First Home Buyer Calculator
Work out your deposit position as a first home buyer: duty after concessions, LVR, lenders mortgage insurance and cash needed at settlement.
Grant amounts vary by state — check your revenue office.
Your results
Calculation breakdown
- Deposit available
- Savings + grant − duty − other upfront costs
- Loan required
- Purchase price − deposit available
- LVR
- $604,000.00 ÷ $750,000.00 × 100 = 80.53%
- First home duty treatment
- Full exemption: value is at or below the property threshold.
Assumptions
- 2026–27 · Source: Revenue NSW · Last verified 2026-06-26
- Official source: https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty
- LMI is a rough percentage of the loan; real premiums depend on the lender, LVR band and loan size.
- Grant amounts and eligibility rules differ in every state and territory and are entered by you.
- Lender assessment, genuine savings rules and guarantor arrangements are not modelled.
How this calculator works
Buying a first home takes more cash than the deposit alone. Transfer duty, conveyancing, inspections, loan fees and moving costs all come out of your savings before a single dollar reaches the deposit, which is why buyers are often surprised by their real loan-to-value ratio. This calculator subtracts your upfront costs from your savings and any grant, then shows the deposit that is actually left, the loan you would need, your LVR and whether lenders mortgage insurance is likely. LMI usually applies above 80% LVR and is charged as a premium on the loan, so a small change in deposit can make a large difference to total cost. Grant amounts and duty concessions differ in every state and territory, so enter the figures that apply where you are buying.
Frequently asked questions
How much deposit do I actually need?
A 20% deposit avoids lenders mortgage insurance with most lenders, but many first home buyers borrow with less and either pay LMI or use a guarantor or government support scheme. Remember the deposit sits on top of duty and other upfront costs.
Does the first home owner grant reduce my deposit requirement?
A grant adds to the funds available at settlement, so it can lift your effective deposit or offset upfront costs. Amounts, property value caps and new-build conditions vary by state and territory, so check the current rules before counting on one.
Is lenders mortgage insurance refundable?
LMI protects the lender, not you, and is generally not refundable once the loan settles, although some insurers offer a partial refund if the loan is repaid very early. Treat it as a real cost of borrowing with a smaller deposit.
Results are estimates only and are not financial, tax, legal or credit advice.