Cheap Home Loans Calculator
Get Expert Help & Resources to Secure Cheap Home Loans. Estimate Cheap Home Loans Options Now!
This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
Quickly Compare Our Rates for Cheap Home Loans
The Australian property market is one of, if not the most, complex areas in the lending sector. Property buyers seeking finance are confronted with a multitude of lending products, different extras and inclusions, different lender criteria, and different rates. Rates may be fixed or variable, with comparison rates also displayed by lenders.
We provide buyers with an easy-to-use calculation tool to empower them to quickly compare interest rates and repayments based on the specific amount they wish to borrow for their property. Rates from other lenders can be compared with our highly competitive mortgage rates to estimate repayments and assist with making critical decisions on the purchase and the financing.
Get your quick estimates now and for your specific best rate, request a quote.
We assist home buyers to easily secure the most competitive rates to suit their individual profile and property finance requirements. As specialists in the market, we have accreditations with more than 80 lenders which includes Australia’s leading banks, the major source of mortgages for owner-occupiers. Our expert brokers handle sourcing the best rates from across the vast market, saving buyers time and confusion. Get your best rate – request a quote.
- Secure best mortgage rates – 80+ lender coverage.
- Specialist mortgage brokers to source your best rates.
- Experts to advise the most suitable lending products.
Read more...
The large number of lenders and lending products confusing your search for the most affordable mortgage? Get expert assistance from our mortgage specialists to not only help you navigate the extensive property market, but to secure the most affordable option to suit your specific requirements.
We provide property buyers with a complete portfolio of loan products and access to an 80+ lender market to secure those all-important best interest rates.
Start by getting estimates using our mortgage tool or contact us directly for your personal quote.
Use Our Calculator to Estimate Your Cheap Home Loans Option
One of the greatest challenges when buying property with finance is selecting a property in an affordable price range – the price range that equates to a mortgage with workable repayments. Using our calculator, buyers can quickly convert a price or a borrowing amount, into repayment estimates. Allowing buyers to focus their property search on a defined price range. Simplifying and expediting the process. If bidding at auction, use the calculator on your phone to quickly see how higher bids may affect the repayment estimates. Compare your preferred properties right now.
Whether applying for finance to buy a new property or seeking refinance for an existing loan, borrowers have numerous options to consider. Lenders offer both fixed and variable rate financing, with varying conditions, benefits and extras such as rate reductions for higher LVRs. Borrowers can calculate estimates for the amount they need for different rates and terms using our calculator. When using rates sourced from lenders, note any specific conditions with that product, and note the Comparison Rate. This is the interest rate when certain lender fees are included, and the rate calculated for a specific loan. Fees and charges vary across the lending market and should be noted when seeking the cheapest loan option. Using our mortgage brokers can assist by providing professional advice in explaining the specifics of each product.
Deposits are an extremely significant consideration with property finance. The deposit establishes the loan-to-value ratio which is a key indicator that lenders assess when deciding on individual rate offers. A deposit of 20% is a standard expectation. Some lenders may stipulate a higher deposit while some offer a rate reduction for higher LVRs, e.g. 70%. Buyers with 5-10% deposits may be approved for low deposit finance, but higher rates and lender mortgage insurance would apply. Using the calculator, buyers can estimate repayments based on varying deposits to clearly see the deposit effect and assist with their decisions.
An investment in property can be an astute decision. But to achieve the expected return, investors will typically be seeking the most affordable finance solution. An investment property loan can be approved with a deposit of 10% or less, but higher interest rates typically apply, compared with owner-occupier finance. Using the calculator, investors can easily estimate the finance payments to assess the workability and profitability of the investment when assessed against the expected rental return.
Preparing a budget based on financing for renovations or to build a new house can be simplified with our calculator. The estimate or quote from the builder can be converted to construction loan repayment estimates in seconds. Alternatively, enter the amount you are considering spending on the project as the loan total, our best rates, and quickly see the loan repayment estimate. Not in the ballpark? Adjust the loan total until the repayment is in your affordability zone. Now you have a figure to work with, you can advise designers, architects and builders of your budget and have the project designed and built to your financing requirements.
Compare Repayment Estimates on Different Properties
One of the greatest challenges when buying property with finance is selecting a property in an affordable price range – the price range that equates to a mortgage with workable repayments. Using our calculator, buyers can quickly convert a price or a borrowing amount, into repayment estimates. Allowing buyers to focus their property search on a defined price range. Simplifying and expediting the process. If bidding at auction, use the calculator on your phone to quickly see how higher bids may affect the repayment estimates. Compare your preferred properties right now.
Evaluate Fixed and Variable Rate Home Loan Products
Whether applying for finance to buy a new property or seeking refinance for an existing loan, borrowers have numerous options to consider. Lenders offer both fixed and variable rate financing, with varying conditions, benefits and extras such as rate reductions for higher LVRs. Borrowers can calculate estimates for the amount they need for different rates and terms using our calculator. When using rates sourced from lenders, note any specific conditions with that product, and note the Comparison Rate. This is the interest rate when certain lender fees are included, and the rate calculated for a specific loan. Fees and charges vary across the lending market and should be noted when seeking the cheapest loan option. Using our mortgage brokers can assist by providing professional advice in explaining the specifics of each product.
Clarify Significance of Property Loan Deposits
Deposits are an extremely significant consideration with property finance. The deposit establishes the loan-to-value ratio which is a key indicator that lenders assess when deciding on individual rate offers. A deposit of 20% is a standard expectation. Some lenders may stipulate a higher deposit while some offer a rate reduction for higher LVRs, e.g. 70%. Buyers with 5-10% deposits may be approved for low deposit finance, but higher rates and lender mortgage insurance would apply. Using the calculator, buyers can estimate repayments based on varying deposits to clearly see the deposit effect and assist with their decisions.
Assess Workability of Property Investments
An investment in property can be an astute decision. But to achieve the expected return, investors will typically be seeking the most affordable finance solution. An investment property loan can be approved with a deposit of 10% or less, but higher interest rates typically apply, compared with owner-occupier finance. Using the calculator, investors can easily estimate the finance payments to assess the workability and profitability of the investment when assessed against the expected rental return.
Budget for Building and Renovations – Construction Loan
Preparing a budget based on financing for renovations or to build a new house can be simplified with our calculator. The estimate or quote from the builder can be converted to construction loan repayment estimates in seconds. Alternatively, enter the amount you are considering spending on the project as the loan total, our best rates, and quickly see the loan repayment estimate. Not in the ballpark? Adjust the loan total until the repayment is in your affordability zone. Now you have a figure to work with, you can advise designers, architects and builders of your budget and have the project designed and built to your financing requirements.
Easily Assess, Evaluate, Compare Complete Cheap Home Loans Portfolio
- Streamline choice of the right lending product.
- Simplify finding cheapest repayments.
- Compare fixed and variable interest rate loans.
- Set property purchase budgets based on loan repayments.
- Demystify the property lending market – simple calculations.
Guidelines for Securing Cheap Home Loans
With so many variations in property finance products there are many issues and aspects for loan seekers to consider to secure the cheapest solution. Most importantly, be aware that applying to numerous lenders for the same loan can have a negative impact on the credit profile which may affect the interest rate offer. When using our broker service, we cover multiple lenders without impacting our customers’ credit profile.
Having a good credit score and strong financial position is crucial to receiving the best loan offers. Check your credit profile and fix any errors where possible. Improve the finance position by finalising other loans before applying for your property finance.
Use our calculator to estimate loans on properties before inspecting to ensure the property is an affordable option based on repayment estimates.
When comparing lending products, look at discounts for good LVRs and other extra benefits offered by a lender. These may be highly beneficial in reducing the cost of the loan and may influence deposit and other decisions. Check if there are any minimum loan amounts and other conditions.
An offset account is widely used by borrowers and can be effective in reducing interest charges where income is deposited regularly and balances kept at a certain level. Consider any opportunities to split the loan between a fixed and a variable rate portion. This may offer a more affordable option over the long term of a mortgage.
Engage with a mortgage broker early. Our experts can assist with advising on different lending products and structuring the loan to best meet individual objectives. Consider applying for finance prior to buying to have your borrowing limit confirmed. This can assist with setting your purchase price range.
- Assess credit profile and financials prior to applying.
- Engage with brokers for professional advice.
- Consider pre-approved finance for confirmed borrowing limits.
Directly Connect with Our Mortgage Specialists for Cheap Home Loans
Buyers of all types of properties can directly connect with our specialists with no referral. We offer a comprehensive portfolio of property finance products and options, with solutions sourced for all types of properties and all buyers.
Our services include advising and sourcing the most suitable loan product, the most suitable lender, the cheapest interest rates, structuring finance with workable repayments, and handling all arrangements with the lenders. Our application procedure is streamlined and straightforward to simplify what can be a highly complex process.
For professional, expert assistance to source you the cheapest property finance, connect with us online or by phone.
Most Frequently Asked Questions About Mortgages
What is an offset account?
An offset account is a bank account set-up in conjunction with a property loan. The borrower uses this account as their everyday transaction account to deposit income and withdraw expenses. The loan repayments are deducted from this account on a monthly basis. By leaving funds that are not required for regular expenses in the account, the interest charges may be offset or reduced.
What is the loan-to-value ratio?
The loan to value ratio is the ratio of the amount borrowed on the loan compared with the value of the property. A better ratio may represent lower risk to lenders and attract a better interest rate. A high ratio which can result from smaller deposits, may represent a higher risk and attract higher rates.
Will my home loan repayments change over the term?
Fixed rates deliver fixed repayments that do not change for the term of that fixed rate. Variable rates are subject to change when the lender changes their rates. If a variable rate loan changes, the repayments will change.
What is the interest rate on low deposit home loans?
Rates are offered based on individual assessments of applications by lenders. Low deposit loans attract higher rates than standard 20% deposit loans. For a specific rate, loan seekers will need to request a quote.
What is a comparison rate?
A comparison rate is the interest rate on a specific loan based on the standard fixed or variable rate and with lender fees and charges included. Comparison rates are displayed by lenders with a description of the specific loan that this rate has been based on.
What do I need to get approved for cheap home loans?
To apply for property finance, applicants will need to provide a range of documents and details on income, employment, assets and liabilities, and general financials. Documents may include tax returns, bank statements, and similar. To be offered the best rates, applicants will need a good credit score and strong financials.
What is the best deposit to ensure a cheap home loan?
The deposit reduces the finance required to purchase a property and hence the repayments. The standard deposit expectation for owner-occupier loans is 20%. A larger deposit will provide a better LVR and may attract a better rate and cheaper loan repayments.
How does a home loan calculator work?
Online property finance calculators are used by property buyers to calculate estimated repayments based on different property prices or borrowings and different rates. Calculators work out complex interest computations to display the monthly repayment based on the figures entered by the calculator user.
Why is my loan offer different from the result I get with an online calculator?
Results calculated with an online calculator are estimates only. These online devices do not allow for the fees and charges which are applied by lenders. These fees may vary with the lending product and across the market. The calculator does not establish the credit profile of the user. The rate the user has entered may not be the rate they are offered when they submit a loan application. Offers may differ from calculator results.
How will a mortgage broker help to get me a cheap home loan?
Mortgage brokers act on behalf of customers seeking property finance. They have accreditations with lenders to use the lenders’ products for their customers. Brokers find the most suitable lending product and best rates from across all the lender accreditations. They advise customers on the specifics of products and handle the negotiations and arrangements of setting up the loan.
Let Yes Home Loans simplify the process by taking care of the complicated steps for you
