Home Loan Calculator: top online calculators

A home loan calculator is a handy tool when evaluating your borrowing potential. Here we highlight two of the top online calculators...

infochoice
infochoice provides an efficient home loan calculator amongst the thousands of products available for evaluation on its website. You have a choice of variable rate, fixed rate or intro rate home loans.

The options are logically set out, with direct links to featuredhome loans. A side panel contains a list of today’s top home loan rates, giving you a snapshot of the best places to go to calculate your home loan. Changing the rate options (popular/all variable/popular 3 year/all 3 year) will automatically calculate the relevant interest rate.

There is also a range of powerful home loan calculators, covering everything from principal & interest to extra repayment, from lump sums and split loans to a stamp duty calculator (There are even savings and credit card repayment calculators).

Your Mortgage
Although not quite as comprehensive as infochoice, Your Mortgage still have an impressively wide range of available calculators. Their simple ‘how much can I borrow’ calculator gives an instant picture, in an easy-to-complete web form. This takes into account income and expenditure, set against current interest rates. A built-in buffer covers interest rate rises.

An advanced repayment calculator not only calculates the loan repayment and the total interest paid, it demonstrates the effect of additional repayments. It will redraw your borrowing figure and produce a table showing how your revised loan will pan out.