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Property Details (Victoria)

How Much Deposit Calc
Purchase Price ($)
Property Use
First Home Buyer (?)From 1st July 2017, first home buyers will be exempt from paying stamp duty (land transfer duty) when purchasing a home with a dutable value of up to $600,000. For purchases between $600,000 and $750,000, there is a concession for first home buyers calculated on a sliding scale.
Loan to Value Ratio (LVR) (?)Loan to Value Ratio is a calculation used by banks and lenders which calculates the percentage of debt in relation to the value of the property. Most lenders will only lend up to 95% of the value of the property inclusive of Lenders Mortgage Insurance (LMI). LMI is payable on most loans if you intend to borrow above 80%. The more you borrow above 80%, the higher the LMI you will pay. Adjust this amount on the dropdown menu to see the different results.
Loan Amount (Excluding LMI)
Government Fees
Stamp Duty
Land Transfer Fee
Mortgage Registration Fee
Loan Fees
Establishment Fee (?)Some lenders will charge an establishment fee depending on the product chosen. This fee is typically $600. A lot of home loan products these days will not charge an establishment fee. This is something to consider when selecting the right product for your needs.
Lenders Mortgage Insurance (LMI) (?)If you want to borrow more than 80% of the property value, then you will most likely have to pay Lenders Mortgage Insurance (LMI). Paying LMI does help you achieve home ownership sooner without the need for a 20% deposit. The more you borrow above 80% the higher the cost of the LMI, but lower deposit you will need to pay. This calculator provides an estimate only as each lender will calculate LMI differently.
Other Purchase Costs
Conveyancing (Estimate) (?)A conveyancer (or settlement agent) is a person who will act for you and on your behalf in the transfer of property. Conveyancing fees will vary depending on who you appoint to act on your behalf.
Total Purchase Costs

Results

Purchase Price plus Purchase Costs
Loan Amount (inclusive of LMI) (?)The amount you will borrow plus Lenders Mortgage Insurance (LMI)
Loan to Value Ratio (inclusive of LMI)
Deposit Required
Monthly Loan Repayment (?)This is an indication only of your potential monthly repayment amount based on a 30 year loan term with variable interest rate of 3.89%p.a. for owner occupied loans and 4.74%p.a. for investment loans. For a more accurate estimate of your monthly repayment we would recomend you speak with one of our mortgage advisors.
A guarantor could allow you to purchase with 0% deposit and no LMI. Click Here to find out more
Disclaimer: This calculator provides an estimate of the amount of money you would need to contribute to purchase a house in the state of Victoria. The results should be used as an indication only and do not represent a quote or pre-qualification for a loan. This calculator makes assumptions based on multiple lender criteria and is not intended to be relied upon for the purpose of making a decision in relation to a financial product.

To obtain a more accurate estimate of how much deposit you will need we recommend you speak with one of our specialist mortgage consultants. Please complete your details below to arrange a more detailed assessment of your purchasing potential.

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