Synergy Mortgage Brokers Logo

Home Loan Calculator 

Knowledge is power, and when it comes to buying a home, having the right tools and insights can make all the difference. At Synergy Mortgage Brokers, we understand that navigating the home loan process can feel overwhelming, but, with our user friendly Home Loan Calculator, you can take the guess work out of the equation.


Estimate Your Borrowing Power with Confidence

Our Home Loan Calculator is a simple yet powerful tool designed to help you make informed decisions about your home loan. Based on the details you provide, our calculators will give you an instant estimate of your borrowing power, repayments and property fees.

Understand Your Borrowing Power

Wondering how much you can borrow? The Home Loan Calculator helps you assess your borrowing power based on your financial situation, giving you a clear view of what's within your reach. This allows you to focus on homes that fit within your budget, setting you up for success.

Estimate Your Mortgage Repayments

With just a few clicks, you can input key details such as your loan amount, interest rate, and loan term to instantly calculate your estimated monthly mortgage payments. This gives you a clear idea of what to financially expect, helping you plan ahead and avoid surprises.

Visualise Different Scenarios

Experiment with different loan amounts, interest rates, and terms to see how they impact your monthly payments. This helps you understand the financial implications of different choices, so you can make smarter, more informed decisions.

Plan Your Budget with Confidence

Knowing what you can afford is crucial. With an estimate in hand, you'll be able to better manage your monthly expenses throughout the life of your loan.

Need More Guidance?

While our Home Loan Calculator provides you with the tools to get started, our expert mortgage brokers are here to offer personalised guidance, tailored advice, and ongoing support throughout your home loan journey. We'll help you navigate the complexities of the lending process, find the best loan options for your unique situation, and ensure you make informed, confident decisions every step of the way.


Your dream home is closer than you think! Contact us today to learn more!

Borrowing Capacity Calculator

Repayments Calculator

Have A Question?

We're here to help! Whether you're curious about your borrowing power, need guidance on the home loan process, or have any other questions, our friendly team is just a message away.

Contact

What Is Borrowing Power?

Borrowing power, also known as borrowing capacity, is the loan amount a lender is likely to approve for a borrower based on their financial situation. It helps determine how much you can borrow to purchase a property.

How Is Borrowing Power Calculated?

Your borrowing power is calculated using several factors. These include details such as your salary and any other income you earn, your expenses, living costs and other debts. However, it is important to note that each lender has their own criteria for calculating borrowing power, so your borrowing power may vary slightly beween lenders.

Can Monthly Loan Repayment Amounts Go Up?

Yes, your monthly loan repayment amounts can increase. This can happen if you have a variable interest rate, which may rise during the loan term. Additionally, repayments may go up if you switch from an interest-only loan to a principal and interest loan or if you make additional borrowings or changes to your loan.

How Much Deposit Do You Need For a Home Loan?

The standard deposit for a home loan is 20%. However, some lenders may. allow smaller deposits but will require Lender's Mortgage Insurance (LMI). Some professions and first home buyers may be eligible for LMI waivers or government schemes which allow for smaller deposits without the need for LMI.

How Is Interest Calculated?

Interest is essentially the price you pay for borrowing money from your lender. It is calculated as a percentage of the amount you’ve borrowed (the principal). Interest is calculated daily on the outstanding loan balance and charged monthly. This is why the interest incurred will change month to month.


To calculate interest for a month you multiply the loan balance by the interest rate and divide the result by 365 to get the daily interest charge. Add each daily interest charge for the month to calculate the monthly interest amount.


For example, if the loan balance is $200,000 with an interest rate of 5%, the daily interest charge would be $27.39.


Have questions?

Reach out to one of our Synergy Mortgage Broker team members, we’re here to help.

Enquiry form

Share by: