How this estimate works
The calculator combines the same engines as our standalone tools, so the figures match for the same inputs:
- Stamp duty and fees — the stamp duty calculator rules (version 1.2.0-fy2026-27), checked against every state and territory revenue office and land titles office for 2026–27.
- Borrowing estimate — the borrowing power calculator model: after-tax income less living expenses and debts, repayments tested at your rate plus APRA’s 3 percentage point buffer, and total debt repayments capped at 35% of gross income (a MoneyWiseCalc model setting, not a lender rule).
- LMI — the LMI calculator’s premium table (estimate v2-2026-10-helia); actual premiums are set by the lender’s insurer.
- Repayments — principal and interest at your rate and at 1 and 2 percentage points higher, as Moneysmart suggests testing.
Cash needed = deposit + stamp duty (after any first home buyer relief you’re eligible for) + foreign purchaser surcharge (if any) + transfer and mortgage registration fees + the other costs you enter. Cash available = your savings minus the buffer you want to keep. When the deposit is under 20%, the estimated LMI premium is added to the loan.
Government schemes: how the check works
Tick Check the 5% Deposit Scheme and Help to Buy (it opens when you tick first home buyer) and answer four questions. Each scheme then shows one of three results — appears to meet the key published criteria, a published criterion is not met, or check manually when your answers can’t settle it — with the reason for every criterion. Rules were checked against firsthomebuyers.gov.au and the Help to Buy Customer Guide on 1 October 2026.
- 5% Deposit Scheme: citizens or permanent residents aged 18+, first home buyers or no property in Australia in the last 10 years, living in the home, a principal-and-interest loan, at most two applicants and a price at or below the local cap. Single parents or legal guardians can use a 2% deposit. The Government guarantee replaces LMI.
- Help to Buy: Australian citizens aged 18+, no property owned anywhere, taxable income up to$103,000 (single) or $165,000 (joint or single parent) for 2026–27, a 2% minimum deposit and its own price caps. The Government contributes 5%–30% of an existing home or up to 40% of a new one, enough to avoid LMI, and owns that share.
- The two schemes are alternatives — Help to Buy can’t be combined with other Government schemes or guarantees — so they’re compared, never added together.
What it doesn’t do
- It isn’t a loan approval. The scheme check compares your answers with the published criteria; Participating Lenders and Housing Australia decide eligibility, and a postcode’s exact price cap comes from the official tool.
- It doesn’t include first home owner grants, council rates or strata, insurance, or stamp duty on the LMI premium.
- Duty concessions assume you meet every eligibility rule — confirm with your state revenue office or conveyancer.
Frequently asked questions
How much cash do I need to buy a house in Australia?
Your deposit plus stamp duty, transfer and mortgage registration fees, and costs such as conveyancing and inspections. On a $750,000 established home in NSW with a 20% deposit, that is $150,000 plus $27,937 in duty and $365 in registration fees before other costs (2026–27 rules). First home buyer relief can remove the duty in some states.
Does this calculator tell me if a lender will approve my loan?
No. It uses MoneyWiseCalc’s serviceability model — after-tax income, living expenses, existing debts and an assessment rate 3 percentage points above your rate, as APRA expects — to give an indicative borrowing estimate. Each lender uses its own policy, so only a lender can tell you what they would approve.
What happens if my deposit is under 20%?
Most lenders charge lenders mortgage insurance (LMI) when the loan is more than 80% of the property value. The calculator estimates the premium and shows it added to the loan. Eligible first home buyers may avoid LMI with a 5% deposit through the Australian Government 5% Deposit Scheme.
Can I use the 5% Deposit Scheme and Help to Buy together?
No. Help to Buy participants can’t receive help from other Australian Government or state schemes, loans or guarantees, so the calculator shows them as separate pathways. State first home buyer stamp duty concessions and grants can still apply with either.
Why does the calculator keep some savings aside?
Spending every dollar on the purchase leaves nothing for repairs, moving or a drop in income. Enter the amount you want to keep and the calculator only counts the rest towards the deposit and costs.
Related tools and guides
- Stamp duty in Australia and first home buyer concessions by state
- LMI for first home buyers — the 5% Deposit Scheme and Help to Buy
- Home loan repayment calculator
General information only, not financial or credit advice. Results are estimates based on your inputs and the assumptions above. How we source and check our figures.