What does my rent buy me?
Ever wondered how much house you could afford based on the rent you currently pay?
This handy calculator will help answer that question for you.
It is designed to give you an estimate to help you prepare for that big step.
Use this calculator to work out the equivalent loan based on your current rent payments. Then add to this your deposit and presto, now you have an indication of the potential purchase range subject of course to the lending criteria of the bank.
You will need to allow in your plan for additional costs such as valuations, legal costs, moving expenses etc so talk to your advisor to find out what you need to know, they can often negotiate contributions from the bank on your behalf to cover some of these costs.
Estimated Loan Amount: $500,000