How much can I afford to borrow calculator
How much can I afford to borrow?
This calculator will give you an indication of how much you can afford to pay each month in mortgage repayments, and so how much you might be able to borrow. You can also see how loan term, interest rate and payment frequency affect your borrowing power. You may also be interested in our borrowing power calculator.
Fill in your available funds information: current rent payment, regular surplus cash and money set aside for discretionary spending. Then fill in details of the loan: interest rate, loan term and repayment frequency. The calculator will show how much you can afford to repay each payment period, total borrowing amount and total interest that would be payable aver the life of the loan. The graph will also show the principal and interest payable through the life of the loan. You can also calculate the required deposit based on various deposit percentages. The deposit required will vary depending on the lending institution.
The above calculator will show you what you can approximately physically afford to pay towards a loan.
Actual amount you may be able to borrow will depend on your lender and the balance of your circumstances.
Please take into account that you may also have to pay stamp duty and other set up costs.
Deposit amount will also vary between lenders.
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results
should be used as indication only. They are neither a quote nor a pre-qualification for a home loan.