RAMS Borrowing Power Calculator can help you find out how much you could borrow based on your situation. This can assist you in preparing your finances, comparing loans, and knowing precisely what your borrowing capacity looks like.
Searching for the perfect place? It’s time to have a look at numbers! Whether buying your own home or an investment property, your ability to do so will largely depend on affordability. Having an honest look at your current salary, debts and expenses will assist in establishing your borrowing power - which is the estimated amount your home loan lender might lend you, based on your current circumstances.
Do you wish to calculate how much you might be able to borrow for your home loan? Our handy tool can help! For best results, fill in a few details about yourself (including salary and expenses) to estimate what your borrowing power could be.
This calculator estimates an amount you may be able to borrow, based on the information and interest rate you input. If you change any of the information, including the interest rate, you will obtain a different result. The result does not include any applicable fees. This is not an offer of credit, and you should not rely on it. The actual amount you can borrow can only be determined once you submit a full application to us and we assess your application using our credit criteria applicable at that time. These estimates are indicative only and actual costs and the amount you could borrow may vary based on a number of factors including loan purpose. Before acting on the results of this calculator you should seek professional advice and contact your local RAMS Home Loan Specialist.
Whether buying a new home, refinancing an existing home loan or investing in property, RAMS mortgage calculators can give you an estimate of what your repayments could be, based on your home loan amount, your loan type and the interest rate you think you'll be paying. Once you get an idea of your mortgage repayments from the calculator, together with the rest of your budget, you'll start to see whether you can realistically afford the home you want to buy. Your local RAMS franchisee can also help guide you through this process.
Fees and costs when buying a house are not limited to the agreed property price. Government fees, Lenders Mortgage Insurance (where applicable), council rates and utilities all add up. That’s on top of upfront costs such as conveyancing fees, property inspections and removal costs
An offset account is an everyday deposit account which is linked to your variable rate home loan: the money you hold in this offset account can reduce the amount of interest payable on your home loan. Additionally, the offset account acts as an everyday account and you can access your funds anytime.
Having a clear idea of what your budget looks like, by combining multiple income and expense flows, allows you to plan ahead, work out where your money is going, and what your net disposable income is after tax.
RAMS stamp duty calculator will show you how much in government fees and charges you can expect to pay in the state or territory you’re buying in.