How Much Can I Borrow?
Use this calculator to answer the most important question - how much you can afford to borrow.
Choosing a home loan means making a lot of important, and sometimes detailed, decisions. Having as much information on hand as you can, can certainly help. At Mortgage House we can help you out, with a series of tools and resources to help you choose from the mortgages on offer. Mortgage calculators are just one of the tools that can make a big difference. With the right information, they can act as a clear guide, steering you towards the decisions that can make your property dreams come true. Mortgage calculators can help you select from a specific range of mortgages, and help you narrow down the field. But, make sure the information you put into mortgage calculators is as correct as it can be, and remember, they are there to act as a guide. Also, if our mortgage calculators don’t give you the good news you are looking for, and your numbers fall short, don’t despair. Contact us and we can use our experience to go the extra mile for you.
Finding out how much repayments may be on the mortgages you are trying to choose between can be one of the biggest influences on whether or not you go ahead with an offer. Therefore, it’s important our mortgage calculators are flexible, easy to use and easy to understand. Repayment calculators will give you an indication about how much repayments of specific mortgages can be. You can enter the size of the loan, the interest rate, the loan period, and even whether the interest rate is an introductory offer or not. A handy graph will show you how much interest you will pay, and when, and an overall monthly, fortnightly or weekly repayment figure. The other great thing about our mortgage calculators, especially our repayment calculator, is that they can show you what the overall costs of any mortgages may be. In other words, how much you might pay overall. You can use our repayment calculator to factor in any interest rate increases, to see whether the repayments are something you can fit into your budget if they rise.
Finding a suitable rate for a home loan is never easy. With so many mortgages to choose from, you can sometimes feel like you are drowning in a sea of information. Luckily, our mortgage calculators can help you keep afloat. Our Best Rate Mortgage Calculator allows you to compare what is on offer, all with a couple of clicks. Enter the price of the property you want to buy, how much you want to borrow, whether you want a fixed or variable rate, and whether you have all the documentation you need. Then, voila! Below appears a range of loans that can fit your criteria. You will also find a handy repayment table next to them, as well as the comparison rate, which can give you a better understanding of the true cost of a loan, once all the fees and charges are added in. We also offer mortgage calculators that can help you if you are switching mortgages. This tool can highlight the savings you can make by switching to other mortgages. There is also a calculator to help you calculate stamp duty. All these tools can make a big difference when choosing from the range of mortgages on offer.
Our mortgage calculators can give you a good indication of what your repayments may be for individual mortgages, but how much is a safe amount to pay for you? Firstly, look at fortnightly payments as an option. Over the life of the loan you can save thousands, and possibly cut your repayment time by years, by paying fortnightly instead of monthly. When it comes to finding a suitable level of repayments, the first step is knowing your budget. We have a calculator to help you there, as well. A typical rule of thumb is to ensure that your mortgage expenses don’t exceed more than one quarter of your gross income. Given the other expenses of owning a home, any more can leave you too little money for all of life’s other things. At the end of the day, it is always important to get professional budget advice before you go looking for your dream house.
Information can be king when it comes to choosing mortgages, and our borrowing mortgage calculator can help give you all the information you need to get started. As the name suggests, this mortgage calculator can give you an indication of how much you might be able to borrow, based on your income and expenses. But remember, it is only a guide, and there can be a lot of other factors that go into lenders such as Mortgage House offering you a range of mortgages to choose from. Use it alongside our budgeting calculator to paint as accurate a picture as you can. Then give us a call and we can talk you through the next steps.