Mortgage Calculator — Victoria, Australia
Pre-filled with Victoria's average home price of A$820000, council rates of A$1900/year, and a standard variable rate of 5.8%. Adjust any value below.
APRA Serviceability Buffer: Australian lenders assess your loan at 9.24% (your rate + 3% buffer). You must demonstrate repayment capacity at this higher rate, even though your actual repayments are based on 5.7%.
1 Loan Details
2 Ongoing Costs (Victoria averages pre-filled)
Include LMI
Required when deposit < 20% (LVR > 80%)
Estimated Monthly Repayment
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Enter your loan details to see your repayment
Total Interest Paid
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Over loan lifetime
Total Cost
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Principal + interest
Loan Amount
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Amount financed
Deposit
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Of property price
Monthly Repayment Breakdown
Balance Over Time
Rate Comparison
How your repayment changes with different interest rates
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Loan Repayment Schedule
Full month-by-month repayment breakdown
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Victoria Property Market
Victoria is Australia's second most populous state with Melbourne as its dominant market. Melbourne experienced a price correction post-COVID but has seen renewed demand from population growth and overseas migration. Regional Victoria (Geelong, Ballarat) remains more affordable with good transport links to Melbourne.
Buying in Victoria
Melbourne offers better value than Sydney on a price-to-income basis, though still remains stretched. Victoria's land tax regime (applying to investment properties) has modestly increased rental supply but added costs for investors. A 20% deposit on A$820,000 requires A$164,000 in savings.
Stamp Duty
Victoria charges land transfer duty on a sliding scale. On A$820,000, duty is approximately A$44,000. First-home buyers are exempt on properties valued up to A$600,000 and receive a 50% concession up to A$750,000 (principal place of residence only).
Lenders Mortgage Insurance (LMI)
LMI is required when LVR exceeds 80%. Victoria's high property prices mean LMI premiums can be substantial — typically A$6,000–A$18,000 depending on the LVR tier and loan amount. LMI can be capitalised into the loan.
First Home Owner Grant
Victoria's First Home Owner Grant provides A$10,000 for new homes in metropolitan areas and A$20,000 in regional areas. The First Home Buyer Duty Exemption applies to properties up to A$600,000.
Key Markets
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