<title>Loan Repayment Calculator - How Much Can You Afford Each Month? | Mortgage Broker Australia</title>Loan Repayment Calculator - How Much Can You Afford Each Month? | Mortgage Broker Australia

Loan Repayment Calculator

Disclaimer: The results from this calculator should be used as a guide only. Results do not represent either quotes or pre-qualifications for a loan.




Loan amount:
Interest rate: %
Loan term: Years

What will your loan repayments be?

Woman calculating her loan repaymentsThis calculator can be used to determine the approximate size of your repayments depending upon;

  • The loan amount
  • The loan term
  • The repayment frequency
  • The interest rate

You can work out what your repayments would be if you purchased a property today. It makes more financial sense to make sure that you can afford up to a 2% increase in the mortgage rate, as it is liable to change. This also leaves money spare for unforeseen circumstances.

You can enquire online if you would like a personalised assessment of your loan repayments.

What rates should you use in the calculator?

You should try t use the current bank standard variable rate (BSVR) used by each of the banks. Take this rate then take 0.7% off that rate. This is only a guide of course. It is also possible that here at Mortgage Broker Australia we will be able to get you a better rate than this.

What term should I use?

In Australia most mortgages are 30 years. If a bank or lender deems you a low enough risk you may be eligible for a smaller term such as 20 years, however your repayments will grow accordingly. 40 years is the maximum term offered in Australia

You can use our other loan calculators for a more complete picture of your current situation.

Prepare for your application today!

We can help you develop a strategy to minimize your repayments and if needed we can also help you pay off the loan as quickly as possible. Our mortgage brokers are here to help you find a loan that suits your needs. You can enquire online for more information.