A home loan calculator or mortage calculator helps you determine how much you can expect to borrow for a home based on your current salary and existing financial commitments. It also calculates your loan repayments.
Offset Mortgage Calculator
An Offset Loan can help you repay your loan sooner. See how much sooner here.
Basic Loan Repayments
A simple calculator that tells you how much you will pay periodically and in total.
Calculate the stamp duty payable using the State the property is located in, its' type and purchase price.
How Long to Repay?
Set the amount you'd like to pay per week or month and calculate how long it will take to pay off your loan.
Calculate the interest you will pay where you split your loan to include both a variable and fixed rate portion.
Calculate the time and interest you'll save making regular monthly repayments more than the minimum required.
P & I / Interest Only
Calculate the interest depending on whether you borrow on a principal and interest or interest only basis.
What Can I Afford to Borrow?
Shows what you can borrow based on interest rate, loan term and available funds.
Home Loan Calculators are widely used in Australia
Property buyers use this mortgage calculators to compare mortgage rates for both residential owner occupied loans and investment loans. These useful tools includes a simulator which can calculate your minimum weekly, fortnightly or monthly loan repayments and at the same time let you know how much time and interest you can save by paying more than your minimum repayment.
The mortgage calculator has many variables and allows you to select your nominated loan amount, interest rate, loan term and loan repayment type (interest only or principal and interest). The mortgage calculator can project your future interest costs and let you know how much you can save by paying a little extra each week. It illustrates the benefits of lump sum payments and/or small regular additional repayments. The longer the loan term the more interest you pay.
In Australia, residential investment home loans have some tax benefits. Many investors choose to pay “interest only” repayments as the interest component can be tax deductible. The home loan calculator highlights the differences between a “principal and interest” loan (reducing) and “interest only” loans. Mortgage calculators can assist you with managing your repayments.
Mortgage rates and products are continually changing in Australia and a mortgage calculator will enable you to budget and manage your cash flow accordingly.
Most Lenders in Australia, enable online access to their home loan calculators. You can enter unlimited loan scenarios and view the outcomes. In today’s mortgage market many homebuyers are seeking mortgages with split loan accounts. Whether you’re a first time home buyer or an investor, the mortgage calculator can assist you with managing multiple loan accounts. Your home loan may be part fixed and part variable. If variable rates rise, you can easily calculate your new loan repayment based on your new interest rate and remaining loan term.
Home buyers in Australia can also access other online useful tools. These include the Stamp Duty Calculator which enables you to find out how much the cost of stamp duty adds to the cost of buying a home in a particular state or territory.
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