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Borrowing power

Links Property Finance · Home loans for first home buyers: How Much Can I Borrow on $70k?

A single applicant on $70,000 with no debts reaches about $260,000 on our calculator assumptions. Two incomes of $70,000 reach about $575,000, which is where a Sydney apartment comes into range.

Reviewed by Charles Touma Updated 18 October 2026

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How much can you borrow on $70,000 a year?

Seventy thousand dollars is a common starting salary for a nurse, a teacher, a tradesperson in the first years or an administrator, and it is the income where the question is less how much and more how.

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On one income the loan stops short of most Sydney apartments. With a second income, a parent’s guarantee or a longer saving plan the picture changes quickly, because almost every extra dollar at this level is counted.

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This page shows the chain from $70,000 to the loan figure, the three things that drag it down, and the three that lift it.

Part of the first home buyer loans guide.

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Your own figure on $70,000

How much could you borrow?

$70,000
None

What moves the number

Choose any that apply. Each shows roughly how much it changes the figure, the way a lender’s assessment would.

$260,000

is an indicative borrowing figure at today’s typical rates. Lenders typically count around 80% of rental income, which is why an investment purchase can lift your number, your real figure comes from a proper assessment.

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As a first home buyer, I was pretty overwhelmed at the start, but Charles made everything much easier. He explained the process step by step and helped me understand my borrowing options. His professionalism and responsiveness were excellent.
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What does the worked example show for $70,000, single, no debts?

From salary to loan figure on our calculator assumptions.

Gross income$70,000. Salary before tax.
Tax and Medicare levyAbout $12,900. Resident rates, no offsets.
Net income per monthAbout $4,760. After tax.
Living expenses allowedAbout $2,300. Single adult benchmark.
Surplus for repaymentsAbout $2,090. 85% of what is left.
Assessment rate9%. 6% example rate plus the 3% buffer.
Borrowing powerAbout $260,000. Serviced by $2,090 a month at 9% over 30 years.
Repayment at 6%About $1,560 a month. The actual repayment at the example rate.

Illustration only. Lenders apply their own benchmarks; at this income the difference between a generous and a strict lender is proportionally large.

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What moves the $260,000?

A couple sitting among moving boxes
  • A second income more than doubles it.Two people on $70,000 each are assessed on $140,000 combined, taxed separately, and reach about $575,000 on the same assumptions. A partner on $60,000 brings a $70,000 earner to about $525,000.
  • A $500 a month car loan takes about $55,000 off.On $70,000 the figure drops to roughly $205,000. At this income, clearing the car loan before applying is usually worth more than another year of saving.
  • HECS barely registers at this income.Compulsory repayments start above $69,528 in 2026–27, so on $70,000 the repayment is about $70 a year and the loan figure hardly moves. A pay rise changes that quickly.
  • Rent paid on time is evidence.A clean twelve-month rent record shows a lender you already carry a housing cost. Several lenders accept it in place of a long savings history, and the 5% Deposit Scheme removes LMI on a 5 per cent deposit.
  • Overtime and allowances can count.Nurses, police and shift workers often earn well above base salary. Lenders that count overtime at 100 per cent with a year of history can lift the figure substantially.
A couple on the front porch of their home

What does $260,000 of borrowing buy?

With a 5 per cent deposit under the 5% Deposit Scheme, $260,000 of borrowing supports a purchase near $275,000, and with 20 per cent down about $325,000. Under $800,000 an eligible first home buyer in NSW pays no transfer duty.

In Sydney that is a studio or a small unit in the outer ring, or a home in regional NSW, where the same scheme and the same first home buyer duty exemption apply.

Most single buyers on $70,000 who buy in Sydney do it with a partner, a guarantor or a gifted deposit, or wait for a pay rise and a larger deposit. The deposit calculator shows what each option supports, and the guarantor guide explains how a parent’s equity replaces cash.

How do three $70,000 scenarios compare?

Same salary, different outcomes on our assumptions.

  • Single, no debts, $20,000 savedAbout $260,000. A studio or small unit with the scheme, or a regional home.
  • Single with a $500 a month car loanAbout $205,000. The car loan is the difference between a unit and no unit.
  • Couple, $70,000 each, $50,000 savedAbout $575,000. A one- or two-bedroom apartment in many middle-ring suburbs.

Common questions about borrowing on $70,000

What could two incomes of $70,000 buy with the 5% Deposit Scheme?

An illustrative couple, an aged care worker and a retail manager each on $70,000 with no debts or children, can borrow about $575,000 on our calculator assumptions.

Under the 5% Deposit Scheme, a two-bedroom unit in an outer south-western suburb priced at $600,000 needs a $30,000 deposit and a $570,000 loan, with no lenders mortgage insurance.

Part of their deposit comes from the First Home Super Saver scheme: each had made voluntary super contributions, and each can have up to $50,000 of them released, plus associated earnings, if they request it before signing the contract.

As first home buyers under $800,000 they pay no transfer duty, so beyond the deposit they need only conveyancing, inspections and registration fees.

The repayment is about $3,420 a month, and the lender tests it at about $4,590. Two incomes of $70,000 carry that; one would not. This is an illustrative example, not a Links client: figures are rounded, at the 6% example rate over 30 years.

How much can I borrow on $70k a year?

About $260,000 as a single applicant with no debts on our calculator assumptions. The figure varies by lender, rises with a second income or counted overtime, and falls with a car loan, credit card limits or HECS.

Can I buy a house on $70,000 in Sydney?

Not on one income in most of Sydney: an outer-ring apartment is possible with the 5% Deposit Scheme, and a house becomes realistic with a partner or a guarantor.

How much deposit do I need on $70,000?

Under the 5% Deposit Scheme, about $14,000 plus costs on a $275,000 purchase. Twenty per cent to avoid LMI without the scheme is about $65,000 on a $325,000 purchase.

Does a guarantor help on $70,000?

Only with the deposit, not the income: a guarantor lets you buy sooner and without LMI, but the loan is still serviced from the $70,000, so the borrowing figure does not rise.

Will overtime count on $70,000?

Usually yes, with history. Most lenders count 80 per cent of regular overtime with two years of payslips, and some count 100 per cent for essential-services roles with one year.

What if I earn $70,000 and my partner earns $60,000?

About $525,000 combined on our assumptions with no debts and no children. Each income is taxed separately, which is why two incomes borrow more than their sum suggests.

Run the borrowing power calculator with your own income and commitments, and read the overtime and allowances guide if your payslips vary.

Get a straight answer for your situation

Charles runs your payslips, rent history and deposit through the lenders that treat lower incomes most fairly and tells you the price range you can bid in. Free, no credit check.

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Charles Touma, mortgage broker at Links Property Finance
Reviewed by Charles Touma Director & Mortgage Broker · MFAA member · Credit Representative 579003 under ACL 389328 About Charles · First home buyers · MFAA register · ASIC register · Complaints processEvery page is reviewed by Charles before it is published and checked against current lender policy and the official scheme pages linked where figures appear.

General information only, not credit or financial advice. The figures are illustrations built on stated assumptions, not a quote or an assessment of your position. Lender policy, rates and assessment rules change and differ between lenders. Links Property Finance holds an Australian Credit Licence authorisation and can assess your actual borrowing power.

Official sources for the figures on this page: Revenue NSW, First Home Buyers Assistance Scheme · Housing Australia, 5% Deposit Scheme · ATO, First Home Super Saver Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.