Home loans by choice

Rent or Buy Calculator

Our rent or buy calculator helps you compare the cost of renting versus owning a home, so you can make an informed decision based on your goals and budget.
apartment to rent or buy with gray fabric loveseat near brown wooden table
$
%
years

Using your current rental payments, you could be paying off an estimated loan of:

$244,953

With a 20 % deposit of $0, your total buying power could be

$0
This calculator is designed to give you an estimate of what size loan your rental payments may be able to service, using the interest rate and loan term you have selected in the calculator. It is not an indication of your borrowing power and has not taken into account factors that would be considered in a credit assessment if you apply for a home loan. The results do not constitute any agreement by any lender to provide credit. Initial calculations are based on average rent for a 2 bedroom apartment in Australia of $650 per week at 5.80% for 30 years, paying principle and interest.

Renting but looking to buy?

Simply drop on what you pay on rent and calculate what the equivalent loan value would be.

Want to see if you could actually borrow this amount? Get a quick estimate of borrowing power as well.
Check my borrowing power

Renting but looking to buy your own home?

If you are renting, you are already managing regular payments each week or month. This calculator flips that thinking and shows what those same repayments could look like as a home loan.

Enter your current rent, an estimated interest rate and your preferred loan term. We will calculate the loan amount that may result in similar repayments. It is a simple way to explore whether your current budget could support buying a property.

How It Works

Your rent is used as a guide for potential loan repayments. Based on the rate and term you choose, the calculator works backwards to estimate a loan size that aligns with what you are already paying.

Keep in mind this is an estimate only. Lenders will also look at your income, living expenses, debts, credit profile and deposit when assessing your application.

At Home Loans By Choice, we can take this further. We review your full position, compare options across our lender panel and help you understand what may be possible based on your situation. If you are thinking about moving from renting to owning, we are here to support you at every stage.

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Our expert insights will help guide you through the process and get you to your goal sooner.
0412 093 385

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Choice

Home Loans By Choice help you compare thousands of loan options from Australian bank and non-bank lenders, get expert help from a local mortgage broker, and explore tools to help you find, buy and own with confidence.

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Able Accounting & Taxation Services Pty Ltd trading as Home Loans By Choice (ABN 77119247997) is authorised under Australian Credit Licence: 421861.

IMPORTANT NOTE: All content is general information only and is subject to change at any given time. Your complete financial situation will need to be assessed before acceptance of any proposal or product. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. Any recommendations made about a financial product are general advice only and has not taken into account your particular needs and circumstances. You should consider the Product Disclosure Statement to determine if the product is suitable for you before you decide to purchase it.

Home Loans By Choice compares loan options from a range of lenders but may not consider all products available in the market. If you choose to proceed, you may be connected with a licensed mortgage broker who can assist with your application. We may receive a commission if you obtain a loan through our platform. CDR data is sourced from participating Australian financial institutions in accordance with the Consumer Data Right.