Equity Loan Calculator

Important: All figures produced by this calculator are indicative only. We've made some assumptions in this calculator – please read them as they affect the figures produced. Those assumptions are:

What you've told us is correct. We use the information (including estimated property value, current loan balance, interest rate, rental income etc) that you input and assume it is correct. Please note: if you apply for a new or increased loan with us, we will separately value your property, and our valuation may be different.

We use monthly figures in this calculator. If you input a weekly, fortnightly or annual amount, we will convert it into an annual amount (if needed), and then into a monthly amount assuming there are exactly 52 weeks, 26 fortnights, and 12 months of equal length in each year. If you ask us to show repayments otherwise than on a monthly basis, we follow the same rule, but in reverse.

"Your new balance could be" is simply 80% of your estimated property value. This is not necessarily the amount we would lend (which could be more or less). The amount we lend takes into account a range of things including what repayments you can afford, your credit information, our valuation of the property and whether Lenders Mortgage Insurance is an option. The accuracy of this figure also affects "Your available equity".

Your monthly repayments are calculated assuming:

• a Principal and Interest loan with the rate and remaining term you have input.
• the rate does not change for that remaining term.
• there are no ongoing fees payable.
• repayments are payable, and interest is charged, monthly and on the same day. To calculate monthly interest, we calculate your annual interest charge and divide it by 12.

Selling costs are a guide only and we assume you will add / amend as relevant. When considering this, please keep in mind:

• We've assumed a selling agent fee of 2.5% of property value you have entered. Learn more about agent fees at the Which Real Estate Agent website.
• We've assumed a $2,500 conveyance fee. Depending on who you use, whether you use a conveyance or lawyer and the complexity of the work, it could cost more or less. For more info about conveyance fees, see the Australian Institute of Conveyancers' website.
• We've assumed a $350 discharge fee. This is based on the fee that NAB charges to discharge a single mortgage. Other lenders may charge differently.