details

Property Price: $500,000
Deposit: $50,000
Base Loan: $450,000
LMI (capitalized): $7,425
Total Loan Amount: $457,425

Repayments

Interest Rate: 6.50%
Loan Term: 30 years
Frequency: Monthly
Repayment: $2,895
Total Interest: $584,625
Total Paid: $1,042,050

Costs & Grants

Stamp Duty: $18,325
Government Fees: $328
Lender Fees: $900
FHOG: $0
Net Upfront Cost: $76,978

Borrowing Capacity Analysis

Income Assessment

Gross Income: $85,000
Living Expenses: $45,000
HECS/HELP: $1,500
Credit Commitments: $1,800
Surplus Income: $36,700

Capacity Constraints

Assessment Rate: 9.50%
DTI Limit (6x): $510,000
Serviceability Limit: $485,000
Max Borrowing: $485,000

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⚠️ Important Disclaimer

This calculator provides estimates for educational purposes only and should not be considered as financial advice. Interest rates, fees, and government incentives are subject to change. Always consult with a licensed mortgage broker or financial advisor for accurate, up-to-date information specific to your circumstances.

Configuration last updated: January 2025 • Some values may require updates for current accuracy