Mortgage calculator

Estimated time: 10 mins

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This calculator helps you work out:

  • How much you can afford to borrow
  • What your repayments will be
  • Time and dollar savings of increasing your repayments
 

About this calculator - disclaimer & assumptions

Disclaimer

  • This is a model, not a prediction. Amounts and repayment periods are estimates only, actual amounts may be higher or lower.
  • Results are based on information you have provided and do not take your personal circumstances into account.
  • It applies to loans where your regular repayment includes both interest and the gradual repayment of the amount borrowed.
  • Initial inputs will be displayed on the left hand side of the graph. Your 'What if' scenario (if applicable) will be displayed on the right hand side of the graph.
  • It is not intended to be your sole source of information when making a financial decision. You may wish to consider getting advice from a licensed finance professional.
  • Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender's lending criteria.

Assumptions

  • Interest rates do not change for the life of the loan.
  • Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly, monthly quarterly or annually.
  • It does not take into account up-front fees such as loan establishment fees.
  • It does not consider your ability to make the repayments shown. To help you consider the impact of interest rates changes, we suggest exploring the impact of a 2% interest rate rise. Interest rates could rise in future by more than 2%.
  • Affordable repayments cannot be less than the fees entered.

Mortgage calculator FAQs - frequently asked questions

Q: How can I see the effect of a lump sum payment on the length of my loan?

A: Enter your current loan details on the 'How can I repay my loan sooner?' tab. Then reduce the amount owing by the lump sum amount.

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Last updated: 25 Feb 2014

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