Work out where you stand.

Assumes the extra amount is paid every month from day one and the rate holds. Check your loan allows extra repayments without penalty — most variable loans do, many fixed loans cap them.

Interest is compounded monthly on the balance. Government schemes and guarantor options can cut the deposit you need — worth a conversation before you keep saving for another two years.

Transfer duty only — registration and mortgage fees, foreign buyer surcharges and vacant-land rules aren't included. Eligibility rules (residency, prior ownership, living in the home) apply to every concession. Treat this as a guide and check the final figure with your conveyancer or with me.

Australian resident rates including the low income tax offset and the 2% Medicare levy. It assumes salary or wages only, no salary packaging, no private health cover surcharge and no other deductions or offsets. Overtime, shift loading and second jobs change the picture — and lenders assess those differently again. General information only, not tax advice: your accountant or the ATO has the final word.

The ATO's interest charge compounds daily and its payment plans usually want the balance cleared inside about twelve months, which is what makes the monthly figure hurt. Refinancing spreads it over a loan term at a much lower rate — but it does move the debt onto your property and stretch it over longer, so the lifetime interest can be higher. That trade-off is the conversation. Deductibility of ATO interest is a question for your accountant. General information only.