FunanceRate rises and falls
Run 0.25%, 0.5% and 1% in either direction against your real balance and term, and see the repayment and the total interest change together.
Mortgage scenarios for Australian borrowersWhat happens if rates move again?
A repayment calculator tells you what you owe today. A scenario engine tells you what happens if the RBA moves, if you put an extra $200 a month in, or if you refinance. Those are the questions that actually change decisions.
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With the cash rate at 4.35%, the interesting question is no longer what your repayment is. You know that. It is what your repayment becomes under the moves that are plausible from here, and which lever does the most for you.
Funance models the loan you actually have, not a generic one: your balance, your rate, your remaining term, your offset. Then it lets you run the scenarios side by side rather than one at a time.
The comparison is the point. Extra repayments and an offset balance can look similar in isolation and behave quite differently over a full term.
| Scenario | Monthly repayment |
|---|---|
| Today, 6.10% | About $4,010 |
| +0.25% | About $4,115 |
| +0.50% | About $4,220 |
| +1.00% | About $4,435 |
| −0.25% | About $3,905 |
| Gap, −0.25% to +1.00% | About $530 a month |
$650,000 over 27 years at 6.1%. Illustrative figures, principal and interest, not a quote.
Levers you can model
What the tool actually does
Extra repayments
Add a fixed monthly amount or a lump sum and watch the payoff date move. Small amounts early do disproportionate work, and the model shows by how much.
Offset balance
Model cash sitting in an offset against the same loan, so you can compare it directly with paying the money straight off the principal.
Refinance comparison
Put a competing rate next to your current one with the switching costs included, so the comparison is net rather than headline.
What you need to enter
- Current loan balance
- Your interest rate
- Remaining term
- Offset balance, if you have one
Questions
The things everyone asks
Is this a borrowing power calculator?
No. It models a loan you already have rather than estimating what a lender would advance you. It is a planning tool for existing borrowers.
Are the repayment figures exact?
They are estimates calculated from the balance, rate and term you enter, using standard principal and interest amortisation. Your lender's figure may differ slightly with fees and rounding, so treat these as planning numbers rather than a quote.
Which plan includes scenarios?
The Scenarios tab is part of Pro, at $9.90 a month or $79 a year. The Debts tab on the free plan covers repayment and payoff order.
Related
Other things you can work out here
Home equity calculator Australia
Equity is your property's value minus what you owe. Usable equity is a smaller number, and it is the one lenders care about. Confusing the two is how people end up disappointed at the bank.
Home equity calculator →Debt repayment calculator
Two households with identical debts and identical budgets can finish years apart, purely on payoff order. Funance shows both strategies side by side with your numbers, then gives you a date.
Debt repayment calculator →Net worth calculator Australia
Income tells you what came in. Net worth tells you whether any of it stayed. It is the single most useful number a household can track, and almost nobody tracks it.
Net worth calculator →Know where your money goes.
Know where you're going.
Set up your household in about ten minutes. No bank login, no card, no commitment.
Free forever · no card required · no bank login · runs in your browser