Richmond Home Loans — VIC

Deposit Requirements — Richmond

Based on a median house price of $1,100,000 in Richmond, VIC.

Deposit scenarios for Richmond
Deposit Level Deposit Required LMI Estimate LMI Payable?
20% Deposit $220,000 $0 No LMI
10% Deposit $110,000 $17,820 LMI Applies
5% Deposit $55,000 $39,710 High LMI

LMI estimates are indicative only. Actual premiums depend on lender, insurer, and your borrower profile. Not financial advice.

First Home Buyer Incentives — Victoria

Stamp Duty Exemption Threshold $600,000 Properties at or below this value may attract zero stamp duty for eligible FHBs.
Estimated Stamp Duty $61,770 Calculated on $1,100,000 median price.
First Home Owner Grant (FHOG) $10,000 Available for eligible new home purchases in VIC. Conditions apply.
FHSS Scheme Property Cap $800,000 Maximum property value to access super savings via the FHSS scheme.

Stamp duty thresholds and grants are updated periodically. Verify current rates with Victoria Revenue Office or a licensed broker. Not financial advice.

Home Loan Market Context — Richmond, 3121

Richmond is located within the Victoria council area of Victoria. The median house price of $1,100,000 sits 16% above the VIC state median of $950,000.

Buyers purchasing at the median with a 20% deposit would require a loan of approximately $880,000, with estimated monthly repayments of $5,418 at an indicative rate of 6.25% p.a. over 30 years.