Home Loan Affordability Calculator

This Home Loan Affordability Calculator is the perfect calculator to use to work out the amount you can borrow for a home loan. Its a great tool for people renting, so you can see the benefits of getting out of the 'rent cycle' and into a house of your own.
What Can I Afford To Borrow For A Home Loan?
This is one of the most frequently asked questions that home loan lenders and mortgage brokers hear.
The answers are contained in this affordability calculator.
All you have to do is enter the amount of rent that you are currently paying, the surplus cash that you have, and the amount you spend; choosing the frequency that these factor happen. If you have done some research on a home loan, you would have discovered the Interest Rate that banks and home loan lenders will be charging and the maximum home loan term they offer. Most home loan lenders will have loan terms of between 25 to 30 years.
The Home Loan Affordability Calculator will then display the amount you can afford to borrow, what the repayments will be, and other details of the home loan including the total interest you will be paying, and if you enter the deposit percentage required this calculator will also display the amount of deposit you will need to save for.

It is also very important to factor in the Stamp Duty you will also have to pay, so take a look at the Stamp Duty Calculator to know what you will need to add to your Home Loan.