Calculate your Property Buying Costs



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Home loan comparison

Lender

Variable
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loans.com.au – Variable Home Loan (LVR < 90%)

    Variable
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    HSBC – Home Value Home Loan (Principal and Interest) (LVR < 80%)

      Fixed
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      Newcastle Permanent – Fixed Rate Home Loan (Principal and Interest) 1 Year

        Variable
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        Beyond Bank – Purple Basic Variable Home Loan (New Customer) (LVR 60%-80%)

          Variable
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          Athena – Straight Up Owner Occupied - Celebrate (LVR 50%-60%) (Principal and Interest)

            Fixed
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            IMB Bank – Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR ≤ 80%)

              Variable
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              Liberty Financial – Liberty Low Rate Home Loan (LVR < 95%)

                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of July 25, 2024. View disclaimer.

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                Purchase: Property Buying Costs Calculator

                The calculator does not take into account any grants or rebates that the user may be eligible for.

                Stamp Duty

                The calculator assumes that the user is an Australian resident or citizen, and does not take into account whether the property is owner-occupied or investment. The calculator only includes duty rates for properties with a value of up to $2 million.

                Fees

                Property transfer fees and mortgage registration fees are taken from the relevant state or territory land titles office websites as at April 2020.

                Lender's Mortgage Insurance

                The calculator estimates the amount of lender's mortgage insurance and includes it as an upfront cost, not as part of the loan.

                Repayments

                We assume that:

                • Repayments are made on a monthly basis;
                • The interest rate charge is divided equally over 12 monthly payments; and
                • Interest is charged to the loan account at the same frequency and on the same day as the repayments are made.

                Only your initial repayment amount is calculated. We assume that this repayment amount is payable for the loan term. In practice, repayment amounts can change for a variety of reasons.

                Factors to Consider Before Buying a Property

                Whether you are a first-time home buyer or buying a second home, there are many factors to keep in mind when thinking of purchasing a property. Changes in interest rates, loan fees, stamp duty, and property market trends are just a few examples.

                To help you understand the process and costs, here are some of the most important things to consider before purchasing a property:

                Job Security

                Over the past year, we have seen how the pandemic has caused many employees to lose their jobs. While there is a little chance of this happening again (fingers crossed), job security should be considered when you want to buy a property.

                The last thing you want is to agree on a mortgage only to find yourself yourself jobless shortly after. It is best to have secure employment before agreeing to any loan commitments.

                Duration of your Stay

                One of the most important factors to consider is how long will you be staying in the house? Sometimes, it might be economically better to rent a property rather than buying when you will only live in the house for a short period of time.

                Mortgage Loan Rates

                It is also important to consider the mortgage rates. Fluctuations in interest rates can have a significant impact on your home loan repayments. Comparing home loan rates between different lenders can often help you get the best deal.

                Property Buying FAQs

                Property investment can be a good investment, depending on your personal financial circumstances renting out an investment property can produce an ongoing passive income, and the property could increase in value over time.

                The costs that are involved in buying a house would include the following: initial deposit, stamp duty, conveyancing and other legal fees, mortgage insurance, transfer fees, and loan application fees.

                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of 9 July 2024.

                ^The addition of offset sub-account means your comparison rate will change.

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