How Much House Can I Afford? (Australia)
Find the home price you can afford based on your income, existing debts, deposit and mortgage rate, using the same rules lenders apply.
Updated for the 2026-27 tax year · Rates checked 14 October 2026
| Home price you can afford | $472,846 |
|---|---|
| Mortgage amount | $372,846 |
| Deposit | $100,000 |
| Monthly mortgage payment | $2,235 |
| Property tax & insurance (monthly) | $158 |
| Total monthly housing cost | $2,393 |
- Banks test repayments at 9.00% to make sure you could cope with higher rates.
- At 6% the monthly payment would be about $2,393 (24% of gross income).
Your result, explained
Based on your income, debts and deposit, lenders would likely approve a home of up to about $472,846, with a $372,846 mortgage costing around $2,393 a month.
That is the maximum a lender allows, not necessarily what is comfortable. Leave room for savings, repairs and rate rises: many buyers aim 10–20% below the maximum. Paying off a car loan or credit card first is often the fastest way to raise your budget, because every monthly debt payment reduces what you can borrow.
Popular amounts
- $30,000$193,211
- $35,000$208,747
- $40,000$224,282
- $45,000$239,817
- $50,000$255,352
- $55,000$270,888
- $60,000$286,423
- $65,000$301,958
- $70,000$317,493
- $75,000$333,028
- $80,000$348,564
- $85,000$364,099
- $90,000$379,634
- $95,000$395,169
- $100,000$410,705
- $105,000$426,240
- $110,000$441,775
- $115,000$457,310
- $120,000$472,846
- $125,000$488,381
- $130,000$503,916
- $135,000$519,451
- $140,000$534,987
- $145,000$550,522
- $150,000$566,057
- $155,000$581,592
- $160,000$597,127
- $165,000$612,663
- $170,000$628,198
- $175,000$643,733
- $180,000$659,268
- $185,000$674,804
- $190,000$690,339
- $195,000$705,874
- $200,000$721,409
- $205,000$736,945
- $210,000$752,480
- $215,000$768,015
- $220,000$783,550
- $225,000$799,085
- $230,000$814,621
- $235,000$830,156
- $240,000$845,691
- $245,000$861,226
- $250,000$876,762
- $255,000$892,297
- $260,000$907,832
- $265,000$923,367
- $270,000$938,903
- $275,000$954,438
- $280,000$969,973
- $285,000$985,508
- $290,000$1,001,044
- $295,000$1,016,579
- $300,000$1,032,114
Serviceability buffer
Australian lenders must check you could repay if rates rose by 3 percentage points (APRA’s serviceability buffer). This calculator assumes repayments at that higher rate of up to about 30% of gross income, a common rule of thumb. Each bank’s exact model differs.
How to afford more
- Pay down car loans and credit cards. Every $100 a month of debt removed raises your budget.
- Save a bigger deposit. It adds directly to the price you can pay.
- Shop around for a lower rate, or consider a longer term.
Frequently asked questions
Should I borrow the maximum?
Not necessarily. The maximum is what a lender will approve, not what is comfortable. Leave room for savings, repairs and rate rises.
Is income before or after tax?
Before tax (gross). Lenders work from gross income.
Does this include closing costs?
No. Budget separately for closing costs or stamp duty, legal fees and moving costs.