What can I afford to borrow?

Calculate what you can afford to borrow based on your current financial situation.

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Our current interest rates

Lender Product Annual Interest
Rate % p.a.
Comparison
Rate % p.a.
Home Package Plus SP 1 Yr Fixed OO LVR > 80% <= 90% ($150k +) P&I (1 Year Fixed) 3.69% 4.88%
Home Package Plus SP 1 Yr Fixed OO LVR > 80% <= 90% ($150k +) Int Only (1 Year Fixed) 3.69% 4.96%
First Home Buyers Special 2 Year Choice Fixed Rate OO P&I (2 Year Fixed) 3.69% 5.38%
Premium Package Fixed Rate OO P&I Only (1 Year Fixed) 3.73% 4.78%
Home Package Plus Fixed OO LVR <= 80% ($150k +) P&I (3 Year Fixed) 3.79% 4.53%
Lender Product Annual Interest
Rate % p.a.
Comparison
Rate % p.a.
Basic Variable Rate OO LVR <= 70% ($150k +) P&I Only 3.64% 3.66%
Advance Variable OO LVR <= 90% P&I 3.65% 3.70%
Back to Basics SP Home Loan OO <= 90% P&I 3.68% 3.72%
Basic Variable Rate OO LVR <= 70% ($150k +) P&I Only 3.69% 3.71%
Orange Advantage OO LVR <= 80% (>=$500k <$1M) P&I 3.69% 3.99%
Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Our other calculators

How much can I borrow?

Calculate your borrowing power based on your salary and financial commitments.

Calculate borrowing power

Home loan repayments

Work out your minimum weekly, fortnightly or monthly home loan repayments.

Calculate repayments

Stamp duty

Find out the stamp duty payable on your property purchase in your state or territory.

Calculate stamp duty

Compare home loans

Compare loans from different lenders based on interest rates, loan terms, fees & more.

Compare loans

How long to repay?

Work out how long it will take you to repay your home loan.

Calculate how long to repay

LVR Calculator

Your Loan to Value Ratio (LVR) determines the amount a lender will loan to you.

Calculate LVR

Lump sum payments

How much time and interest can you save by paying a lump sum off your home loan?

Lump sum payments calculator

Split loan repayments

Calculate the potential impact of splitting your home loan into fixed and variable rate portions.

Calculate split loan repayments

Achieve savings target

See how much you need to save weekly, fortnightly or monthly to achieve your target.

Savings calculator

Remaining balance

Use this calculator to work out the remaining balance of your home loan.

Calculate remaining balance

Reverse Mortgage Calculator

Calculate your monthly repayments on a reverse mortgage.

Reverse Mortgage Calculator

Discuss what you could afford to borrow with a Mortgage Choice expert today.

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What can I really afford to borrow?

When you’re paying rent and trying to save simultaneously it can be challenging to figure out exactly how much you can borrow and what sort of home loan you are capable of servicing. This calculator can help assess your current expenditures and financial situation to determine what you can really afford.

This calculator will take into account your weekly rent, any surplus money you have on a weekly basis (this can include money you already save) and your discretionary spending (any money you spend on a weekly basis – food, entertainment, bills). By setting basic lmoroan conditions such as mortgage length, interest rate and frequency of repayments, you can calculate how much money you may be able to borrow and the repayments you’ll need to make. The results also allow you to populate the ‘deposit’ field depending on how much of deposit you wish to put down for you home loan. You can use the deposit amount calculated in our achieve your savings target calculator to work how long it will take you to reach your savings goal.

Meeting with a mortgage broker is a great way to be on the front foot when it comes to buying your home. Your expert broker can help to evaluate your personal situation, find out if you’re eligible for any incentives such as the First Home Owners Grant and calculate fees like stamp duty. Many factors come into play when looking to buy a property and at Mortgage Choice our aim is to guide you through the entire process with our expert knowledge.

Disclaimer:
The results from these calculators are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Borrowing Power:
The borrowing amount is a guide only. Loan repayments are based on the lowest interest rate (either standard variable or 3-year fixed rate, owner occupier) from our lender panel over a repayment period of 30 years. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Loan Repayments:
The lowest interest rate from our lender panel is either standard variable or 3-year fixed for an owner-occupier. Rates and repayments are indicative only and subject to change. The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.