How we calculate

Annuity keeps payments level while the rate is unchanged. With equal principal the payment declines. Reverse mode finds the largest amount from the first payment; home capacity applies the 50% limit and a rate of at least 6%.

The one-off contract fee is paid separately at origination. It is included in total outlay but does not change the monthly payment or loan amount. Default: 0.

The entered rate is a constant annual percentage; the monthly rate is the annual rate / 12. Payments fall at month end. Interest rounds to cents monthly and the final payment may differ. The income-based home-loan limit uses a 50% payment burden, deducts other obligations and applies a stress rate of at least 6% with a term of up to 30 years. The model does not assess collateral value, the 85% loan-to-value limit or 90% with a state guarantee, or bank exceptions. It is not a bank lending decision.