Victoria mortgage calculator
Estimate your monthly mortgage payment for a home in Victoria, Australia. Adjust the home price, deposit, rate, and term below for an instant breakdown.
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Victoria mortgage inputs
Enter your gross monthly income above to see an affordability read (based on the standard 28% front-end DTI guideline).
Loan amount: $560,000
Default rate (6.15%, Variable, owner-occupier P&I (new loans)) is the Australia national average as of 2026-05-31 — edit it to match your own quote.
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Frequently asked questions
How is my monthly mortgage payment calculated?
Your total monthly payment is principal and interest (calculated with the standard fixed-rate amortization formula) plus 1/12 of your annual council rates, 1/12 of your annual home insurance, and any monthly HOA/strata/service charge. Adjust any of the inputs above to see how each one changes your total.
What deposit do I actually need?
Lenders commonly want 20% to avoid Lenders Mortgage Insurance (LMI) — this calculator flags when LMI likely applies. Smaller deposits are possible but mean a larger loan and higher payment, shown directly above.
What does the affordability verdict mean?
It uses the standard 28/36 front-end debt-to-income guideline that most lenders reference: a payment at or under 28% of your gross monthly income is considered comfortable, 28–36% is a stretch worth budgeting carefully for, and over 36% is tight by most lenders’ standards. Enter your gross monthly income to see your own number.
Is council rates the same everywhere in Victoria?
No — Council rates is set by your local council/authority and varies significantly by area and property band. The amount above is a rough starting point; check your local council's published rates and adjust the field to match.
Does this calculator store or send my information anywhere?
No. Every number you enter is calculated directly in your browser — nothing is saved, logged, or sent to a server. There’s no account, no email required, and no lead form.