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Yes, acknowledged above :)

Yes, the FHOG rate of Duty cuts out totally after $530k. And exempt up till $430k. Remind me not to forum late at night. ... ;)

Just re-looking into FHB in WA and it sure looks like you can own an IP prior to FHBG! Unless you owned it prior to 1st July 2000, then you luck out. Stamp duty is waived as long as your purchase cost is less than $530k.

Same in WA - if you buy IP first, no FHOG for you. If you want to take advantage of grants though, you could potentially buy the cheap house first and get the $3000k rather than $10k though, live in it for 6 months then convert to IP and buy PPOR. If you buy sub $400k there are other...

Realistically it's very difficult to get a 95% lend for an IP. There is only 1 lender on my panel who will look at it, and then you have to be pretty much perfect in every way. Based on your numbers and assuming WA purchase, you're not leaving anything for settlement etc. Postcodes...