How Much Can I Borrow?
When it comes to applying for a mortgage, there’s nothing quite as important as understanding how much you can actually borrow. Getting your deposit together is one thing – but it’s also a good idea to learn what you can expect to pay back as the years go by. That’s where our mortgage calculator comes into the fray, so if you’re wondering how much you can afford to borrow – simply enter your information below for an idea of what you will be expected to pay back.
Why would you need to use a mortgage loan calculator?
Our calculator makes it easy for you to work out the amount that you’d like to borrow, deduct your initial deposit, include any interest rates as they currently stand and then define how long you have to pay back your loan. This process makes it incredibly easy to understand how much you can afford to borrow, whilst making sure that you won’t be demanding too much of yourself when it comes to paying your lender back.
With this information, you will be able to approach your chosen lender, clearly demonstrate your intentions and even speed up the application process itself. You won’t need to spend hours working out your finances with your lender – the calculator will take care of all of the hard work for you. There’s no limit to the amount of times that you can enter your information either – in fact you could even obtain a variety of results to present a range of options when it comes to deciding on your loan.
How accurate is our calculator?
As each input field requires specific data (such as the number of years that you would like to pay back your loan and the bank’s interest rate itself), the results can be considered as accurate as any lender’s tools or facilities. All that you’ll need to do is to add your information as precisely as possible and you’ll be presented with a weekly, bi-weekly, or monthly payment amount – it really is as easy as that.
Don’t leave working out your repayments until the last minute. Save yourself time and stress by preparing your mortgage amount ahead of time and you’ll be one step closer to obtaining the home of your dreams!