Best Rate Mortgage Calculator

What is the price of the property that you want to buy?
How much do you want to borrow?
What type of loan do you require?

Full Doc: Home loan suitable for people who are able to provide full evidence of their income when applying for a loan.

Low Doc: Home loan suitable for the self employed or people who are unable to provide full financial documents when applying for a loan.

Full Documentation

Low Documentation

Do you want a fixed or variable rate loan?



Mortgage Deal Interest Rate Annual Fee Comparison Rate Repayments
Monthly Fortnightly Weekly

Important Disclaimer: This information is intended as a guide only. The calculation of fortnightly and weekly instalments varies with the specific loan product. Higher loan repayments will be required on principal and interest loans where the instalment calculation is based on half the monthly payment for a fortnightly payment or a quarter of the monthly payment for a weekly payment. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.

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How can the best rate mortgage calculator help my decision-making?

With so many different kinds of mortgages available today, finding one that is suitable for you and your property goals can be difficult. At Mortgage House, we want to give you the best tools and resources we can to help make your decision-making easier. Our best rate mortgage calculator is one of those resources. To start with, enter how much the estimated price of the property you want to buy is, and how much you want to borrow. Next, click whether or not you are after a full documentation or a low documentation loan. This will simply change the type of loans you can choose from. A low documentation loan is suitable if you are self-employed or if you are unable to provide full financial statements or other evidence of income when applying for a loan. Finally, click whether you are after a fixed rate or variable rate loan. We will then present you with a range of Mortgage House loan options that can suit your requirements.

Can I compare mortgage repayment amounts as well?

As well as listing a range of mortgage options that may be suitable for you, our best-rate mortgage calculator will also list the interest rates, comparison rates and repayment amounts of each loan. That will give you an easy way to compare the main details of each loan. Each bank or lender must compare the advertised main interest rate with a comparison rate. A comparison rate is designed to give you an indication, or a comparison, of what your effective interest rate would be with after including compulsory fees and charges. Remember, if you chose a variable rate loan, the interest rate can change, up or down, many times over the life of the loan. If you choose a fixed rate loan, the interest rate will be fixed for a set period, usually between 1 and 10 years. After that set time, you can either apply for another fixed loan, or your mortgage will revert to a standard variable rate. Our best-rate mortgage calculator also includes any annual fees that may come with a mortgage.

mortgage rate calculator

How can I find out what loan amount I can borrow?

Another of our resources that can help make your loan decisions clearer is our borrowing calculator. You can use it to find out how much you might be able to borrow. While it is only a guide, it can give you an indication of your borrowing power and can help make your property goals clearer. Make sure the information you enter is as accurate as you can make it. Once you have entered all the information, the calculator will give you a figure of how much you may be able to borrow. It will also give you an indication of how much monthly repayments for a loan of that size can be. If the calculation is what you need, or the estimation fell short, Mortgage House can help you take the next steps. A smart way to make sure you have the level of your expenses as accurate as they can be is to click on our budgeting calculator. This is a great way to see all your expenses and income laid out in one place. You may be surprised with the results.

Does Mortgage House have a repayments calculator?

Our mortgage repayments calculator is yet another tool that can give you even more information about all our loan options and how they can suit you. To find out how much your repayments can be, enter details about the size of the loan, the interest rate, the loan period, and whether you want an interest-only or a principal and interest loan. If the loan you are looking at has an introductory offer, check that box and fill in the details of the introductory rate and period. The key feature of our repayments calculator is that it can give you a breakdown of how much interest will make up your payments, and how much interest you will pay over the life of your loan. Again these figures are a guide only, but they can help you paint a pretty clear picture.

How often should I make my repayments?

Most of our calculators can give you a comparison between weekly, fortnightly and monthly repayments. Believe it or not, choosing between monthly or fortnightly and weekly can make a difference. In short, it can save you money and help you pay off your loan sooner. If your repayments are, for example, $2000 per month, you will pay $24,000 off your loan each year. If you pay $1000 per fortnight (half the monthly payment), you will pay $26,000 off each year – an extra month’s repayments. This can save a lot of money on interest repayments over the life of your loan.