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On a $70,000 gross salary with minimal debts and average expenses, your estimated borrowing power is approximately $345,000–$415,000. This represents a meaningful step up from the $60K bracket, opening more property options in suburban and regional markets.
Use our Borrowing Power Calculator for a personalised estimate based on your income, debts, and expenses.
With a 20% deposit ($95,000) on a $475,000 property, you avoid LMI. The First Home Guarantee scheme allows 5% deposit ($23,750). Most first home buyers on $70K target a 10% deposit ($47,500) and factor in $6,000–$10,000 LMI.
Possibly, but it depends on your debts and expenses. With zero debts and low declared expenses, some lenders will approve $400K+. With a car loan or credit card debt, you're more likely in the $345K–$370K range.
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