What’s my borrowing power on $250,000 a year?

How your deposit changes it

Saved for a deposit	Home up to	Mortgage	Payment a month
$73,165 (5%)	$1,463,283	$1,390,118	$8,514
$154,458 (10%)	$1,544,576	$1,390,118	$8,514
$347,530 (20%)	$1,737,648	$1,390,118	$8,514

Stamp duty on a $1,737,648 home

Stamp duty depends on the state and on whether you’re a first home buyer. On an established home at this price, you’d pay:

State or territory	First home buyer	Other buyers
New South Wales	$76,861	$76,861
Victoria	$95,571	$95,571
Queensland	$73,268	$73,268
Western Australia	$80,607	$80,607
South Australia	$89,404	$89,404
Tasmania	$73,382	$73,382
Australian Capital Territory	$0	$78,889
Northern Territory	$86,014	$86,014

Your savings need to cover this as well as the deposit. Work it out for your purchase with the stamp duty calculator.

How it’s worked out

Lenders check you could afford the repayments at your rate plus 3% (9.2% here). On $250,000 you take home about $13,886 a month; after $2,500 of living costs, $11,386 a month can go on repayments at that higher rate. Lending above 6 times income ($1,500,000) is limited.

Assumes one buyer with no other debts and living costs of $2,500 a month, at 6.2% over 30 years, with repayments tested at that rate plus 3%. New owner-occupier variable home loans averaged 6.2% in August 2026 (RBA).

• Lenders must check you could still afford the repayments if rates were 3 percentage points higher. This tests repayments at your rate plus 3% against your take-home pay after living costs and other debt repayments.
• Living costs are your own estimate. Lenders compare them with a benchmark for your household and use whichever is higher, so you may be offered less.
• Lenders can only make a limited share of loans above 6 times your income, counting all your debts.