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Borrowing power

Links Property Finance · Home loans for first home buyers: How Much Can I Borrow on $200k?

A single applicant on $200,000 with no debts reaches about $920,000 on our calculator assumptions. Above $190,000 each extra dollar is taxed at 45 cents, so from here the figure grows slowly and lender policy on large loans matters more than the salary.

Reviewed by Charles Touma Updated 18 October 2026

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How much can you borrow on $200,000 a year?

At $200,000 the tax office takes about $56,000, so roughly $11,680 a month reaches the account. After a lender’s living benchmark that leaves a surplus near $8,700, and 85 per cent of it is counted.

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At the example rate plus the 3 per cent buffer that services about $920,000.

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What changes the figure at this income is rarely the salary: it is children and school fees, a novated lease, an investment property that costs more than it earns, and the lender’s own cap on loans above $1 million.

Part of the first home buyer loans guide.

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Your own figure on $200,000

How much could you borrow?

$200,000
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.

$920,000

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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What does the worked example show for $200,000, single, no debts?

From salary to loan figure on our calculator assumptions.

Gross income$200,000. Salary before tax.
Tax and Medicare levyAbout $59,900. Resident rates, 45% above $190,000.
Net income per monthAbout $11,680. After tax.
Living expenses allowedAbout $2,970. Single adult benchmark, scaled to income.
Surplus for repaymentsAbout $7,400. 85% of what is left.
Assessment rate9%. 6% example rate plus the 3% buffer.
Borrowing powerAbout $920,000. Serviced by $7,400 a month at 9% over 30 years.
Repayment at 6%About $5,520 a month. The actual repayment at the example rate.

Illustration only. Lenders differ on expense benchmarks, bonus treatment and maximum loan sizes.

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What moves the $920,000?

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  • A couple on $200,000 combined borrows slightly less than a single.About $900,000 for two applicants on $100,000 each, because two adults carry a higher living benchmark even though each income is taxed more lightly.
  • Two children take about $100,000 off.The dependant allowance on two children brings a single $200,000 earner to about $820,000. Private school fees are counted on top.
  • A $1,000 a month commitment costs about $105,000.A car lease, a personal loan or an investment loan shortfall of $1,000 a month brings the figure to about $815,000.
  • Bonus policy is worth more here than anywhere.A $50,000 bonus counted at 100 per cent rather than 80 per cent is $10,000 of assessed income, which on these assumptions is close to $40,000 of borrowing.
  • The lender’s loan cap decides the deposit.Many lenders reduce the maximum loan-to-value ratio above $1 million. A $920,000 loan on a $1.05 million purchase passes with most; a $1.4 million loan may need 20 per cent down.
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How do you get from the loan to the purchase price?

With a 10 per cent deposit, $920,000 of borrowing supports a purchase near $1.02 million; with 20 per cent, about $1.15 million. That is a house in most of the middle ring and a large apartment or a terrace closer in.

Stamp duty on a $1.15 million purchase is more than $45,000 in NSW and is paid in cash at settlement, because a first home buyer concession ends at $1 million.

The 5% Deposit Scheme still applies to an eligible first home buyer up to $1.5 million in Sydney, and at this income the scheme is often the difference between buying now and saving another year for a 20 per cent deposit.

The stamp duty calculator and the large home loans guide cover the costs and the policies above $1 million.

How do three $200,000 scenarios compare?

Same salary, different outcomes on our assumptions.

  • Single, no debtsAbout $920,000. A middle-ring house with 20 per cent down.
  • Single, two children at private schoolsBelow $820,000 once the dependant allowance and fees are counted.
  • Single, $50,000 bonus counted in fullAbout $1.12 million at a lender that takes the full bonus, which is why lender choice is the first decision.

Common questions about borrowing on $200,000

What does an upgrade look like on $200,000 a year?

An illustrative single buyer on $200,000 with no debts can borrow about $920,000 on our calculator assumptions. They sell a two-bedroom apartment, net $355,000 after the agent’s fee and the old loan, and buy a four-bedroom house for $1,200,000.

Having owned before, they pay standard transfer duty: $48,187 at $1.2 million. Putting $300,000 toward the price and keeping the rest for duty and costs leaves a $900,000 loan at 75 per cent of the price, with no lenders mortgage insurance. If the purchase settles before the sale, a bridging loan covers the gap.

The $900,000 loan costs about $5,400 a month, and the lender tests it at about $7,240. 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 $200k?

About $920,000 as a single applicant with no debts on our calculator assumptions. Bonus policy, dependants, school fees and commitments move it more than the salary does at this level.

Why is borrowing on $200,000 not double $100,000?

Tax. Income above $135,000 is taxed at 37 cents and above $190,000 at 45 cents, so the net income grows more slowly than the gross. A $100,000 earner borrows about $425,000; a $200,000 earner about $920,000.

Can I borrow $1 million on $200,000?

Yes with a bonus counted in full, rental income from a property you keep, or a partner’s income. As a single salaried applicant with no other income it lands just under on our assumptions.

Do lenders cap loans over $1 million?

Many do: they reduce the maximum loan-to-value ratio above $1 million or $1.5 million, require a second valuation, or both, so the deposit needed rises.

How much can a couple on $200,000 combined borrow?

About $900,000 with no debts and no children, slightly less than a single applicant on the same income because the living benchmark for two adults is higher.

Is a novated lease a problem at this income?

Yes: it reduces the taxable income a lender uses and counts as a commitment, so it costs borrowing power twice; ending the lease before applying can add $80,000 or more.

The borrowing power calculator takes bonus, rent and commitments; the large home loans guide covers lender policy above $1 million.

Get a straight answer for your situation

Charles runs your income, bonus, rent and commitments through the lenders that lend at this size without a larger deposit. 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 · Large home loans · 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: Housing Australia, 5% Deposit Scheme · Revenue NSW, First Home Buyers Assistance Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.