First Home Buyer Calculator Australia
Calculate the total upfront costs of buying your first home in Australia. Enter your property price, state, deposit, and property type to see stamp duty concessions, First Home Owner Grant (FHOG) eligibility, Lenders Mortgage Insurance (LMI), and the total deposit needed — all calculated privately in your browser.
How the First Home Buyer Calculator Works
A first home buyer calculator is a free tool that estimates the total upfront costs of purchasing your first property in Australia, including stamp duty concessions, government grants, lenders mortgage insurance, and monthly repayments. Enter your property price, select your state or territory, specify your deposit amount, and choose whether the property is a new build or established home. The calculator instantly processes all applicable concessions and costs based on current 2025-26 rates for your jurisdiction.
Results include your stamp duty after first home buyer concessions, FHOG eligibility and grant amount, estimated LMI if your deposit is below 20%, total upfront costs, and indicative monthly mortgage repayments. All calculations run entirely in your browser with no data sent to any server.
First Home Owner Grant (FHOG) by State
The First Home Owner Grant is a national scheme funded by each state and territory government. Grant amounts and eligibility thresholds vary significantly across jurisdictions. As of 2025-26, NSW offers $10,000 for new homes valued up to $600,000. Victoria provides $10,000 for new homes up to $750,000. Queensland offers the most generous grant at $30,000 for new homes under $750,000. Western Australia provides $10,000 for new homes under $750,000. South Australia offers $15,000 for new homes under $650,000.
Tasmania provides $30,000 for new homes under $750,000. The ACT offers a $7,500 stamp duty concession rather than a traditional FHOG. The Northern Territory provides $10,000 for new homes and a $2,000 renovation grant. All grants apply only to new builds or substantially renovated properties — established homes are not eligible for FHOG in any state. You must be an Australian citizen or permanent resident, aged 18 or over, and intend to live in the property for at least six to twelve months.
Stamp Duty Concessions for First Home Buyers
Beyond the FHOG, most states offer separate stamp duty exemptions or reductions for first home buyers. In NSW, first home buyers pay zero stamp duty on properties up to $800,000 and receive a sliding concession between $800,000 and $1,000,000. Victoria exempts properties up to $600,000 with a concession up to $750,000. Queensland provides a concession for properties up to $550,000. These concessions apply to both new and established properties, unlike FHOG which is new-homes only.
Understanding the difference between FHOG (new homes only, cash grant) and stamp duty concessions (new and established, duty reduction) is critical for budgeting. This calculator applies both where eligible, showing you the combined savings available in your state.
Understanding Lenders Mortgage Insurance (LMI)
Lenders Mortgage Insurance is a one-off premium charged by lenders when your deposit is less than 20% of the property value. LMI protects the lender (not you) against default, and the cost increases as your loan-to-value ratio rises. For a $700,000 property with a 10% deposit, LMI can cost between $12,000 and $18,000 depending on the lender and insurer. LMI is typically added to your loan balance, increasing your total debt and monthly repayments.
First home buyers can avoid LMI through the federal Home Guarantee Scheme, which allows eligible buyers to purchase with as little as 5% deposit without paying LMI. Places are limited and allocated on a first-come basis each financial year. The First Home Super Saver Scheme also helps by allowing you to withdraw up to $50,000 in voluntary super contributions for your deposit, potentially reducing your LVR below the 80% threshold.
Frequently Asked Questions
What is the First Home Owner Grant (FHOG)?
The First Home Owner Grant is a one-off payment from your state or territory government to help first home buyers purchase or build a new home. Grant amounts range from $7,500 in the ACT to $30,000 in Queensland and Tasmania. The grant applies to new builds only — established homes are not eligible. You must be an Australian citizen or permanent resident, aged 18+, and intend to live in the property for at least 6-12 months.
Do first home buyers pay stamp duty in Australia?
Most states offer significant stamp duty concessions for first home buyers. NSW exempts properties up to $800,000 with a sliding concession to $1,000,000. Victoria exempts up to $600,000. Queensland provides concessions up to $550,000. These concessions apply to both new and established properties, unlike FHOG which is new-homes only. The exact saving depends on your state and property price.
What is Lenders Mortgage Insurance (LMI)?
LMI is a one-off insurance premium charged when your deposit is less than 20% of the property value. It protects the lender against default, not you. LMI costs range from 0.8% to 5% of the loan amount depending on your loan-to-value ratio. You can avoid LMI by saving a 20% deposit or qualifying for the federal Home Guarantee Scheme, which allows purchases with as little as 5% deposit without LMI.
How much deposit do I need for my first home?
Most lenders require a minimum 5% deposit, though 20% is ideal to avoid Lenders Mortgage Insurance. For a $700,000 property, a 5% deposit is $35,000 and a 20% deposit is $140,000. The First Home Super Saver Scheme lets you withdraw up to $50,000 from voluntary super contributions for your deposit. Government guarantee schemes can also help bridge the gap.
What is the First Home Super Saver Scheme?
The First Home Super Saver Scheme (FHSSS) allows you to withdraw up to $50,000 in voluntary superannuation contributions to use towards your first home deposit. Contributions are taxed at 15% in super rather than your marginal rate, making it a tax-effective way to save. You must apply to the ATO to determine your eligible amount before signing a contract.
Can I get both FHOG and stamp duty concession?
Yes, in most states you can receive both the First Home Owner Grant and a stamp duty concession, provided you meet the eligibility criteria for each. FHOG requires a new build while stamp duty concessions typically cover both new and established homes. For example, a first home buyer in NSW purchasing a $590,000 new home would get the $10,000 FHOG plus full stamp duty exemption.
How accurate is this calculator?
This calculator uses the official 2025-26 stamp duty rates and FHOG amounts for each state and territory. LMI is estimated based on typical insurer rates and may vary by lender. Conveyancing and inspection costs are estimates — actual costs depend on your location and provider. Always confirm exact figures with your conveyancer, lender, and state revenue office before making financial decisions.