Mortgage Calculator

Looking to buy your first home or refinance your existing home loan? Use our mortgage calculator to figure out what you could borrow, what your mortgage repayments may be plus anticipated savings and much more.

As a home buyer, it’s important to know how much you could borrow and that the amount you may borrow with one lender will not always be the same with another.

By accessing ACF’s home loan calculator, you are likely to learn how much you could borrow, different interest rate options available based on the principal amount and predicted monthly loan repayments.

Using a Mortgage Calculator


Here’s how it works:

  1. Enter in the length of the mortgage (normally at least 15-25 years)
  2. Enter in your combined salary amounts
  3. What your expenses are
  4. How many dependants you have

Once you’ve entered these details, you’ll be presented with an amount based on the figures you’ve provided.

The #1 mistake potential home buyers make when using our mortgage calculator is entering in unrealistic figures.

It pays to ensure that the figures you’re entering match up with your own budget allowances. This will ensure that the answers you see are an accurate reflection of what you can comfortably afford.

Compare Home Loans


Work Out Your Home Loan Repayments


Use the mortgage calculator to figure out what your expected mortgage repayments will be. You can try weekly, fortnightly and monthly mortgage repayments; to figure out which one is going to work best with your current budget.

It’s important to note that if you are making payments weekly or fortnightly, you’ll reduce the amount of interest (reducing your principal) you’re paying faster than if you were to pay monthly.

This is best illustrated through some examples:

Let’s say you’re mortgage is going to be $500,000. Your loan term is 25 years. You’ve opted for a principal and interest loan type with a fixed interest rate for 3 years of 4.29%.

  • If you opted to pay your repayments monthly, your repayment amount would be $2,719.90.
  • If you opted to make repayments fortnightly, the payment amount would be $1,254.67
  • If you opted for weekly payments, the repayment amount would be $627.19.

While this might not seem like much, when you compare the total interest payable over the term of the loan, you can start to see the power in making weekly or fortnightly repayments.

  • Total interest payable if paid monthly: $296,077.44
  • Total interest payable if paid fortnightly: $295,664.40
  • Total interest payable if paid weekly: $295,487.32

While there isn’t too much difference between weekly and fortnightly repayments, there definitely is between monthly and fortnightly or weekly repayments.

How quickly your principal is paid down is directly related to how often you’re making repayments.

It’s something to keep in mind as you consider your home loan options.

Remember, knowledge is power. The home loan calculator is powerful tool when used alongside the right information, which you can get when chatting with a qualified mortgage broker.

Using the easy-to-use ACF mortgage calculator can help you make an informed decision about your home purchase or refinance.

Contact Australian Credit and Finance today to discuss your home loan and mortgage refinance needs.

Talk to our friendly team of Australian Credit and Finance mortgage experts who can help you navigate your way through the process of buying a home, investing in property or refinancing your home loan. Call us today on 1300 735 557 to discuss your home loan options.