You calculate it. Our easy to use borrowing power calculator allows you to input your income, expenses and add dependents. This will allow you obtain an idea of how much you can afford to borrow. Please note that the lenders use different assessment rates to work out how much you can borrow and therefore we encourage you to contact your broker and at Illawarra Mortgage Brokers to discuss which lender would be most appropriate for your borrowing needs.
Our easy to use loan repayment calculator allows you to input your loan amount, interest rate, loan term, loan type and repayment frequency in order to give you an idea of what a loan will cost you, based on the interest rate that you enter into the calculator. This information is to be used as a guide only. Obviously we need to determine which lender would most suitable for you, and therefore the interest rates that you enter into the calculator may not be a correct comparison of the rate that you may be able to achieve. We encourage you to contact your broker and at Illawarra Mortgage Brokers to discuss which lender would be most appropriate for your needs.
What is a comparison rate? A comparison rate is the true rate of a home loan that encompasses all costs such as application fees, annual fees, monthly fees, the interest rate that you have been quoted and also the exit fees to get out of the loan. The comparison rate will also allow for any other fees that your lender has stated as payable in your loan contract. This allows you to know exactly what that loan is costing you and allows you to compare the exact cost of that loan against another loan.
Our easy to use comparison rate calculator will help you estimate the costs associated with your loan.
Please speak with your mortgage broker about comparison rates, as they can compare several lenders in moments for you, allowing you to be fully informed as to what lenders are going to give you the best deal for your situation.
Please feel free to use our stamp duty calculator. If you are considering purchasing a property in any state of Australia, you will easily be able to look at the costs of stamp duty. Obviously when you are purchasing a property, you will need to know the exact amount of stamp duty that you would be liable for. Your mortgage broker will be able to assist you with working out your stamp duty and all of the other associated costs that arise when purchasing a property.
What is an offset calculator? Our easy to use offset calculator will allow you to see how much you will save if you have spare funds sitting in an offset account against your home loan.
Input your loan amount into the calculator, and the interest rate of the home loan, and enter an amount into the offset account to work out how much money you would save using an offset account.
What does offset mean?
Offset means that the cash balance in your offset transaction account is offset against your outstanding loan balance, reducing the interest payable on the home loan and therefore saving you money. Please see our 100% offset account loan page for detailed information about this type of account.
Compare apples with apples. By using our easy to use loan comparison calculator, you can look at two loans side by side to compare the benefits of each one. The results will be able to tell you in a dollar amount how much you will save.
Your mortgage broker will be able to assist you in finding a suitable range of lenders for you to compare. We encourage you to contact your broker and at Illawarra Mortgage Brokers to discuss which lender would be most appropriate for your needs.
Our easy to use, split loan calculator will allow you to understand your repayments when your loan has been split with a fixed-rate loan and a variable-rate loan. This is a handy tool because it shows you what you could save by splitting your loan with a variable and fixed portion.
- It is crucial that you understand the contract that you will be entering into with the lender BEFORE you apply for a fixed rate home loan.
- This is a lock in type contract that has little downsides for the lender. Once you are in, you are in, and it will generally cost you a lot to get out.
- We encourage you to contact your broker and at Illawarra Mortgage Brokers to discuss which lender and loan type would be most appropriate for your needs.
Please see our Fixed Rate Home Loans page for detailed information about the pros and cons of a fixed rate home loan.
Our easy to use extra repayment calculator will give you an idea of how much you could save by adding an extra amount of money to your loan on a frequent basis. Don’t forget to fill in every field on the calculator to achieve the correct information. This is a fun calculator that lets you know just how effective an extra repayment on a regular basis can be to a home loan.
If you added $100 to your mortgage from your savings and it saved you five years off your loan term, as an example, then please consider this. If your mortgage broker could also achieve a $100 saving per week for you by restructuring your loan, is that worth considering? Add the figures into the calculator
That is what it is there for and you might be surprised at just how many more years you could save off your home loan.The ability to creating savings by being better structured should always be investigated.
Please contact your mortgage broker to find out what other savings could be made by looking at your current loan structure.
Please feel free to check out our easy to use lump sum repayment calculator. This calculator allows you to calculate your savings if you were to place a lump sum into your home loan. If you would like to know more about the effectiveness of lump sums and the benefits that they can have on your home loan, please call your mortgage broker to discuss your individual circumstances.
Our easy to use, how long to repay your loan calculator, will let you know how soon you can pay off your home loan with increased repayments. You simply fill in the fields with your loan amount, interest rate, and your nominated repayment amounts, and don’t forget to change the frequency, and you will soon know exactly how soon you can pay off your home loan.
Please contact your mortgage broker to find out if there is a more competitive loan out there for you, which will allow you to own your home sooner.
Are you selling your property? Understand exactly what your costs will be when you sell. Our easy to use property selling cost calculator will allow you to add all fees and charges associated with the sale of a property, in addition to your loan amount owing. This allows you to know where you stand exactly. You can work out the cost associated with selling your property in seconds.
Buying a property? Need to know exactly what all your costs are adding up to? Then this easy to use, property buying cost calculator, will help you. This calculator takes into account all government charges, lender fees, conveyancing fees, insurance costs, pest and building inspection and moving expenses along with other expenses that you may not have thought about. Please feel free to contact your mortgage broker to discuss all fees and charges, relating to your property purchase, in detail.
- Our honeymoon rate loan calculator can be used to see what savings you could make on a traditional honeymoon rate type loan, also known as an intro loan or introductory loan. We would encourage you to speak with your mortgage broker to find out if this type of loan is going to be suitable for you.
- The intro rate home loan is only offered for new borrowings and will not be available as a refinance option for an existing loan with the same lender. It is a” teaser rate” for new business and it is purely designed to get new clients in the door, for the lender that is advertising it.
Please go to our Intro rate home loan page to find out more about this type of loan.
Our easy to use budget planner calculator will let you know if you can afford a home loan, along with other commitments and expenses that you currently have. It is quite a detailed calculator that will let you know if you can afford to live comfortably once you obtain a home loan.
Do you need to work out your after-tax income? If you know your annual income amount, then this easy-to-use income tax calculator will let you know in seconds how much your after-tax income is per year and per week.
Do you need to know how much you can borrow with a reverse mortgage facility? Our easy to use reverse mortgage calculator will allow you to have an idea of how much you can borrow. The calculator will assess the applicant’s age, the value of the property, and protected equity. Please contact your mortgage broker to discuss a reverse mortgage loan. Your specific situation will determine the viability of this type of loan for you.
Our easy to use leasing calculator allows you to look at repayments and interest payable. It is handy to know what your total payment amount will be compared to your actual purchase price. Please remember that your residual amount or balloon payment and your loan term will affect the end figures. Please contact your mortgage broker to discuss your leasing requirements, as we have a great selection of leasing lenders available to you.
Our savings calculator will allow you to assess how much money you can save over a nominated amount of years with regular deposits. This calculator will look at your initial deposit amount (lump sum), calculate your deposit frequency (weekly, fortnightly, or monthly) and calculate the interest that you would receive on your funds. You will then know how many years you would need to save to achieve your desired balance.
If you are saving to buy a home and feel that you do not have enough deposit, please contact your expert mortgage broker here at Illawarra mortgage brokers, as we may have several suggestions they can get you into a property sooner, without having to wait many years to save a deposit.
Our service is free for non-commercial loans and for the sake of a 5 minute phone call, you may be able to know sooner, what your options are.
Please feel free to use our term deposit calculator. It is a simple to use calculator, that allows you to calculate interest benefits over your nominated term, and in particular your compounded interest over different time frames such as daily monthly and annually. The working tab on this calculator will show you your compounded savings over the term you have chosen.
Our handy and easy to use credit card calculator will allow you to enter figures such as card fees, interest rate, card balance and your minimum repayment. By adding extra money to the higher repayment field, you will be able to see how soon you could pay off your credit card debt. This calculator is useful because you now have the knowledge of how much you need to pay on a regular basis to get rid of your credit card debt once and for all. If your credit card cannot be consolidated into another loan, then this calculator could be handy for you.
Please contact your mortgage broker at Illawarra Mortgage Brokers if you would like to discuss the many options relating to home loans. We have a comprehensive range of loans available from our panel of lenders.
Note: The information provided by the calculator is intended to provide illustrative examples based on stated assumptions and your inputs. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
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