Make the numbers more meaningful.
Use these calculators to explore illustrative scenarios. Actual borrowing limits and repayments depend on lender assessment, interest rates, fees and your circumstances.
Loan repayment calculator.
Estimate principal-and-interest repayments using a constant interest rate, then explore how different assumptions change the result.
Estimate assumes a constant interest rate for the whole term, no fees, no offset account and repayments made at the selected frequency. Weekly and fortnightly periods are calculated using the annual nominal rate divided by payment periods. It excludes rate changes, insurance and other costs. Actual lender schedules may differ.
Illustrative borrowing budget.
This is a rough planning illustration, not an estimate of what any lender will approve. It uses your after-tax income, stated expenses and a simple safety margin. It does not model lender serviceability requirements.
Assumptions: 30% of income remaining after entered expenses and debt repayments is retained as a safety margin, leaving 70% available for illustrative mortgage payments; the illustrative rate is increased by 3 percentage points. This formula is not a lender credit policy. It excludes deposits, dependants, tax and rental complexities, credit limits, existing properties, living expense verification, LMI, fees, lender caps and lending-policy rules. Actual borrowing power may be substantially lower or higher.
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