Borrowing Power Calculator
Your details
Calculator assumptions
Your estimated interest savings is the difference in the total interest payable on your current outstanding loan amount (based on the information you enter) and the total interest that would be payable with the interest rate and repayment changes you enter.
Your estimated time savings is the difference between the remaining time left you indicate for your loan to be repaid and the time we calculate it will take to pay off the loan with the changes to loan term, interest rate, repayments and other contributions you enter.
Key assumptions
1. The loan is a principal & interest loan. The calculations do not work for a loan with interest only repayment type.
2. The interest rate entered remains unchanged for the remainder of the loan as it is not possible to predict future interest rate changes.
3. Any additional repayments and other contributions to the loan you specify are maintained for the life of the loan.
4. You do not redraw any amount from the loan during the life of the loan.
5. Repayments are made on a monthly basis.
6. The loan term remaining is the time you specify or when the balance of the loan is paid off due to the extra repayments and contributions you add, whichever is earlier.
7. The calculator does not take into account fees or charges or any special cash back offers.
Benchmark interest rates
If you don't know your current rate, we use the indicative average rate for all variable rate, principal and interest loans in Australia with the same loan purpose you indicate plus 0.75% p.a. using Economic and Financial Statistics data published by the Reserve Bank of Australia ("RBA"). The RBA calculates this rate by taking the average of the interes rates reported by each lender surveyed for loans outstanding, weighted
Your estimate
You could borrow up to
$0Assumes a 20% deposit on the home you buy- Which means you could afford a home up to
- $0
- Estimated repayments
- $0 / month
Think of this as a starting point. Pre-approval gives you a firm number before you make offers.
This intuitive borrowing power calculator provides a comprehensive estimate of your home loan potential, including your borrowing capacity, the value of a home you can comfortably afford with a 20% deposit, and the monthly repayments you would need to plan for. Input the following:
1. Number of applicants (solo or joint, e.g., with a spouse)
2. Each applicant's salary and any rental income
3. Estimated monthly living expenses
4. Total credit card limits and minimum monthly payments for existing debts (like car or personal loans, HECS/HELP)
5. Indicative loan interest rate, term, and preferred repayment frequency
To use this tool, input the desired loan amount, the loan's term, the interest rate, and your preferred repayment frequency. The calculator is configured to assume principal and interest repayments.
