Best Home Loans Calculator
Find the Best Home Loans with Expert Brokers & Buying Tools. Get Your Estimates to Find the Best Home Loans!
This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
Easily Compare Interest Rates to Find the Best Home Loans
For many buyers, ‘best’ will be defined as the cheapest. The cost of a mortgage is primarily determined by the interest rates. Property finance is available with both fixed and variable interest rates, with rates and terms varying across the vast lending market.
Prospective borrowers can use our calculator to easily turn those rates into repayment estimates on their specific borrowing amount or property price. Calculate estimates to compare lenders and find the most affordable option.
Ensure you compare others with our latest highly competitive rates to see how we may find you a better property loan. Start calculating estimates and contact us for the most competitive rate specific to your profile. Request a quote now!
As specialists in property finance, we focus on securing the most competitive rates and most workable loans for each customer. There are many lending products on the market for buyers to select from. We have accreditations with more than 80 banks and non-bank lenders to ensure our brokers can secure the cheapest rates and most affordable loan for each buyer. Request a quote for your ideal interest rate loan.
- Use a mortgage calculator to compare lender rates.
- Calculate estimates for variable and fixed rate mortgages.
- Engage with our experts for best rates from 80+ lenders.
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Cover all bases by using all available resources to ensure you secure the ideal mortgage. We provide buyers of all types of properties with a convenient online mortgage calculator to quickly get loan estimates to compare and evaluate.
To secure the most competitive rates, we provide expert mortgage broker services to support buyers, cover our vast 80+ lender market and deliver the most affordable option.
Get started on obtaining your estimates or connect with us online for a quick quote on your ideal property loan.
Get Quick Estimates to Evaluate the Best Home Loans for Your Property Purchase
The ideal loan is the one that suits the individual budget with manageable repayments. In addition to looking for the best rates, buyers may start by ensuring that they select a property within their budget range. To assist with selection, property prices can be quickly converted to loan repayment estimates using our mortgage calculator. Work up estimates based on the amount required to purchase different properties and compare the repayment estimates. Narrow down your search for the right property and get closer to achieving that ideal mortgage. Get estimates now.
There are many mortgage products on the market with varying rates and terms and lender approval criteria. In approving an application and making an offer, lenders consider the credit profile and financials of the prospective borrower, along with the loan to value ratio (LVR) of the requested loan amount. A fixed or variable rate may be offered with varying terms. Buyers may assess the suitability and appeal of different loan products from different lenders by estimating the repayments based on the advertised rates and terms. Most mortgages are set-up with an offset account. This may allow for less interest to be accrued on the loan where income is deposited regularly into that account. Keep that in mind when comparing the different products.
The deposit is an important factor when seeking a property loan. The deposit impacts the loan in a number of ways, and making a larger deposit may result in securing a better loan. The larger the deposit, the lower the total borrowings and the lower the monthly repayments. A larger deposit also improves the loan to value ratio and the risk factor for lenders. Aspects which can result in a better interest rate to further reduce the repayments. While 20% is a standard deposit requirement, some property buyers can be approved for low deposit mortgages with a 10% or lower deposit. These low deposit options are seen as higher risk by lenders and typically require Lender Mortgage Insurance which increases lender fees to the borrower. Use the calculator to work up estimates based on different deposits to assist in making that vital deposit decision.
Finding the ideal loan to finance an investment property is extremely important in realising the expected return on the investment and achieving genuine growth over time. Interest rates on investment property finance are typically higher than for owner-occupier finance. But approval with a lower deposit, less than 10%, is available. Work up estimated repayments to obtain valuable data to assist in evaluating the viability of the investment and to establish the ideal finance solution required to achieve the expected return compared with the rental income.
Deciding on the ideal loan to cover the costs of renovating an existing property or building a new house, may depend on the project plans. The design, the finishes, the inclusions, the choice of builder – all these aspects of a building project can present options and with those options, variations in prices. The mortgage calculator can be a useful tool when preparing the budget and ensuring the costs are in line with your ideal Construction Loan. Use builder quotes or estimates as the borrowing total to work up estimated loan repayments. Alternatively, start with an expected ‘spend’ as the borrowing, and alter the amount until a workable, ideal repayment estimate is achieved.
Compare Properties Based on Loan Estimates
The ideal loan is the one that suits the individual budget with manageable repayments. In addition to looking for the best rates, buyers may start by ensuring that they select a property within their budget range. To assist with selection, property prices can be quickly converted to loan repayment estimates using our mortgage calculator. Work up estimates based on the amount required to purchase different properties and compare the repayment estimates. Narrow down your search for the right property and get closer to achieving that ideal mortgage. Get estimates now.
Assess Different Owner-Occupier Mortgage Products
There are many mortgage products on the market with varying rates and terms and lender approval criteria. In approving an application and making an offer, lenders consider the credit profile and financials of the prospective borrower, along with the loan to value ratio (LVR) of the requested loan amount. A fixed or variable rate may be offered with varying terms. Buyers may assess the suitability and appeal of different loan products from different lenders by estimating the repayments based on the advertised rates and terms. Most mortgages are set-up with an offset account. This may allow for less interest to be accrued on the loan where income is deposited regularly into that account. Keep that in mind when comparing the different products.
Make Decisions on the Ideal Deposit
The deposit is an important factor when seeking a property loan. The deposit impacts the loan in a number of ways, and making a larger deposit may result in securing a better loan. The larger the deposit, the lower the total borrowings and the lower the monthly repayments. A larger deposit also improves the loan to value ratio and the risk factor for lenders. Aspects which can result in a better interest rate to further reduce the repayments. While 20% is a standard deposit requirement, some property buyers can be approved for low deposit mortgages with a 10% or lower deposit. These low deposit options are seen as higher risk by lenders and typically require Lender Mortgage Insurance which increases lender fees to the borrower. Use the calculator to work up estimates based on different deposits to assist in making that vital deposit decision.
Evaluate Affordability of Investment Property Finance
Finding the ideal loan to finance an investment property is extremely important in realising the expected return on the investment and achieving genuine growth over time. Interest rates on investment property finance are typically higher than for owner-occupier finance. But approval with a lower deposit, less than 10%, is available. Work up estimated repayments to obtain valuable data to assist in evaluating the viability of the investment and to establish the ideal finance solution required to achieve the expected return compared with the rental income.
Prepare Budgets for Renovation and Construction Finance
Deciding on the ideal loan to cover the costs of renovating an existing property or building a new house, may depend on the project plans. The design, the finishes, the inclusions, the choice of builder – all these aspects of a building project can present options and with those options, variations in prices. The mortgage calculator can be a useful tool when preparing the budget and ensuring the costs are in line with your ideal Construction Loan. Use builder quotes or estimates as the borrowing total to work up estimated loan repayments. Alternatively, start with an expected ‘spend’ as the borrowing, and alter the amount until a workable, ideal repayment estimate is achieved.
Versatile Mortgage Calculator to Assist with Finding the Best Home Loans
- User-friendly calculator for practical, workable figures.
- Get loan estimates to compare rates, lenders, lending products.
- Establish a borrowing limit to deliver affordable repayments.
- Flexibility to calculate all property loan options.
- Convenient online access to home loan tools.
Expert Guide and Tips to Getting the Best Home Loans
While home buyers will have their own preferences and their own interpretation of what they consider to be the ‘best’ mortgage for them, there are some basic considerations to keep in mind to secure the ideal finance solution.
While it may seem like the right thing to do, requesting quotes from multiple lenders to compare can have a downside which may affect the loan outcome. Multiple applications may impact your credit profile which may then result in higher rates and other consequences. Using a broker does not result in this outcome.
The financial and credit position is critical to interest rate offers. Prior to applying, work on improving the personal balance sheet by paying down other loans including credit cards. Wherever possible, have a significant deposit to attract a better interest rate and to avoid having to incur the additional cost of Lender Mortgage Insurance.
Get loan estimates before inspecting properties to ensure you are selecting properties that are in your finance affordability range. Using the calculator assists with this process.
Consider the interest rate market when deciding whether to opt for a fixed or a variable rate loan. Do you want to have the confidence and assurance of fixed repayments over the initial period of your loan? Or should you select a variable rate loan with the prospect of a rate cut in that initial term?
Using a mortgage broker can assist buyers with professional advice on the upsides and downsides of different loan and rate options. Brokers can also be extremely helpful in sourcing the most affordable loan and supporting buyers to secure their ideal outcome.
- Establish personal budgets and target the best home loan to suit.
- Improve credit position to attract better interest rates.
- Use loan tools and resources to prepare and plan.
Use Our Mortgage Experts to Secure the Best Home Loans
Finding the ideal property finance for our customers is our focus. We work in the best interests of our customers, using our 80+ lender accreditations to secure the most competitive rates and structuring repayment schedules to best suit individual budgets.
Connecting with us is easy and direct with no referral required. We work with all types of property buyers including first-time buyers and provide a comprehensive portfolio of lending products. Our expertise, experience and capabilities may be invaluable in supporting buyers to secure the property finance that best works for them. Consider getting a pre-approved home loan to accurately establish your borrowing limit prior to selecting a property.
onnect with us online or by phone for a mortgage consultation.
Most Frequently Asked Questions About Mortgages
What are the best home loans on the market?
There are many different types and configurations of mortgage products on the market, and each may represent the ideal solution for different property buyers. The ideal loan may be the cheapest which may mean the lowest interest rates or the one offering the most workable terms.
What is a mortgage broker?
A mortgage broker is a finance industry professional who sources property finance on behalf of buyers. The broker uses their accreditations with lenders to source the best loan option to suit the individual application. Brokers advise buyers on the most suitable lending products and handle the arrangements with lenders to finalise the loan.
What is needed to get the best home loans?
Where the ‘best’ loan is considered the cheapest, buyers will be seeking the lowest interest rates. To be offered better rates, buyers will need a good credit profile and strong financials. A 20% or larger deposit may also contribute to being offered a better loan.
What deposit will I need to get the best mortgage?
The standard mortgage deposit required is 20%. The larger the deposit the better the loan to value ratio and lower risk. This may contribute to a better rate. A loan with a 5-10% deposit may be approved, subject to individual application details, but will attract lender mortgage insurance.
How can first home buyers get the best home loans?
First home buyers with strong financials and a good credit score may be seen positively by lenders and attract better interest rates. Having a sizable deposit, around 20%, can contribute to better rates and avoiding the additional cost of lender mortgage insurance.
How does a home loan calculator work?
Mortgage calculators are online tools provided by lenders and brokers to enable property buyers to calculate their loan repayment estimates. The calculators are generic in that they compute interest and deliver a monthly repayment figure based on the values entered by the buyer. They can be used for all types of property finance.
How will a mortgage broker help me get the best home loans?
Mortgage brokers may assist buyers to secure a better loan with the extensive lender market coverage to find the best offers. Brokers source the most suitable loan product and offer it to buyers using specialist expertise and connections.
How does LVR affect the home loan?
The loan to value ratio is the amount borrowed compared with the value of the property. LVR is assessed by lenders as part of the loan application assessment process. A better LVR with a lower loan compared with the property value, may be seen as a lower risk and attract better rates and loan conditions. Buyers can improve the LVR by increasing their deposit.
Does the type of property affect the home loan?
The same types of loan products can be used for freestanding houses, semis and apartments, both existing and newly constructed. Different loan products apply to owner-occupier, investor, and construction finance. House and land packages may be financed with a standard home loan or with a construction loan, depending on the specifics of the acquisition.
Does the location of the property affect a home loan?
Essentially, mortgage applications are primarily assessed on the credentials and financials of the loan applicant and the value and condition of the property. Where the location of a property is in a vulnerable area such as flood-prone areas, this aspect may be seen as a higher risk by lenders. Those considerations are subject to individual lender guidelines.
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