What Are
The Costs Of Purchasing And Borrowing?
These vary quite a bit, depending on the cost
of the property and which state it is located in,
the amount borrowed, which lender and whether mortgage
insurance is required.
It is important that you know the overall figure.
To do this, we include all fees and costs, including
your solicitor, all state government duties and
fees (not just stamp duty), council/shire rate adjustments
and sundries.
Here are some examples of purchases of established
properties (not off-the-plan, which saves on stamp duty) to assist you. For an accurate amount
please contact us on (03) 9852 4444 or email us
at info@allhomeloans.com.au
(Rounded to the nearest $1,000 - Includes stamp
duties, other government charges, estimated legals
& loan establishment fees.)
When you borrow less than 80% of the purchase price,
generally there is no Lender’s Mortgage Insurance
(LMI) payable. The higher costs at higher percentage
borrowings are due solely to LMI. So, the bigger
your deposit, the lower the LMI.
Victoria:
|
Purchase
Price |
%
Loan Value |
Allow
Approximately |
$200,000 |
80% |
$10,000 |
| $200,000 |
90% |
$12,000 |
$200,000 |
95% |
$15,000 |
| $200,000 |
100% |
$17,000 |
| $250,000 |
80% |
$13,000 |
| $250,000 |
90% |
$16,000 |
| $250,000 |
95% |
$20,000 |
| $250,000 |
100% |
$22,000 |
$300,000 |
80% |
$16,000 |
| $300,000 |
90% |
$20,000 |
$300,000 |
95% |
$24,000 |
| $300,000 |
100% |
$27,000 |
| $400,000 |
80% |
$22,000 |
| $400,000 |
90% |
$28,000 |
| $400,000 |
95% |
$35,000 |
| $400,000 |
100% |
$40,000 |
New South
Wales:
| Purchase
Price |
%
Loan Value |
Allow
Approximately |
If
1st Home Owners Grant |
$200,000 |
80% |
$9,000 |
$1,000 |
| $200,000 |
90% |
$12,000 |
$4,000 |
$200,000 |
95% |
$13,000 |
$6,000 |
| $200,000 |
100% |
$14,000 |
$8,000 |
| $250,000 |
80% |
$11,000 |
$1,000 |
| $250,000 |
90% |
$14,000 |
$6,000 |
| $250,000 |
95% |
$17,000 |
$8,000 |
| $250,000 |
100% |
$18,000 |
$10,000 |
$300,000 |
80% |
$13,000 |
$1,000 |
| $300,000 |
90% |
$17,000 |
$7,000 |
$300,000 |
95% |
$19,000 |
$9,000 |
| $300,000 |
100% |
$22,000 |
$12,000 |
| $400,000 |
80% |
$18,000 |
$1,000 |
| $400,000 |
90% |
$24,000 |
$8,000 |
| $400,000 |
95% |
$29,000 |
$14,000 |
| $400,000 |
100% |
$34,000 |
$19,000 |
Queensland:
| Purchase
Price |
%
Loan Value |
Allow
Approximately |
If
1st Home Owners Grant |
$200,000 |
80% |
$5,000 |
$1,000 |
| $200,000 |
90% |
$8,000 |
$5,000 |
$200,000 |
95% |
$9,000 |
$7,000 |
| $200,000 |
100% |
$11,000 |
$8,000 |
| $250,000 |
80% |
$5,000 |
$1,000 |
| $250,000 |
90% |
$8,000 |
$6,000 |
| $250,000 |
95% |
$11,000 |
$8,000 |
| $250,000 |
100% |
$13,000 |
$10,000 |
$300,000 |
80% |
$7,000 |
$2,000 |
| $300,000 |
90% |
$11,000 |
$6,000 |
$300,000 |
95% |
$13,000 |
$11,000 |
| $300,000 |
100% |
$16,000 |
$13,000 |
| $400,000 |
80% |
$11,000 |
$7,000 |
| $400,000 |
90% |
$17,000 |
$15,000 |
| $400,000 |
95% |
$22,000 |
$20,000 |
| $400,000 |
100% |
$27,000 |
$25,000 |
|
