Melbourne Purchasing Power Calculator
Combine what a bank will lend with your deposit and upfront costs to see your true buying budget across Melbourne. A clearer guide than borrowing power alone.
A lender’s yes and what you can actually afford to buy in Melbourne aren’t the same number. Your deposit and upfront costs change the equation. Run your figures, then take the result to a broker for pre-approval.
Start with your income, subtract existing debts and living costs, then add your deposit and subtract Melbourne-specific upfront costs like stamp duty and any lender’s mortgage insurance. What’s left is roughly what you can spend on a property. The calculator runs this for you automatically.
Yes. Borrowing power is simply the ceiling a lender will approve, while purchasing power layers your deposit and Melbourne’s upfront costs like stamp duty and LMI on top, so it reflects what you can actually spend, not just what you could borrow.
Yes, and it does double duty. It adds directly to your budget and can help you clear the loan-to-value threshold where lenders start charging LMI, which matters in Melbourne given how much stamp duty already eats into a deposit.
This calculator gives a general estimate only. It is not a loan offer, quote, pre-approval or lending commitment. Your actual purchasing power depends on a full credit assessment, individual lender criteria, fees and your personal financial circumstances, and the figure shown may not capture every upfront cost involved in a Victorian property purchase. This isn’t financial or credit advice. Speak with one of our accredited Melbourne mortgage brokers before you start making offers.