Home Loan Calculator – Home Loans

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Home Loan Calculators

Apart from giving you a general idea on your borrowing capacity, home loan calculators can prove useful at various stages of your home loan – both before your application and during the life of your loan. Regularly utilising home loan calculators can help you determine:

What you can afford to buy, type of property
What your repayments will be
How to reduce your repayment costs

Free Home Loan Calculator Tools

While mortgage and home loan calculator tools are an easy way to find out the key numbers around your home loan, talking to a Loan Market home loans expert will give you a more accurate figure relating to your personal situation. For a free home loan assessment talk to an expert today on 13 94 62.

Home Loan Calculators

Mortgage Calculators

Home Loan Repayment Calculator

Please note, your borrowing capacity will vary from lender to lender depending on your circumstances, talk to a mortgage expert for a more accurate figure relating to your personal situation on 13 94 62.

Home Loan Calculator For Budgeting and Saving My Home Loan Deposit

Saving up for your home loan deposit will inevitably involve tightening your belt, but you also need to ensure that your savings goal is realistic and will not cause a financial strain on you and your family. The budget planner helps you work out which expenses you can comfortably afford to cut out and helps determine a realistic savings goal. The savings plan calculator takes things a step further by calculating how soon you will be able to achieve your savings goal if you using the interest rate on your current savings account.

Using Home Loan Calculators to Prepare My Home Loan Application

The first step in your home loan application will undoubtedly involve determining your borrowing capacity. The how much can I borrow calculator will give you a general idea of how much you can afford which is crucial in the house hunting process. Used in conjunction with the Where Can I Buy calculator, you will not only have an idea of your borrowing power but you will also get an idea of which suburbs you can afford to live in and hone in on these areas during your house hunt. It will also be worthwhile to determine what your repayments will be and factor in any potential rate rises to ensure that you can comfortably make them, the home loan repayments calculator will prove a particularly handy tool for this.

Managing Your Mortgage Using a Home Loan Calculator

Maximising on any opportunities that save you money on your home loan and shorten the life of your loan are some of the easiest ways of ensuring that you own your home sooner rather than later. Home Loan Calculators can come in handy when you are preparing your mortgage management schedule, particularly with regards to making extra repayments. The following calculators can be used to better manage your current home loan:

Extra Repayments Calculator

As your interest is calculated daily, any extra repayments you make, will save you money on interest payments. This calculator helps determine the amount of interest saved if you increase your home loan repayments.

Lump Sum Repayments Simulator

Making additional ad hoc payments that exceed your minimum repayments, could save you money spent on interest payments and shorten the life of your home loan. Find out how much time and interest can be saved by paying a lump sum off your loan.

Home Loan Comparison Calculator

Whether you are looking into refinancing or getting your first home loan, you will need to compare your current home loan to others in the market. The home loan comparison calculator allows you to select any two home loans in the market and determine which is the cheapest in total fees and interest over the life of the loan.

Principal and Interest Calculator

Your home loan repayments are made up of your principal (the amount you borrowed) and your interest (calculated daily using the amount you still owe). Since interest is calculated daily, paying off your principal faster reduces the amount of interest you have to pay – ultimately saving you money. Find out what portion of your monthly repayments goes towards paying off your principal and what portion are your interest payments.

Your borrowing capacity will vary from lender to lender depending on your circumstances. To have a more precise assessment of your borrowing capabilities, talk to a local mortgage broker or call us today on 13 94 62.

More information and home loan help

For more information on how and where to find a better home loan deal from an extensive panel of Australian banks and secure mortgage lenders, or to speak to your local area mortgage expert, contact us on 13 94 62 (direct +61 2 9249 3739)

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*Warning: Rates are subject to change without notice. Full terms and conditions and schedule of fees are set out in the lender's relevant loan contracts and comparison schedules. Government charges and taxes may apply. Honeymoon rates are classified as those that last for a minimum of 6 months and then revert to a higher rate. Fixed rates are for a two year term.