This is Locale’s independent budget model. It does not reproduce any bank’s proprietary lending assessment. For before-tax income it estimates 2026–27 resident income tax separately for each applicant and deducts a flat 2% Medicare allowance. It excludes tax offsets, Medicare reductions, exemptions, surcharge, deductions and automated HELP calculations. Use take-home income and ongoing debt payments for a closer budget estimate. Other income is included at 80%; lender acceptance varies. Investment tax deductions and negative gearing are not modelled.

Monthly income less living costs, continuing debts, ongoing rent, 3% of credit card limits and extra breathing room gives the repayment allowance. Living costs use the greater of your entry or an illustrative floor: $2,200 for one applicant or $3,500 for two, plus $500 per dependant by default. These figures are not HEM or a lender’s minimums and can be edited. Estimated capacity uses the selected interest rate plus a 3 percentage-point buffer by default, over the entered term, and rounds down to the nearest $1,000.

Property budget equals borrowing capacity divided by one minus the deposit percentage. Deposit equals that budget multiplied by the selected percentage. Changing deposit alone changes the funds required and property budget, not this income-based borrowing estimate. Low-deposit products have separate eligibility, pricing and LMI rules; this model does not check them.

If selected, the WA grant is modelled only for a home to live in, within the applicable total transaction value cap: $800,000 south of the 26th parallel and $1 million north, for eligible transactions from 7 May 2026. The grant is up to $10,000, capped at the remaining loan in this model. It reduces the loan and repayments for the displayed property budget; it does not increase the borrowing-capacity figure or replace the own-funds deposit. Valuations, variations, applicant eligibility and payment timing require separate checks. No grant is included for investment use.

Repayments use the displayed loan amount, interest rate and term. Weekly and fortnightly figures are monthly repayments multiplied by 12 then divided by 52 or 26, not accelerated repayments. Comparison rates include interest and certain fees and are product-specific. A comparison rate is shown only when verified information for a matching loan product is available. It is not used to calculate the repayments.

Results exclude fees, LMI, stamp duty, construction-stage cash flow, future rate changes, lender expense tests, credit history and debt-to-income policy. Rates are illustrative and are not offers from Locale or a bank. This tool gives general estimates, not financial advice or approval. Inputs are not submitted or stored by this module.

Sources checked 13 October 2026: ATO resident tax rates, RevenueWA grant rules, APRA buffer and Moneysmart loan comparisons.