How Much House Can I Afford on $105,000 a Year? About $426,240
Banks test repayments at 9.00% to make sure you could cope with higher rates.
Updated for the 2026-27 tax year · Rates checked 14 October 2026
| Home price you can afford | $426,240 |
|---|---|
| Mortgage amount | $326,240 |
| Deposit | $100,000 |
| Monthly mortgage payment | $1,956 |
| Property tax & insurance (monthly) | $142 |
| Total monthly housing cost | $2,098 |
- Banks test repayments at 9.00% to make sure you could cope with higher rates.
- At 6% the monthly payment would be about $2,098 (24% of gross income).
Your result, explained
Based on your income, debts and deposit, lenders would likely approve a home of up to about $426,240, with a $326,240 mortgage costing around $2,098 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.
Compare nearby amounts
| Amount | Home price you can afford |
|---|---|
| $95,000 | $395,169 |
| $100,000 | $410,705 |
| $105,000 | $426,240 |
| $110,000 | $441,775 |
| $115,000 | $457,310 |
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.