Purchase capacity index for Non First Home Buyers
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Non First Home Buyer - Owner Occupied

If you're wanting to purchase a home to live in and are not a first home buyer, the only difference between your situation and that of a first home buyer is your eligibility for the First Home Owners Grant and for Stamp Duty Exemptions. Therefore, for a given property price, you may need a higher deposit compared to a first home buyer. On the plus side, however, non first home buyers generally do not need to show any evidence that they have saved up their deposit ie you can get your deposit from any source ie your own savings or a gift from family etc.

Find the table that applies to you below for your capacity..

  1. Sole applicant
  2. Joint applicants
  3. Joint applicants + 1 child
  4. Joint applicants + 2 children
  5. Joint applicants + 3 children
  6. Joint applicants + 4 children
  7. Information and assumptions

 

Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Sole

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $160,466 $238,111 $319,202 $400,547 $472,625 $519,983 $633,726 $721,044
DepositRequired $14,786 $21,685 $29,090 $37,134 $44,261 $48,968 $91,776 $140,666
WeeklyPandIRepay $235 $349 $472 $592 $699 $778 $908 $976
WeeklyIntOnlyRepay $200 $297 $400 $502 $593 $652 $762 $818

 

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Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Joint Applicants

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $137,690 $219,476 $303,332 $380,983 $458,209 $559,612 $641,244 $771,085
DepositRequired $12,762 $20,029 $27,515 $35,199 $42,836 $80,754 $92,894 $150,600
WeeklyPandIRepay $202 $321 $444 $563 $678 $802 $919 $1,044
WeeklyIntOnlyRepay $172 $274 $379 $478 $575 $673 $771 $875

 

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Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Joint Applicants with 1 dependent child

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $124,232 $203,947 $279,521 $356,271 $434,527 $508,664 $599,354 $719,907
DepositRequired $11,566 $18,649 $25,365 $32,756 $40,494 $47,825 $86,664 $140,440
WeeklyPandIRepay $182 $299 $409 $527 $643 $752 $859 $974
WeeklyIntOnlyRepay $155 $255 $349 $447 $545 $638 $720 $817

 

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Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Joint Applicants with 2 dependent children

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $113,879 $194,629 $268,133 $335,677 $410,844 $489,100 $578,946 $651,985
DepositRequired $10,646 $17,822 $24,353 $30,719 $38,152 $45,891 $83,629 $94,492
WeeklyPandIRepay $167 $285 $392 $496 $608 $723 $830 $934
WeeklyIntOnlyRepay $142 $243 $335 $421 $515 $614 $696 $784

 

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Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Joint Applicants with 3 dependent children

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $102,491 $182,206 $255,710 $323,321 $392,310 $464,388 $567,131 $647,689
DepositRequired $9,634 $16,718 $23,249 $29,497 $36,319 $43,447 $81,872 $93,853
WeeklyPandIRepay $150 $267 $374 $478 $580 $687 $813 $928
WeeklyIntOnlyRepay $128 $227 $319 $406 $492 $583 $682 $778

 

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Home Loan Advice Centre - Purchase Capacity Index

Owner Occupied - Joint Applicants with 4 dependent children

GrossYearlyIncome $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000
MaxPropertyPrice $91,103 $170,818 $244,322 $311,994 $380,983 $449,972 $512,860 $622,984
DepositRequired $8,622 $15,706 $22,237 $28,377 $35,199 $42,021 $48,264 $90,179
WeeklyPandIRepay $133 $250 $358 $459 $563 $666 $767 $893
WeeklyIntOnlyRepay $114 $213 $305 $389 $478 $564 $643 $749

 

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Assumptions

  1. all calculations done assuming no other debt and zero credit card limits
  2. all loans < 500K calculated as 95% LVR loans
  3. all loans 500K - 600K calculated as 90% LVR loans
  4. all loans >600K calculated as 85% LVR loans
  5. assumes all mortgage insurance premiums can be capitalised.
  6. incomes for joint applicants are split evenly, results may differ slightly if otherwise.
  7. maximum lend is calculated by running income figures over a number of banks serviceability calculators and using "near maximum result"
  8. repayments based on interest rate of 6.72%. Actual interest rate should be in this vicinity however is dependent which lenders customers qualify for
  9. dependent children classified as <18y old and living at home. Capacities shown may increase slightly if family allowance benefits are receivable.

© Home Loan Advice Centre 2005 – all information provided on the Home Loan Advice Centre website is intended as general information only and is not provided as professional advice. Home Loan Advice Centre does not warrant the accuracy or completeness of any information on this website and does not accept liability or responsibility for any information nor for any actions taken by you or any another party in connection with it.

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