Calculators
Two numbers worth knowing before you talk to anyone.
Neither is a quote, and neither knows anything about your income. But both beat guessing, and they'll make the first conversation much shorter.
Have a play
A rough guess is fine — the lender will value it properly later
Assumes a 20% deposit plus about 5% for stamp duty and fees
Not sure what your place is worth? Look at what similar homes on your street have actually sold for in the last six months, not what they're listed at. A lender's valuer will do roughly the same thing.
Equity you could use
$160,000
- Your loan to value ratio now
- 61%
- Deposit + costs on the next one
- $155,000
Looks possible
$5,000 spare
On deposit alone, the equity is there. The next question is whether a lender agrees your income can carry both loans.
What "usable equity" means: lenders will generally lend against up to 80% of what a property is worth. Take 80% of your value, subtract what you still owe, and what's left is the part you can actually get at.
20% of the purchase price
Rates move — we'll quote you real ones
Estimated repayment
$4,012/month
- Loan amount
- $680,000
- Total interest over the term
- $764,175
- Total repaid
- $1,444,175
Good At 80% or below you'll usually avoid lenders mortgage insurance.
Estimates only, and general information rather than credit advice. They assume principal-and-interest repayments at a constant rate, ignore fees, offset accounts and lenders mortgage insurance, and take no account of your income, existing debts or circumstances. Having equity is not the same as being approved.