You can use this simple calculator at right to determine what minimum repayments you would need to make on a given loan. However, depending on your circumstances lenders may not let you make repayments this large. Only your chosen lender can set a definite repayment. As well as checking you can make the required repayments, you should also check that you can:

• Continue repayments if interest rates rise, say, 2 per cent from today's level.
• Contribute a downpayment (money from your own pocket) worth at least 10 per cent of the property's value.
• Provide cash for fees such as stamp duty and conveyancing.

 

I want to buy a property costing:

$

I can contribute a downpayment of

$

I expect interest rates will be:

%

I will pay off the loan over:

years

My repayments would be:

$

Note: Theoretical figures only; consult your chosen lender for actual figures.

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