First Home Buyer Eligibility & Affordability Calculator

One guided check for the Scheme rules and the number that matters: what you may actually be able to buy.

Start with the deposit pathway you may qualify for, then compare that against the price range your income and savings could support. The calculator gives you a planning estimate, but a participating lender makes the final call on the scheme and your loan.

It covers the headline rules of the Australian Government 5% Deposit Scheme, including the eligible 2% single-parent or legal-guardian pathway. The second half estimates borrowing power and your buying costs. State grants and duty concessions run their own eligibility tests, though, so qualifying for one doesn’t mean you qualify for the others.

The government guarantee can help you avoid LMI if you’re eligible, but it doesn’t pay your deposit or reduce what you owe the bank. For example, 5% of a $700,000 home is $35,000, leaving you a $665,000 loan before costs. At 2%, your deposit is $14,000 and the loan is $686,000 before costs.

There are no income caps or annual place limits under the current scheme settings, but property-price caps, ownership history, residence, citizenship or permanent-residency criteria and lender approval still apply. If you’re applying jointly, you’ll each need your own eligibility check, so use the official scheme guide to find the pathway that matches your household.

A low deposit can bring buying closer, but a larger loan means larger repayments, so check how much home you can afford alongside the deposit calculator.

Your state, contract date, property type, previous ownership and each buyer’s circumstances can all change the answer. A first-home grant may have different ownership, residence and price rules from a duty concession, too.

For Queensland transactions from 1 August 2026, you’ll need to meet the new citizenship or residency criteria as well as the other conditions to claim the home concession. Read the current Queensland stamp duty guide. Buying in NSW instead? Use the NSW stamp duty guide.

For eligible ACT Home Buyer Concession Scheme transactions from 1 July 2026, there’s no income threshold or property-value cap and conveyance duty is $0. The ownership and occupation conditions still matter, though, so confirm your eligibility with ACT Revenue before you bank that duty saving in your budget.

Get a separate duty calculation and grant check for your actual purchase before you commit. A calculator estimate can differ if an eligibility exception or a recently changed rule applies to you.

A professional LMI waiver can change the cost of a low-deposit loan if you meet the lender’s criteria, while a guarantor home loan may cover a deposit gap using family property, but it won’t add income to your application, and it can put that property at risk.

Our guarantor versus 5% Deposit Scheme comparison explains the family-risk difference, and the First Home Super Saver Scheme is another option worth investigating, with its own contribution and release rules.

Ask a broker to check the scheme pathway, your accepted income, debts and expenses, the property cap and the cash you’ll need for settlement. Include conveyancing, inspections, loan costs and a buffer after you move in, too. Grant payment timing matters as well, because money you receive later may not be available when your contract deposit is due.

Lenders can assess overtime, bonuses and self-employed income differently, so our Commonwealth Bank and NAB guides explain lender features and the questions worth asking. Confirm the current product and scheme participation for your own application. Start with the first home buyer guide for the full buying process.