On a combined household income of $100,000, most lenders will approve a joint home loan in the range of $450,000 to $540,000, depending on your combined expenses, debts, and the lender. With low debts, some couples may qualify for up to $580,000.
Estimated Borrowing Power — Joint $100,000
| Combined income split | Estimated borrowing power | Monthly repayment at 6% |
|---|---|---|
| $50k + $50k, low expenses | ~$510,000–$570,000 | ~$3,060–$3,420 |
| $60k + $40k, moderate expenses | ~$460,000–$530,000 | ~$2,760–$3,180 |
| $70k + $30k, moderate expenses | ~$430,000–$500,000 | ~$2,580–$3,000 |
| Combined, with credit card debt | ~$390,000–$450,000 | ~$2,340–$2,700 |
Based on 30-year P&I loan at 6.00% p.a., assessed at 9.00% (APRA buffer). Use our borrowing power calculator for a personalised estimate.
Why Joint Applications Work
When two borrowers apply for a mortgage together, lenders assess the combined gross income against combined living expenses. This is not simply double a single income assessment — couples are assessed on joint HEM (Household Expenditure Measure) benchmarks, which are higher than single-person HEM but not double.
Example: A single person earning $50,000 may have HEM assessed at $2,200/month. A couple with a combined $100,000 may have HEM assessed at $3,000–$3,400/month — not $4,400. This is why joint borrowing power is typically higher per dollar of income than single borrowing.
Expense and Dependant Impact
Living costs and dependants significantly affect joint borrowing power:
| Household type | Approx. HEM (metro, monthly) | Effect on borrowing |
|---|---|---|
| Couple, no dependants | ~$3,000–$3,400 | Higher capacity |
| Couple, 1 child | ~$3,600–$4,100 | Reduced by ~$60,000–$80,000 |
| Couple, 2 children | ~$4,200–$4,800 | Reduced by ~$120,000–$150,000 |
HECS debts on either borrower also reduce borrowing power. At $50,000 each, the HECS repayment rate is 1.0% each ($500/year = $42/month each) — minimal but still counted.
Repayment Estimates
| Loan amount | Monthly repayment (6%, 30yr) | Fortnightly | % of $100,000 gross |
|---|---|---|---|
| $350,000 | $2,098 | $968 | 25% |
| $400,000 | $2,398 | $1,107 | 29% |
| $450,000 | $2,698 | $1,245 | 32% |
| $500,000 | $2,998 | $1,384 | 36% |
At 30% of gross household income ($2,500/month), the loan size supported is approximately $415,000 at 6% over 30 years. Most couples stretch slightly above 30%, particularly if only one partner’s income may be interrupted (e.g., parental leave).
Deposit Requirements
| Purchase price | 10% deposit | Stamp duty (NSW est.) | Total needed |
|---|---|---|---|
| $450,000 | $45,000 | ~$15,805 | ~$65,000 |
| $500,000 | $50,000 | ~$17,990 | ~$72,000 |
| $550,000 | $55,000 | ~$19,800 | ~$79,000 |
The First Home Guarantee is available to joint first home buyers with a combined income up to $200,000. At $100,000 combined, you qualify — meaning you can buy with 5% deposit and no LMI. See our First Home Guarantee guide.
Joint FHOG eligibility: Both applicants must be first home buyers in most states for the First Home Owner Grant to apply. Check your state’s eligibility rules.
What Can $100,000 Combined Buy?
With estimated borrowing power of $460,000–$540,000 and a 10% deposit, realistic purchase prices are $510,000–$595,000.
| Market | What’s achievable |
|---|---|
| Regional Australia | House in most regional cities and towns |
| Perth outer suburbs | Established houses in many areas |
| Adelaide | Good range of properties in outer suburbs |
| Brisbane growth corridors | Houses in outer suburbs, units elsewhere |
| Melbourne | Unit or townhouse in outer suburbs |
| Sydney | Very limited; mostly apartments in western suburbs |
Planning for One Income Temporarily
Many couples on $100,000 combined will face periods where one partner’s income is reduced — particularly due to parental leave. When planning your borrowing, it’s worth stress-testing whether the loan is serviceable on the higher income alone for a period.
- If the higher-income partner earns $70,000 and the lower earns $30,000, test servicing the loan on $70,000
- Many lenders offer repayment pauses or hardship provisions for parental leave
- Consider an offset account to build a buffer in advance
FAQ
Can a couple on $100,000 combined get a home loan?
Yes. A combined $100,000 supports a joint home loan of approximately $450,000–$540,000. With the First Home Guarantee (5% deposit, no LMI), a couple at this income level can buy a property in the $480,000–$570,000 range with relatively modest savings.
Does both income count for a joint home loan?
Both incomes are included in the assessment provided both borrowers are named on the loan application. This typically means both are jointly and severally liable for the debt. It’s worth discussing the structure (joint tenants vs tenants in common) with a solicitor.
Borrowing power estimates are indicative only. For advice tailored to your situation, speak with a licensed mortgage broker. Find one through MoneySmart.