Calculators
Mortgage calculators
Run the numbers in a few minutes. These calculators give you a starting point. Peter can then tell you what they mean for your situation and what lenders are likely to approve.
Results are estimates based on the figures you enter and the example rate shown. They aren't a quote, an offer of credit or a guide to what a lender will approve.
Repayments
- Mortgage repayment calculator See what your repayments could be weekly, fortnightly or monthly, based on your loan amount, rate and term.
- Interest-only repayment calculator Compare interest-only and principal and interest repayments, and see how repayments change when the interest-only period ends.
- Extra repayments calculator See how paying a little more each period could reduce the interest you pay and the time it takes to own your home.
- Offset account calculator Estimate how much interest money in an offset account could save you over the life of your loan.
Comparing loans
- Refinance calculator Compare your current loan with a new rate, including switching costs, to see whether refinancing could be worth looking into.
- Split loan calculator See how splitting your loan between fixed and variable could affect your repayments.
- Comparison rate calculator See the true cost of a loan once fees are included, so you can compare like with like.
Buying and borrowing
- Borrowing power calculator for doctors Get a rough idea of what you may be able to borrow as a medical professional. Lender policies on overtime, locum income and LMI vary, so talk to Peter for a proper assessment.
- Buying costs calculator Estimate stamp duty, fees and other upfront costs so you know how much cash you'll need on top of your deposit.
Definitions and caveats
Principal and interest. Each scheduled repayment covers the interest charged for the period and reduces the loan balance. Interest only. Scheduled payments cover interest only for a set period; principal is repaid later at a higher repayment. Offset. An eligible linked balance reduces the balance on which interest is calculated. It is not redraw. LVR. Loan amount divided by the lender's accepted property value.
All calculators here use the nominal annual rate divided by the number of repayments per year (12, 26 or 52). Lenders may calculate interest daily or apply different conventions, so your actual repayments can differ. None of these tools uses live lender rates, government duty tables or a statutory comparison-rate formula.
Calculations are estimates for general information only. They do not constitute a loan offer, credit approval or personalised financial advice. Actual repayments, fees, eligibility and savings depend on your lender, loan contract and circumstances. Speak with a qualified professional before making a decision.
Want to know what this means for you?
Your calculation is a starting point. Book a free chat and Peter can tell you what the numbers mean for your situation.
Or call 0401 272 268 · peter@mtmb.com.au