Estimated borrowing capacity for a $60K gross annual salary based on Australian lender assessment criteria. Includes scenarios for single applicants, couples, borrowers with dependants, and those with HECS-HELP debt.
Lenders assess your capacity at a stressed rate (currently around 9% — your actual rate plus a 3% APRA buffer). The table below shows estimated maximum borrowing across common household scenarios.
| Scenario | Max Borrowing | Monthly Repayment (6.5%) | Property Budget (20% deposit) |
|---|---|---|---|
| Single, no kids, no HECS | $298,276 | $1,885/mo | $372,846 |
| Single, no kids, with HECS | $273,420 | $1,728/mo | $341,775 |
| Couple (equal income), no kids | $795,404 | $5,027/mo | $994,255 |
| Couple, 2 kids | $546,840 | $3,456/mo | $683,550 |
| Single, 1 kid | $248,564 | $1,571/mo | $310,705 |
Single on $60K: Maximum borrowing of approximately $298,276. With a 20% deposit, this supports a property budget of around $372,846.
APRA requires lenders to assess your ability to repay at a rate at least 3 percentage points above the loan product rate. With current variable rates around 6.0–6.5%, the assessment rate sits at approximately 9.0–9.5%. This buffer exists to protect you (and the lender) from future rate increases. It is the single biggest factor limiting borrowing capacity in 2026.
| Deposit | LVR | Max Property (Single) | Max Property (Couple) |
|---|---|---|---|
| 20% | 80% | $372,846 | $994,255 |
| 10% | 90% | $331,418 | $883,782 |
| 5% | 95% | $313,975 | $837,267 |
Note: A 5% deposit requires LMI (unless covered by the First Home Guarantee) and may not be offered by all lenders. The 20% deposit figures assume no LMI and represent the most straightforward lending scenario.
HECS-HELP (now called HELP) debt reduces your borrowing capacity because lenders include the compulsory repayment in their assessment. At a $60K salary, the compulsory HECS repayment rate is approximately 4% of your income, which is $2,400 per year or $200/month. This reduces maximum borrowing by approximately $24,856 compared to a borrower without HECS.
If you can afford to pay off your HECS debt before applying for a mortgage, the improved borrowing capacity may be worth more than the debt amount. Run the numbers for your specific situation.
At a $60K salary with a 20% deposit, here is how your borrowing capacity compares to median house prices in each capital city:
| City | Median House | Your Budget (Single) | Affordable? |
|---|---|---|---|
| Sydney | $1.2M | $372,846 | No (consider units) |
| Melbourne | $890,000 | $372,846 | No (consider units) |
| Brisbane | $810,000 | $372,846 | No (consider units) |
| Perth | $680,000 | $372,846 | No (consider units) |
| Adelaide | $700,000 | $372,846 | No (consider units) |
| Hobart | $590,000 | $372,846 | No (consider units) |
| Canberra | $870,000 | $372,846 | No (consider units) |
| Darwin | $510,000 | $372,846 | No (consider units) |
Or use our borrowing capacity calculator to model your exact situation with custom inputs.