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Home Loan Calculator

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What are these costs?

Property is the amount you will need to borrow to cover the cost of the property that you wish to purchase.

Stamp duty is a tax on written documents. It is imposed by state and territory governments. It can vary depending on the state or territory.

Miscellaneous include things such as fees, lawyers, hiring movers and other miscellaneous costs that may incur.

Lender's Mortgage Insurance (LMI) is generally charged to all borrowers with an Loan to Value Ratio (LVR) over 80%. This is also known as having less than 20% deposit or equity. Don't forget - it protects the lender, not the borrower so if things go south, you'll still need to repay the loan.


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Home loans – everything you need to know!

Buying a home is exciting but the essential home buying processes – such as applying for a home loan – can be less so! However, if you know where to start, what to look out for and how to spot a great interest rate, you can have a little fun during the lead up to settlement day.

Compare home loans

Comparing home loans by different banks and lenders is vital if you want to grab a great mortgage deal. The interest rates passed on from lenders will affect your regular mortgage repayments and how much you will pay off over the entire term of the loan so don’t overlook the importance of comparing – it could save you thousands.

Kick off your search on our mortgage comparison page by selecting how much you wish to borrow, the purpose of the loan, which interest rate type you’d prefer and any loan features you’re interested in. If you’re not sure how much you can borrow scroll up to our home loans calculator at the top of the page. If you are trying to decide on fixed versus variable interest rates or need to know which loan features you require – visit our mortgage news and information page.

Once you’ve done your research and calculations, hit the ‘go to site’ button next to your preferred lender/s and let them do the rest of the work for you.

Home loan calculators

The first step for anyone looking to buy a home is to work out how much you can afford to borrow and repay. This will determine where you can buy, what size house or unit you can afford, what your monthly repayments will look like, how long it will take to pay off your loan and how much of a deposit you will need to save.

Luckily, you can work all of this out with our home loan calculator above. Plug in the amount you wish to borrow, the time you wish to repay it in and the killer interest rate you found through the RateCity mortgage comparison page and you are on your way.

Play around with the calculator by lowering and increasing your borrowing amount or interest rate to see how this affects your repayments. After all, it’s your monthly repayments that will ultimately put constraints of what you can comfortably afford to borrow.

Applying for a home loan

Once you have compared home loans and calculated your mortgage repayments, you may be ready to go ahead and apply for a home loan.

Simply click the ‘go to site’ button next to your chosen home loan lender and it will take you directly to their site. Once you are there you can discuss all your mortgage related questions, including interest rates, loan terms, repayment options and the fees and charges. If you’ve spotted a few great mortgage deals you are free to click through to as many lenders as you like, after all it pays to shop around when the difference could mean thousands of dollars saved.

Home loan news & information

At RateCity we are all about making smarter, more education decisions that will save you money. So while we offer a huge range of home loans to compare onsite we also cover all the latest mortgage news, provide home loan tips and hopefully answer some of your burning mortgage questions. If you’re thinking it – we’re writing it.

Home loan video tips and step-by-step guides

There is a lot to consider, and remember, when you are buying a home. Interest rates, borrowing capacity and mortgage insurance are just a few of the considerations we cover in our home loan video guides. Watch our step-by-step home loan guides for a walk through the entire borrowing and buying process or for some quick mortgage savings tips.


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