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Rent or buy calculator

Our rent or buy calculator helps you compare the cost of renting versus owning a home.

At Smooth Path Finance, we’ll help you understand what the numbers mean for your situation and explore whether buying now or continuing to rent makes more sense. With access to over 60 lenders across Newstead, we can guide you through your options and make the next step clear and achievable.
$
%
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.

Calculator FAQs

  • Assumes your current monthly rent could be fully redirected toward home loan repayments.

  • Uses a principal and interest repayment structure only.

  • Assumes a fixed interest rate for the entire loan term you select.

  • Assumes no changes in your income, rent, expenses, interest rates, or personal circumstances.

  • Uses a standard amortising loan formula to estimate the loan amount that matches your rent.

  • Assumes a 30 year loan term by default, but allows user adjustment.

  • Assumes an 80 percent loan to value ratio, meaning the purchase price is calculated using a 20 percent deposit.

  • Does not factor in lender assessment criteria, credit score, living expenses, liabilities, or lending policy.

  • Results are illustrative only and not an indication of actual borrowing power or loan approval.

Borrowing power refers to the amount a lender may allow you to borrow based on your income, expenses, debts, and financial situation. It’s an estimate and can vary between lenders.

No, the borrowing calculator provides an estimate only. This estimate would include any existing loans you have. The final amount will depend on a lender's assessment of your full financial situation, including their specific lending criteria.

Approval times can vary between lenders. Generally, pre-approval can take a few days, while full approval may take one to two weeks once all documents are provided. We handle the process and keep you updated every step of the way.

Let’s get started on your home or investment goals today.

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Residential Property
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Your local mortgage broker for Newstead, Bowen Hills, Fortitude Valley, Herston & Brisbane's central business district.
The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
S&M Brokering Pty Ltd trading as Smooth Path Finance ABN 29681866482 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192

Steve Carmody is a credit representative (564495) of LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.

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Loan type: Asset finance

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