Now that you’ve worked out how much spare cash you have on a monthly basis, you have an idea of how much you can afford in mortgage repayments. What you can borrow will vary from lender to lender, and will be based on things such as your income, number of dependants and how much money you have to put towards the purchase of your property.

Build a buffer zone into your mortgage calculations to account for interest rate rises, or other unforseen circumstances. Use a mortgage repayment calculator to enter in a range of interest rates at two or three percent higher than current levels.

You can also use an interest only mortgage calculator to calculate repayments on an interest only home loan.

Our handy mortgage borrowing power calculator will give you a rough guide as to how much you can borrow.

Don’t forget to find out your stamp duty rate and mortgage duty rate, as these amounts will reduce the amount you can spend on buying a house. The rates vary from state to state.

Our handy stamp duty calculator will help you calculate your stamp duty.