Mortgage Calculators Sydney

How does a mortgage calculator work?

A mortgage calculator in Sydney offers prospective or current homeowners a range of information about future loans such as fees and charges, principal and interest payments, total interest paid on the loan and stamp duty. With so much information available, if you’re considering a home loan, a mortgage calculator can be the perfect place to start. Mortgage House’s range of mortgage calculators in Sydney include:

  • Mortgage Repayment Calculator. A mortgage repayment calculator can tell you what your repayments may be, depending on your interest rate, loan amount and loan period.
  • Borrowing Power Calculator. A mortgage calculator like this one works by taking your income and expenditure information and giving you an indication of how much a bank or lender might lend you. It will take into account your financial situation.
  • Switching Mortgage Calculator. No matter your financial situation, a mortgage calculator such as this one can help you give your home loan a health check. You may be able to save money or take advantage of features your current home loan doesn’t have.
  • Best Rate Mortgage Calculator. Mortgage House has a mortgage calculator in Sydney that helps rank our home loans by interest rate and gives you easy-to see information about fees and charges and mortgage repayments.
  • Stamp Duty Calculator. Stamp duty is a state government tax, and how much you pay can depend on where you live and what kind of home you are buying. This information can be difficult to find, which is why a mortgage calculator like this one can help.
  • Budget Planner Calculator. Before you start looking for a home loan, this mortgage calculator in Sydney can help you get a clearer picture of your total financial situation.

How to calculate what mortgage you can afford in Sydney?

A mortgage calculator in Sydney is one resource that can help you discover what loan amount you may be able to afford, especially in one of the most dynamic property markets in the world. Finding a suitable home loan can be about more than just the right interest rate. Using a mortgage repayment calculator to calculate the principal and interest amounts, and your weekly, fortnightly or monthly repayments can help you make your decision. But before you do that, it can pay to take a look at your budget. Mortgage House has a mortgage calculator for Sydney home buyers to help them do just that. Our Budget Planning Calculator below can help give you a clearer picture of your financial situation, in an easy-to-understand way. All you need to do is enter the required information as accurately as you can, and you’ll be presented with some figures that can help you on your way to your property goals. This information can help you understand how much money you might have available at the end of each month for a mortgage repayment, which can help you adjust the loan amount you are thinking of applying for.

Make adjustments to the Budget Planning Calculator, such as cutting out bought lunches during the week, or reducing your credit card spending, and see how that affects your monthly figures. You might be surprised.

Best Interest Rate 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?

Fixed

Variable

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.

One way to help understand how much mortgage you may be able to afford is by working out what kind of interest rate may be right for you. Choose the right one and you may be able to save money on your monthly repayment. There are two kinds of interest rates in Australia:

  • Variable. When you choose variable interest rates with your home loan, your interest rates may increase or decrease over the life of the loan. There can be a range of variables that can influence this, such as the official Reserve Bank cash rate, the health of the national or international economy or the cost to the bank or lender of providing you with the home loan.
  • Fixed. A fixed rate loan means your monthly repayments will be made up of interest rates that are fixed for an agreed time, usually between 1 and 5 years. These interest rates can be higher than standard variable rates, but you are making a call about whether the variable rate will rise of fall over your fixed agreed period. Fixed rates can help you with your budgeting, as you know exactly what your repayments will be over the agreed period.

A good mortgage calculator in Sydney will include a button so you can choose between variable and fixed, as well as a space to include the interest rates of your preferred home loans.

Can I get a mortgage five times my salary?

Everyone’s financial situation is different, which is why it always pays to seek financial advice before applying for a home loan, or a loan of any kind. But the great news is that before you apply for a home loan today, you can use a mortgage calculator in Sydney to work out your borrowing power, which is how much you may be able to borrow. While a Borrowing Calculator such as the one below is not pre-approval or conditional approval, it can give you an indication of what you might be able to borrow. This mortgage calculator will weigh up your income and expenses, how many dependents you have and whether or not you are making a joint application with a partner or spouse. Enter the interest rate of the home loan you are looking to apply for, as well as the loan period, and you’ll be presented with your borrowing power as well as what your monthly repayments may be.

Borrowing Calculator

Loan Details

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
years
Will the loan be for yourself or joint with another applicant?

Yes

No

Any person who depends on you for financial support e.g. your children?

Annual Net Income

Your net income per year i.e. after tax
$
Your partner's net income per year i.e. after tax
$
Any other income you may receive each year e.g. rent from a property, interest on savings or dividends from shares
$

Monthly Expenses

Personal monthly expenses e.g. rent, bills, shopping, fuel etc.
$
Any repayments you have to make each month to cover your credit cards or other loans
$
Any other monthly expenses
$

Your Monthly Repayment

per month

You Can Borrow Up To

Important Disclaimer: This is intended as a guide only. 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. The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable.

WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. * This mortgage calculator shows indicative repayments based on 12/26/52 equal repayments for monthly/fortnightly/weekly options.

How to calculate monthly repayments on a mortgage in Sydney?

For most people, the main consideration for whether or not a home loan is suitable for them is what the interest rates and monthly repayments will be. One of the great things about applying for a modern home loan is that information can be very easy to find, and it’s available to anybody for free. A mortgage calculator in Sydney that can give you this information is our Mortgage Repayment Calculator. Once you have used our Best Rate Mortgage Calculator to discover a home loan that may be suitable, all you need to do is enter the relevant information in the right spots such as the loan amount, interest rate, loan period and whether or not it includes an introductory rate. From there, our mortgage calculator will present you with details of the weekly, fortnightly and monthly repayments, as well as how much total interest you are likely to pay across the overall loan period. You’ll also be presented with an easy-to-understand graph that shows you the makeup of your monthly repayments. You’ll notice that earlier on most standard home loan repayments will be made up of more interest than the principal amount, and the further the loan period goes the less interest you pay. That’s one way the banks and lenders can manage risk.

Mortgage Repayment Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
years
How much do you want to borrow?
$

Your Repayments

  • Weekly
  • Fortnightly
  • Monthly

$1,798.65 per month

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.

Another button on the mortgage repayment calculator you will be asked to choose from is loan types. These loan types are:

  • Principal and Interest. With these home loan repayments, you are paying back both the principal amount and the set interest repayments. This is the most common type of loan among home buyers.
  • Interest-Only. These home loan repayments mean you only pay back the interest amount, over an agreed period of between 1 and 10 years. While your repayments pay be less in comparison, it can take longer to pay back the overall loan amount when the interest-only period ends. These types of home loans are popular with investors who look to sell their property before the interest-only period ends.

How to calculate mortgage payoff amount in Sydney?

The above mortgage calculator in Sydney can also be adjustable to let you know how much you have left to pay on your home loan. If you change the loan period and the loan amount, based on what you have already paid, you can get a good indication of how the rest of your loan period can pan out. On top that off, most Mortgage House loans have a range of special features that can help you pay off your home loan sooner and possibly save you thousands of dollars. They include:

  • Additional Repayments. This feature means you won’t be penalised for making additional repayments whenever you want. This can make a big difference to how much you end up paying over the life of the loan. Additional repayments help you pay your home loan off sooner, which means you can pay less interest.
  • Redraw. If you’d like the ability to make additional repayments but aren’t sure whether or not you’ll be able to afford to do that at regular intervals, Redraw may be the perfect feature for you. It allows you to withdraw, at any time, any additional repayments or lump sum payments you have made over the loan period. You can withdraw the money for any reason you wish.
  • Offset Account. An Offset Account is a great way to save money from the very start. If you have money available in a non-interest-bearing bank account, you can offset it against your mortgage. What that means is interest will be calculated on the difference between the two accounts, rather than just the mortgage itself.