Fast Mortgage Repayment Calculator
Simply Plan and Compare Property Finance Options Using Our Mortgage Repayment Calculator. Estimate Your Mortgage Repayment Now!
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 Loans & Rates with Yes Home Loans’ Mortgage Repayment Calculator
The most popular use of our calculating tool is to compare interest rates on home loans based on repayment estimates for specific loan amounts. Quickly turning rates and house prices to figures that buyers can relate to and use to make comparisons. Our device is extremely reliable with the latest technology incorporated into the functionality for accurate computations based on the data entered.
To compare repayment estimates at different interest rates, simply enter the amount required for the loan, and the interest rate and applicable term for that rate, and see the estimate displayed. Change the rate to make comparisons. Our current, highly competitive home loan rates can be used to get started. To work out repayments on different borrowing amounts for different priced properties, simply change the total borrowing amount.
Get started on generating your estimates and contact Yes Home Loans for the competitive rate we can source for you.
Home loans can stretch over long timeframes and getting off to the best start with the lowest rate for the first few years can be very important to managing finances and building equity in the property. Rates vary with lenders and for buyers with different credit and financial profiles. With our lender base of 80+ providers, we assist buyers to quickly secure their best rate. Our brokers identify the most suitable lender with the most appropriate lending product and negotiate to secure the lowest interest rates. To simplify your home loan search, contact Yes Home Loans!
- Compare rates with our easy-use mortgage repayment calculator.
- Calculate estimated repayments on different borrowings, property prices.
- Secure best rates from 80+ lenders with our expert brokers.
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The property finance market is vast with many lenders offering varying lending products and varying interest rates. For many home buyers, the scenario can be over-whelming, confusing and appear extremely complicated. At Yes Home Loans, we work towards making home lending easier for buyers, starting with providing free, online access to our buyer-friendly loan calculation tool. An easy-use device which empowers buyers to quickly obtain realistic figures to work with when considering their options.
Turn house prices and loan amounts to estimated repayments at fixed and variable interest rates, for all types of loans. Providing a means to more easily compare home loan interest rates, lenders and lending products. Estimates can be calculated for house and apartment purchases, investment properties, construction loans and refinancing, for full, low and no deposits. Our expert brokers also support buyers by sourcing the most competitive rates and most appropriate, affordable loan option.
Start obtaining the realistic figures you want to plan your home loan.
Estimate Reliable Figures on Your Choice of Home Loan with Yes Home Loans’ Mortgage Repayment Calculator
Our device has the versatility to generate estimates for home loans with different deposit levels and for refinancing. Repayments are calculated based on the borrowing total entered. If comparing house prices, deduct the amount of the deposit to enter only the loan required. A 20% deposit is the standard requirement for most lenders, but home loans based on lesser deposit amounts – 5%, 10% or zero, can be achieved. A lower deposit will mean a higher borrowing limit and typically require borrowers to cover Lender Mortgage Insurance (LMI). Rates can be higher for lower deposits so contact us for your best rate.
Investors can use the calculation device to generate repayment estimates to assess potential ROI on their investment. Investment property loans can be based on different criteria to owner-occupier loans. Rates can be higher than for owner-occupier loans, but investors may use equity in other properties as collateral for the loan, minimising any deposit required. The device may also be used to evaluate the feasibility of interest-only property loans. With this type of financing, repayments pay down only the interest accrued, not the capital. To discuss your loan product options, have an initial discussion with one of our brokers.
An extremely helpful use of our calculation device is to assist property buyers to set a buying price range, based on estimated loan repayments. Property prices, less any deposit, can be turned into monthly repayments for the term of the rate, in a matter of seconds. Allowing buyers to quickly gauge affordability based on their income. Fixed rate home loans are typically arranged over 2-5 years, after which the loan needs to be refinanced with the same or another lender. Variable rate property finance may be over a range of terms but can change with lender and the RBA rate fluctuations.
Construction Loans are available to finance building new homes and for major renovations and improvements to existing dwellings. Our calculation device can be used to estimate repayments for this type of financing, to assist homeowners establish a budget for the works. These loans can be extremely affordable with funds extended based on progress payments by builders through a drawdown loan. If you already have a building or renovation quote or would like to discuss finance options first, speak with one of our brokers.
Homeowners that have built up equity in their existing home or in investment properties, may utilise this equity to purchase other properties through Home Equity Loans. This lending product may be used to expand a property investment portfolio. Older homeowners may also consider a Reverse Mortgage to finance general living or specific expenses.
Estimates for All Deposit Levels, New Loans, Refinancing
Our device has the versatility to generate estimates for home loans with different deposit levels and for refinancing. Repayments are calculated based on the borrowing total entered. If comparing house prices, deduct the amount of the deposit to enter only the loan required. A 20% deposit is the standard requirement for most lenders, but home loans based on lesser deposit amounts – 5%, 10% or zero, can be achieved. A lower deposit will mean a higher borrowing limit and typically require borrowers to cover Lender Mortgage Insurance (LMI). Rates can be higher for lower deposits so contact us for your best rate.
Assess ROI on Investment Properties, Evaluate Interest-Only Loans
Investors can use the calculation device to generate repayment estimates to assess potential ROI on their investment. Investment property loans can be based on different criteria to owner-occupier loans. Rates can be higher than for owner-occupier loans, but investors may use equity in other properties as collateral for the loan, minimising any deposit required. The device may also be used to evaluate the feasibility of interest-only property loans. With this type of financing, repayments pay down only the interest accrued, not the capital. To discuss your loan product options, have an initial discussion with one of our brokers.
Set Buying Price Range Based on Repayments – Variable and Fixed Rate Loans
An extremely helpful use of our calculation device is to assist property buyers to set a buying price range, based on estimated loan repayments. Property prices, less any deposit, can be turned into monthly repayments for the term of the rate, in a matter of seconds. Allowing buyers to quickly gauge affordability based on their income. Fixed rate home loans are typically arranged over 2-5 years, after which the loan needs to be refinanced with the same or another lender. Variable rate property finance may be over a range of terms but can change with lender and the RBA rate fluctuations.
Prepare Building and Renovation Budgets
Construction Loans are available to finance building new homes and for major renovations and improvements to existing dwellings. Our calculation device can be used to estimate repayments for this type of financing, to assist homeowners establish a budget for the works. These loans can be extremely affordable with funds extended based on progress payments by builders through a drawdown loan. If you already have a building or renovation quote or would like to discuss finance options first, speak with one of our brokers.
Consider Property Equity Loan Options
Homeowners that have built up equity in their existing home or in investment properties, may utilise this equity to purchase other properties through Home Equity Loans. This lending product may be used to expand a property investment portfolio. Older homeowners may also consider a Reverse Mortgage to finance general living or specific expenses.
Practical, Buyer-Friendly Mortgage Repayment Calculator
- Generate useful data to support the home buying process.
- Versatility – use for all types of loans, deposits, rates.
- Compare home loan interest rates.
- Estimate mortgage repayments on different priced properties.
- Prepare financing budgets for building and renovations.
User-Friendly Mortgage Repayment Calculator – Simple Steps, Confidential, Online Access
Many buyers in the market for a home with a home loan prefer to plan and consider their options before contacting a lender for a quote. Our property finance calculation tool enables buyers to obtain estimates, compare options, and assess affordability, privately, in their own time and place, and in a few simple steps.
With simple online functionality, users only need to type in the amounts for the lending options they wish to compare. Enter an amount required for the loan. An interest rate applicable to the loan product required and the repayment term aligned with that rate and lender. The device automatically displays the monthly repayment estimate.
To compare the result with another option, simply enter another set of figures. It’s that easy. To move to the next stage – getting figures based purely on individual requirements, connect with one of our Yes Home Loans brokers. This is also a simple process – connect via our online system or by phone.
- User-friendly mortgage repayment calculator.
- User-control – enter and change figures for your own loan.
- User-convenience – privately generate figures, compare options.
Quickly Obtain Quotes from Home Loan Experts to Support Mortgage Repayment Calculator Use
After calculating your property loan estimates, easily move to the next stage of obtaining a quote based on your specific requirements and on our highly competitive interest rates. Contact us and allow our expert brokers to individually source you the best rates on the most appropriate home loan product from our 80+ lender base.
We provide a streamlined application process where home buyers can realise distinct benefits from our extensive experience, vast expertise and large lender base to secure the most affordable home loans. Contact Yes Home Loans now to discuss your home loan requirements.
Most Frequently Asked Questions About Mortgage Repayments
What is the purpose of using a mortgage repayment calculator if it only provides estimates?
A home loan calculation device only provides estimated repayments as this type of tool does not have the functionality to differentiate between the credit and financial profiles of users. The results obtained can provide a useful guide for planning and for comparing the differences between loans with different rates and for different borrowing amounts.
What is Lender Mortgage Insurance?
Lender Mortgage Insurance is taken out by banks and lenders as a guarantee of recouping borrowings if the borrower defaults on a loan. LMI typically applies to low deposit home loans. The cost of the insurance is a lender charge applied to the loan.
How do I know if I will have to pay Lender Mortgage Insurance?
Lender Mortgage Insurance is applied to home loans with a deposit less than the standard 20%. The deposit may be 10% or 5%. If a borrower is applying for a loan with a low deposit, they are likely to be charged LMI. Subject to individual lender guidelines.
How are variable interest rate home loans different from fixed rate home loans?
Variable interest rates are subject to change when the lender changes its rate for that particular loan. Lender rate changes typically occur when the RBA changes the cash rate. Fixed interest rate loans have an interest rate which remains constant and unchanged for a set repayment term.
Can I calculate my home loan over a full 15+ years using an online calculator?
Lenders typically make home loan rate offers over shorter periods than a full 15+ home loan period. When the term for that rate expires, the loan is then refinanced for the next period. Online calculators are formulated to calculate repayments for a certain interest rate over a certain term.
Can I use an online mortgage repayment calculator for estimates on an investment property loan?
Yes. Investment property loans can be estimated using an online calculator by entering the interest rate applicable to the type of loan required. Rates for investment property loans can vary from rates for owner-occupied property loans.
Are home loan repayments the same for financing houses and apartments?
The same types of loan products would apply to houses and apartments, but individual conditions may vary depending on individual lender requirements. For the purpose of calculating estimates, buyers can use the same rates for both types of properties.
How do I know what interest rate to enter when using a mortgage repayment calculator?
When using an online calculation device, users may enter any rate sourced from a home loan lender. Some lender calculators may have their standard rate already pre-entered into the calculator. Others allow users to enter their choice of rate.
How do I know how much I will be approved to borrow for a home loan?
Borrowing limits are based on an assessment of applications by lenders. They are based on income and financial situations. For a confirmed limit, contact a lender.
What deposit do you need for a home loan?
20% is a standard deposit for a home loan. Loans with lower deposits may be approved, subject to individual application details and lender guidelines.
Let Yes Home Loans simplify the process by taking care of the complicated steps for you
