Could you borrow enough to buy a home at the scheme's maximum price?

Based on an owner-occupier on an average wage who wanted to buy a home using the First Home Guarantee scheme, which allows a 5 per cent deposit.

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Average wage based on the ABS average full time ordinary time earnings wage for each state. Assumes a 30-year home loan at 5.5 per cent, and that borrowers have no existing debts, minimal expenses and no dependents. Borrowers should seek personal financial advice before deciding how much to borrow and know the actual amount will vary depending on their personal circumstances and between lenders.

Source: Canstar.com.au