Loan Calculator

When you take out a mortgage, you'll need to decide how much you can afford to borrow. That involves working out how much cash you'll have left over after deducting your monthly expenses from your income. You'll also need to consider how higher interest rates would affect your home loan repayments. Using our loan calculator, you can see that even a small rise in interest rates would boost considerably the total interest you pay on your mortgage over the life of the loan. This is money coming out of your pocket, so it's wise to consider what you're monthly mortgage repayments would be assuming interest rates were 2 to 3 per cent higher than current levels. That way, you won't get caught out if rates rise.

The calculator accepts:
Price (mortgage amount in Australian Dollars)
Term of your mortgage
Percentage of Down Payment
Annual Interest Rate

Based on the four items that you enter, we can figure out the down payment, the amount that you need to finance, and the monthly finance payment. This calculator can also break down the monthly payments so you know how much goes towards the mortgage's interest and the mortgage's principal.