Mortgate Calculators
Three useful calculators when buying property or refinancing in Queensland.
Mortgage Calculators Help You Plan
When you are buying property or refinancing your home loan in Queensland, many people find it useful to first get a ballpark idea of important numbers while they are planning what to do.
That’s why we’ve provided for you below, the three most useful calculators so you can get answers to key questions like how much can I borrow, how much will my loan repayments be and what is the cost of transfer (stamp duty) payable?
Want advice from an experienced Brisbane Mortgage Broker or Gold Coast Mortgage Broker, then please book a free call with me.
Borrowing Power Calculator
Our borrowing power calculator will help you work out the highest amount a lender is willing to give you for a home loan.
This value is determined by entering into the calculator your savings, income, expenses, and debts like other loans and credit cards.
Understanding your borrowing power is crucial as it allows you to set realistic expectations and focus your property search on homes that fit within your financial means.
Once you’ve used the borrowing power calculator, I highly recommend you work with an experienced mortgage broker who can help you to increase your borrowing power. These steps will really help you to get into your dream home sooner.
Home Loan Repayments Calculator
If you’re thinking about taking out a home loan or refinancing a loan in Queensland, then first you need to use our Home Loan Repayments Calculator to help you estimate your weekly, fortnightly or monthly home loan repayments.
This calculator takes into account your loan amount, interest rate, and loan term to give you your estimate and you can play around with different loan amounts to get a feel for what level of repayments you think you can afford.
Whether you’re a first-time buyer or seeking to refinance your current mortgage, this calculator offers valuable insights to assist you in making well-informed choices.
Once you’ve used the Home Loan repayments Calculator, you’ll need to partner with an experienced mortgage broker who can help you find the latest home loan that will work best for you.
QLD Stamp Duty Calculator
If you’re looking to buy a home or investment property in Queensland then you’ll need to budget out of your savings for the cost of transfer (stamp) Duty.
We recommend you aim to save a minimum of 5% of the purchase price for a house deposit plus an additional 2% to 3% for various buying expenses, with Transfer Duty (formerly known as stamp duty) being the most significant. Other costs to consider include conveyancing, building inspections, and bank or government fees.
This calculator will give you a more precise estimate of the Transfer Duty payable when buying a home or investment property in Queensland. Since these expenses typically come from your savings or deposit, it’s crucial to budget for them in advance.