Home Loan Calculators

To use the mortgage repayment calculator, you’ll need to input some basic information:

1. Loan Amount: The total amount you intend to borrow.
2. Interest Rate: The annual interest rate on the loan. It could be the advertised rate of your prospective lender or a rate you consider likely.
3. Loan Term: The length of time over which you intend to repay the loan, usually up to 30 years.

After inputting these details, the calculator will compute your estimated monthly repayments. Remember, this is an estimate, and actual amounts may vary based on additional factors like fees.

The home loan comparison calculator requires inputting the details of two or more loans. Information needed typically includes the loan amount, interest rate, loan term, and any fees associated with the loan.

Once you input this information, the calculator will show the total cost of each loan over its lifetime, as well as the monthly repayment amount. The total cost includes the principal (the original loan amount), the total interest paid over the life of the loan, and any associated fees.

This allows you to see at a glance which loan could potentially be more cost-effective over the long term. Be aware, however, that the lowest-cost loan isn’t always the best fit for everyone. Other factors like loan features, flexibility, and lender customer service should also be taken into account when choosing a home loan.

An offset calculator shows you how much you can save on interest and reduce your loan term by using an offset account. An offset account is a savings or transaction account linked to your home loan, where the balance is offset daily against your loan amount, reducing the interest you pay.

To use the offset calculator, you will need to input the details of your loan amount, interest rate, loan term, and the amount you intend to keep in the offset account. The calculator will then show you how much you can save in interest payments and how much sooner you could pay off your loan. Keep in mind, these results are estimates and the actual savings may vary.

The refinancing calculator helps you assess the potential benefits of switching to a new loan. You need to enter the details of your current loan (outstanding balance, current interest rate, remaining term) and compare it against a new loan (proposed interest rate, term, and any associated fees).

The calculator will show you the potential monthly repayment differences and how much you could save (or not) over the remaining term of your loan if you were to refinance. It’s a valuable tool for determining whether refinancing could be financially beneficial.

The extra repayment calculator shows you how much time and interest you can save by making additional repayments on your home loan. By entering your loan amount, interest rate, loan term, and the amount and frequency of extra repayments, the calculator will estimate how much sooner you could be mortgage-free and how much you might save in interest.

This can be a powerful motivator for making extra repayments, as even small, regular additional payments can significantly reduce the total interest paid and the loan term. However, keep in mind that some loans may charge a fee for making extra repayments, especially fixed-rate loans.

A Borrowing Power Calculator gives an estimate of how much you might be able to borrow based on your income, expenses, and chosen loan details. After inputting your income, expenses, number of dependents, and loan details (interest rate and loan term), the calculator provides an estimate of your borrowing power. It’s essential to note that this is a guide only – lenders have different criteria, and your actual borrowing capacity may be higher or lower.

The Loan Term Calculator helps you determine how long it will take to pay off your loan based on your repayment amount and frequency. Input your loan amount, interest rate, and desired repayment amount to see an estimated loan term. It can be an eye-opening tool to see how increasing repayments can significantly shorten the life of your loan and reduce the total interest paid.

The Lenders Mortgage Insurance (LMI) Calculator provides an estimate of the potential LMI premium payable if your deposit is less than 20% of the property’s value. Enter your loan amount and the property value, and the calculator will estimate your LMI. Remember, LMI protects the lender, not the borrower, in case you default on the loan.

The Stamp Duty Calculator can help you estimate the amount of stamp duty you’ll need to pay when purchasing a property. Stamp duty varies between states and territories in Australia and is typically based on property value. The calculator will ask for your property value, location, and whether it’s your first home or an investment. It then calculates an approximate amount of stamp duty payable. Knowing this cost is crucial in budgeting for a property purchase