Skip to content
CentExact
Country

Borrowing

Mortgage Calculator: Australia

Work out your full monthly mortgage payment and what it costs to buy, with each country's own transfer tax, mortgage insurance and property tax. 15 countries.

Reviewed by CentExactRates effective 1 sourceCalculated in your browser. Shared links include inputs.

Stamp duty is a state tax, and the scale here is New South Wales

Transfer duty is levied by the states and territories, each on its own banded scale, and the calculator uses the Revenue NSW scale as the largest single market. Victoria, Queensland, Western Australia and the rest run their own bands and their own first-home concessions, so a Melbourne or Brisbane buyer should check their state revenue office before trusting the completion figure.

The NSW scale is genuinely progressive, from 1.25% at the bottom to a 7% premium rate on high-value homes, applied marginally. Revenue NSW indexes the band thresholds to CPI every 1 July and publishes rounded base amounts per band rather than the marginal arithmetic used here, so a result can sit a little away from their current table.

Every state also runs first-home buyer concessions and exemptions, none of which are modelled. For a first purchase under the relevant threshold the duty shown may be far too high, sometimes zero in reality.

LMI is priced by the insurer, and added to the loan

Lenders mortgage insurance protects the lender, not you, and is charged above 80% loan-to-value. It rises steeply with the ratio, roughly 1% of the loan at 85%, 2% at 90% and 3.5% at 95%, and unlike Canadian CMHC premiums it is set by the insurer and the lender rather than by statute, so your quote will differ from the mid-market tiers used here.

It is capitalised, so it does not appear in your cash to complete; it appears as a larger loan carrying interest for thirty years. Getting to a 20% deposit avoids it outright, which on a typical purchase is worth more than a year of repayments.

Council rates are a flat annual charge set by each council, not a percentage of value, so the running-cost field asks for a yearly amount. Strata fees on an apartment are separate again and can be substantial.

For how the calculation works, the formula behind it and what it leaves out, see the full guide. For help interpreting a result or comparing it with a quote or statement, read the questions and answers.

Data sources

Australian transfer duty and lenders mortgage insuranceRevenue NSWWithin its effective period

Every document each dataset was read from, its notes and how the figures were checked are listed in the guide's data sources.

This calculator in other countries

Each country has its own rates, thresholds and rules, and its own page that runs the calculator on them and cites the official sources they came from.

CentExactCalculator publisher

CentExact publishes the calculation method, worked examples and available data sources. Automated checks cover reference calculations; they do not certify a result for your circumstances or imply approval by a lender or tax authority.

How we build and test our calculators

This calculator is for general information only and is not financial advice. Results are estimates based on the figures you enter and the stated formula; lenders and providers may round or calculate differently. Check any decision with the institution involved or a qualified adviser.