What home loan calculators exist to make life easier?

A home loan calculator can help you quickly estimate mortgage repayments, so you can work out if you can afford the loan on your household budget. But there are other online calculators available that could help you plan your household budget before applying for a mortgage.

Some of the calculators available on RateCity include:

Home Loan Repayment Calculator

By entering a few details about a mortgage, you can quickly estimate the cost of loan repayments to work out how much you may pay on your mortgage. You can then compare the calculator results to other home loan deals, to find alternative offers that may suit your financial situation and personal goals. 

Borrowing Power Calculator

Essentially a repayment calculator in reverse, this tool allows you to enter the repayments you’d like to make on a home loan and use this information to estimate the maximum loan size you may be able to afford.

How Much Can I Borrow? Calculator

It’s one thing to know how much you’d like to borrow, but it’s another to estimate how much a bank may be willing to lend you based on your income and expenses. Much like some mortgage lenders, this tool factors income buffers and floor rates into its calculations when working out your loan serviceability, so you can get a closer idea of your potential maximum home loan.

Home Loan Switch And Save Calculator

One common reason to consider refinance a home loan is to switch to a lower interest rate and enjoy cheaper repayments. This calculator can help you quickly work out how much you may be able to save in interest charges by switching to an alternative lender.

Stamp Duty Calculator

When buying a property, stamp duty can make a significant impact on your upfront costs. Estimate how much you may pay for stamp duty when buying a home or investment property in Australia’s different states and territories, so you can plan your budget accordingly.

Refinance Calculator

There’s more than one reason to consider refinancing a mortgage, so you may want a calculator with more than one function. This tool can help you see how refinancing your mortgage could help you pay less interest, pay off your property faster, or access your equity.

Lender Mortgage Insurance (LMI) Calculator

Sometimes the cost of Lender’s Mortgage Insurance (LMI) can affect the value of a low-deposit home loan. Estimate how much you may be charged for LMI to work out the best home loan option to suit your finances.

Mortgage Stress Calculator

Concerned about the effect that mortgage repayments could have on your household budget? Simply enter your income and repayments to quickly get an idea of how concerned you may need to be about financial stress.

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