Updated 21 August 2026
First Home Buyer Hub
Buying your first home is easier to plan when you separate three questions: what you may be able to borrow, how much cash you need before settlement, and whether the repayment still works for your life. This hub brings those steps together without pretending an online estimate is a loan approval.
Start with a realistic budget, test a few scenarios, then take the figures to a lender, broker or conveyancer for advice that considers your full circumstances.
Step 1
Include income, living expenses, credit-card limits and HELP repayments to create a useful starting range.
Step 2
Reserve cash for duty, legal work, inspections, LMI and a sensible buffer, not just the deposit.
Step 3
Try a higher rate as well as the rate you expect, then compare the result with your own monthly budget.
Plan the deposit and purchase costs together
A 20% deposit is a benchmark, not a universal requirement. A lower deposit may be possible, but can mean LMI and a higher loan. The useful comparison includes your remaining cash after transfer duty and fees, not just the amount you can place on the contract.
Model the things lenders count
Borrowing power is affected by more than your salary. Living costs, other loans, credit-card limits, dependants and compulsory HELP repayments can change a lender-style estimate. Use real recurring costs instead of the most optimistic version of your budget.
Check official rules before relying on support
First-home buyer grants, duty concessions and government guarantee programs change by location, lender and personal circumstances. BorrowPower uses estimates and links to sources, but it cannot confirm eligibility. Check the current information from Housing Australia and your state or territory revenue office before signing a contract.
General information only and not financial, credit or legal advice. Calculator results are estimates based on your inputs and standardised assumptions. A lender or broker may assess your situation differently.