Australian Home Loan Calculator 2024
Calculate mortgage payments, stamp duty, and total costs by state
Loan Details
20.0% deposit • LVR: 80.0%
Loan Terms
Options
Loan Summary
Monthly Payment
$3,792
Principal & Interest
Loan Amount
$600,000
LVR: 80.0%
Total Interest
$765,267
Over 30 years
Risk Assessment
Good
Based on 80.0% LVR
Important: This calculator provides estimates based on general assumptions. Actual costs may vary depending on your specific circumstances, lender policies, and current regulations. Stamp duty calculations are approximate and may not include all concessions or surcharges. Consult a mortgage broker or financial adviser for personalized advice. Interest rates and fees can change.
Australian Home Loan Guide 2024
Overview
Why Use This Mortgage Calculator
Related Australian Calculators
Frequently Asked Questions
How much deposit do I need for a home loan in Australia?
Most lenders require a minimum 5% deposit, but you'll pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. A 20% deposit helps you avoid LMI and may get you better interest rates.
What is stamp duty and how much will I pay?
Stamp duty is a state tax on property purchases. Rates vary significantly by state and property value. First home buyers may be eligible for exemptions or concessions in most states.
What is Lenders Mortgage Insurance (LMI)?
LMI protects the lender if you default on your loan. It's required when your loan-to-value ratio (LVR) exceeds 80%. The cost depends on your LVR and loan amount, typically ranging from 0.3% to 2.8% of the loan amount.
What are the current home loan interest rates in Australia?
Home loan rates typically range from 5.5% to 7.5% for owner-occupiers and slightly higher for investors. Rates vary by lender, loan type, and your financial situation. Compare rates regularly as they change frequently.
What first home buyer benefits are available?
Benefits vary by state but may include stamp duty exemptions/concessions, first home buyer grants ($7,000-$26,000), and access to the First Home Super Saver Scheme allowing you to use super for a deposit.