Disclaimer: The results from this calculator should be used as a guide only. Results do not represent either quotes or pre-qualifications for a loan.
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What will your loan repayments be?
This calculator can be used to determine the approximate size of your repayments depending upon;
- The loan amount
- The loan term
- The repayment frequency
- The interest rate
You can work out what your repayments would be if you purchased a property today. It makes more financial sense to make sure that you can afford up to a 2% increase in the mortgage rate, as it is liable to change. This also leaves money spare for unforeseen circumstances.
You can enquire online if you would like a personalised assessment of your loan repayments.
What rates should you use in the calculator?
You should try t use the current bank standard variable rate (BSVR) used by each of the banks. Take this rate then take 0.7% off that rate. This is only a guide of course. It is also possible that here at Mortgage Broker Australia we will be able to get you a better rate than this.
What term should I use?
In Australia most mortgages are 30 years. If a bank or lender deems you a low enough risk you may be eligible for a smaller term such as 20 years, however your repayments will grow accordingly. 40 years is the maximum term offered in Australia
You can use our other loan calculators for a more complete picture of your current situation.
Prepare for your application today!
We can help you develop a strategy to minimize your repayments and if needed we can also help you pay off the loan as quickly as possible. Our mortgage brokers are here to help you find a loan that suits your needs. You can enquire online for more information.
