Stamp duty calculator
Use our stamp duty calculator to estimate non-standard costs such as home loan application fees, stamp duty and Lenders Mortgage Insurance (LMI) in your state. Keeping on top of potential upfront costs when buying or selling your property is important.
Frequently asked questions about home buying costs
When you're buying a house, you'll need to take in to account costs like your deposit, stamp duty, bank and government fees, inspections, settlement agent fees and moving costs. Remember, if you're buying your first home, you might be eligible for government grants and concessions. Read more about the upfront costs of purchasing property.
Once you own a house, there are some ongoing costs you should budget for such as your mortgage repayments, annual loan fees, home and contents insurance, household utilities and maintenance costs.
Frequently asked questions about stamp duty
Stamp duty is probably one of your largest upfront costs. It’s a state or territory government tax that’s charged for your legal documents to be stamped. Your stamp duty is calculated based on your property's price, location and primary use (owner-occupied or investment property). Stamp duty varies by state or territory and stamp duty laws are always subject to change, so make sure you check your state or territory government’s housing website for the most up-to-date information.
You'll usually need to pay stamp duty after settlement on the sale of your property – though the exact payment window depends on the state or territory. Check out the relevant government website for detailed settlement requirements:
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
If you've bought your property off-the-plan, your stamp duty payment may be deferred for up to 12 months.
Depending on your situation and location, you could get stamp duty exemptions or concessions when you buy your first home. Other exemptions may also be offered in some circumstances. Check your state or territory government’s housing website for the most recent information.
Frequently asked questions about LMI
It's a type of home loan insurance to protect your lender's potential losses if you're unable to pay off the home loan. You have to pay LMI if your deposit is less than 20% of the property value. LMI can be paid upfront or added to your home loan amount. It doesn't cover home loan repayments if you're unable to meet your repayment obligations.
LMI is a one-off fee calculated based on the value of the property, how much deposit you have and the total loan amount. The smaller your deposit is under 20% of the property value, the more LMI you have to pay. Our calculator can give you an idea of how much LMI you may have to pay based on the size of your deposit and the value of the property you want to buy.
Not quite. Both LMI and MPI are paid by you when you purchase a property, but they cover different things. LMI protects the bank in case you're unable to make your home loan repayments, while MPI protects you by covering your monthly mortgage repayments if you’re unable to work due to serious illness, disability, redundancy or death.
To avoid paying LMI, you'll need a deposit that is at least 20% than the total value of the property you want to buy. If you need help getting there, you can:
- Check out our guide on saving for a house deposit
- Use equity on your existing home when buying a second property or investment property so you don’t have to put any physical cash towards the deposit
- Get a helping hand from a family member to act as your home loan guarantor.
More tools to help you
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Talk to a Home Lending Specialist about the costs of buying or selling.
