No Scheme
20% deposit required to avoid LMI
$570,381
Max property price
- Deposit (20%)
- $114,076
- Your loan
- $456,305
- LMI
- $0 (waived)
- Monthly repayment
- $3,097
- Total interest
- $658,738
Plan - Tool 01
Borrowing Power Calculator
See how much you can borrow and how government schemes boost your buying power.
Your situation
Who is buying?
Region
Property type
Your finances
Your target price
Used for the deposit, repayment and scheme cap checks below.
Your estimated maximum borrowing power
$456,305
Assessed at 10.2%: your 7.2% rate plus the 3% serviceability buffer lenders apply.
- Net income / month
- $7,590
- Living costs used
- $2,500
- Surplus / month
- $5,090
What you could buy under each scheme
The highest price each pathway supports with your borrowing power, its deposit rules and price cap.
May be eligible
First Home Guarantee
5% deposit, no LMI (cap $1.00M)
$480,321
Max property price
- Deposit (5%)
- $24,016
- Your loan
- $456,305
- LMI
- $0 (waived)
- Monthly repayment
- $3,097
- Total interest
- $658,738
Federal Help to Buy (Existing)
30% gov equity, 2% deposit (cap $1.00M)
$671,036
Max property price
- Deposit (2%)
- $13,000
- Fed Gov share (30%)
- $195,000
- Your loan
- $442,000
- LMI
- $0 (waived)
- Monthly repayment
- $3,000
- Total interest
- $638,088
QLD Boost to Buy (Existing)
25% QLD gov equity, 2% deposit (cap $1.00M)
$625,075
Max property price
- Deposit (2%)
- $12,501
- QLD Gov share (25%)
- $156,269
- Your loan
- $456,305
- LMI
- $0 (waived)
- Monthly repayment
- $3,097
- Total interest
- $658,738
Deposit comparison at $650,000
What you put in, what the government contributes, and what you repay each month.
| Scheme | Deposit | Gov equity | Your loan | Monthly |
|---|---|---|---|---|
| No scheme (20% deposit) | $130,000 | None | $520,000 | $3,529.70 |
| First Home Guarantee (5%) | $32,500 | None | $617,500 | $4,191.52 |
| Help to Buy (30% gov equity) | $13,000 | $195,000 | $442,000 | $3,000.24 |
| QLD Boost to Buy (25% gov equity) | $13,000 | $162,500 | $474,500 | $3,220.85 |
Scheme eligibility and rules
Each card shows the verdict for your inputs. Open one for the full rules.
First Home Guarantee (Federal) (likely eligible)5% depositNo income caps. Your target price is within the cap for your state/region.
- 5% deposit, no LMI. Government guarantees the gap to 20%.
- No income caps and no annual limit on places (from Oct 2025).
- Property price cap: $1.00M in Queensland, capital city and regional centres.
- Must be a first home buyer. Property must be owner-occupied.
- You own 100% of the property from day one.
- Available through most major lenders and brokers.
Federal Help to Buy (Shared Equity) (likely eligible)30% gov equityIncome $120,000 is under the $165,000 single parent cap. Final eligibility is determined by Housing Australia.
- Gov contributes up to 40% (new homes) or 30% (existing homes).
- Minimum 2% deposit from the buyer. No LMI required.
- $103k (single) / $165k (couple or single parent) income cap.
- Property price cap: $1.00M in Queensland, capital city and regional centres.
- Gov owns proportional share. No rent/interest on their share.
- Must repay gov share when selling, refinancing, or voluntarily.
- 10,000 places/year nationally. Launched Dec 2025.
- Apply through an approved lender - see the full list at housingaustralia.gov.au.
- Available in every state and territory.
- Cannot combine with state shared equity or First Home Guarantee.
- Must be Australian citizen, first home buyer, owner-occupier.
QLD Boost to Buy (State Shared Equity) (likely eligible)25% QLD govIncome $120,000 is under the $232,000 household cap. Final eligibility is determined by QRIDA.
- QLD Gov contributes up to 30% (new) or 25% (existing).
- Minimum 2% deposit from the buyer.
- Income cap: $155k (single no dependents) / $232k (couple or single with dependents).
- Property price cap: $1,000,000.
- 50% of places reserved for regional QLD (outside SE QLD).
- Administered by QRIDA through approved lenders - see qrida.qld.gov.au for the current lender list.
- Cannot be combined with Federal Help to Buy.
- If income exceeds cap by 25% for 2 consecutive years, you may need to buy back some gov equity.
- Gov share repaid when selling or at end of loan term.
QLD first home buyer bonuses
QLDNot available
First Home Owner Grant
New builds only
$15,100
Stamp duty saving
Existing home under $700k: full concession
FHOG and stamp duty rules
First Home Owner Grant
- $30,000 for new homes under $750,000
- Must be a first home buyer, Australian citizen/PR, aged 18+
- Must move in within 1 year of settlement (or build completion) and live there as your home for at least 6 continuous months
- Not available for established/existing homes
- Can be stacked with FHG, Help to Buy, or Boost to Buy
Stamp duty (FHB from 1 May 2025)
- New home or vacant land: $0 stamp duty regardless of price
- Existing home under $700k: full concession ($0)
- Existing $700k to $800k: partial concession (sliding scale)
- Existing over $800k: no FHB concession
Good to know
Federal Help to Buy, QLD Boost to Buy and the First Home Guarantee cannot be combined with each other. Only one shared equity or guarantee scheme can be used on a purchase. However, the Queensland First Home Owner Grant ($30,000, where eligible) and any stamp duty concessions can still apply alongside whichever scheme you use.
This estimate is not a pre-approval or loan offer. Lenders conduct their own serviceability assessment based on credit history, employment, living expenses, and other factors not captured here. Actual borrowing capacity may differ. Data as of September 2026.
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Keep going
Tools people usually open after Borrowing Power.
Auction Max BidHeading to an auction? Turn this loan into your absolute max bid, with stamp duty, LMI and buffer included.Deposit Boost ComparatorBorrowing power is how much you can borrow. This shows how to gather the deposit faster.Negative Equity RiskUsing Help to Buy or the 5% Deposit Scheme? Run the downside maths and compare the buffer each gives you.Layered Stress TestStack rate rises with pregnancy, job loss or medical events and see which combinations break the budget.Co-Buying CalculatorHave a co-buyer? Schemes, stamp duty and grants split by ownership share.Strata Fee EstimatorLooking at apartments? Strata fees count as committed expenses and reduce borrowing capacity.School Zone PremiumTargeting a sought-after school zone? See how much extra borrowing power the catchment premium needs.Builder Quote ComparisonBuilding new? Standardise 2 to 5 builder quotes side by side before you lock in a price.
Frequently asked questions
Borrowing power is the maximum loan amount a lender is likely to approve based on your income, living expenses, existing debts, and the interest rate used for assessment. It is not a guarantee of approval - it is an estimate of the ceiling. The actual amount any lender offers will depend on their own policies, your credit history, and your full financial picture.
Australian lenders are required by APRA to test whether you could still afford repayments if rates rose by at least 3% above the loan rate. This is called the assessment buffer. So if the current rate is 6.95%, the calculator tests your repayments at 9.95%. This buffer is a core reason why your borrowing estimate can be lower than you might expect from the headline repayment figure alone.
The Household Expenditure Measure (HEM) is a benchmark figure lenders use as a floor for your monthly living costs. Even if you declare lower expenses, most lenders will not accept a living cost figure below HEM. The calculator uses HEM minimums of around $1,600 per month for a single person, $2,300 for a couple, and an extra $500 for each dependent child. If your actual declared expenses are higher, the higher figure is used - whichever is greater reduces your available surplus.
Every dollar of monthly debt repayment (car loans, personal loans, HECS/HELP) comes directly off the surplus income available for a home loan. Credit cards are treated differently - lenders typically apply a monthly serviceability charge of around 3-4% of your total credit card limit, regardless of your actual balance or whether you pay in full each month. A $10,000 credit card limit could reduce your borrowing power by roughly $300-$400 per month in the lender's assessment, which can translate to tens of thousands of dollars off your maximum loan.
With a standard 20% deposit you need a larger cash sum but avoid Lenders Mortgage Insurance (LMI). The First Home Guarantee lets eligible first home buyers purchase with as little as a 5% deposit without paying LMI, because the government guarantees the remaining 15% to the lender. This means a smaller saved deposit can get you into a property sooner, but the loan itself is larger, which affects ongoing repayments. The calculator shows both scenarios side by side so you can compare the property price each approach could reach given the same income.
Help to Buy is a federal shared equity scheme where the government co-owns a portion of your home - up to 40% for a new build or 30% for an existing property - in exchange for only needing a 2% deposit. Because the government's equity stake reduces the size of your loan, your borrowing power effectively stretches further for the same income. Income caps apply: $103,000 gross per year for a single applicant and $165,000 for a couple, as at current legislation. Property price caps also vary by state and region. The relevant government authority makes final eligibility determinations.
This calculator uses standard serviceability assumptions based on published lender guidelines and APRA requirements, but every lender applies its own credit policy on top of these. Factors like your credit score, employment type (casual, self-employed, or PAYG), the property type, existing savings history, and the lender's current appetite for new business can all shift the final number. Use this estimate as a planning guide and a conversation starter, and speak with a mortgage broker or lender for an assessment tailored to your full circumstances.
Data verified September 2026
For illustration only. This tool does not constitute personal financial advice. Grant amounts, caps, and eligibility rules may change. Federal scheme caps shown are for capital city/regional centres and may differ for other areas. Always verify with your state revenue office and Housing Australia, and consider seeking independent financial advice before making decisions.