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Rent or buy calculator

Renting but looking to buy?

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.
$
%
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.
At Viewpoint Finance Group, 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 Australia, we can guide you through your options and make the next step clear and achievable.

Next steps

Ready to take the next step toward your property goals? Whether you’re planning to buy, refinance or invest, our team at Viewpoint Finance Group is here to help. Book a chat today and we’ll walk you through your options with clear, practical advice tailored to your needs.
shawn gower mortgage broker at viewpoint finance
Shawn Gower
Principal / Senior Mortgage Broker

Calculator FAQs

  • Income and Expenses: The calculator assumes the income entered is accurate and does not factor in living expenses or existing debts, which lenders will assess separately.

  • Interest Rate and Loan Term: A default interest rate of 5.5% and a 30-year loan term are used unless adjusted. Changes to these inputs will affect the results.

  • Repayment Capacity: The calculation assumes up to 30% of your gross monthly income is allocated to loan repayments.

  • Indicative Only: Results are estimates and may vary based on individual lender policies and criteria.

  • Purpose: This tool provides general guidance only and is not a substitute for personalized financial advice or a lender’s assessment.

Calculate my borrowing power

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.

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A better view of your financial future

Viewpoint Finance Group provides mortgage and finance broking services to clients in Coomera, Ormeau, Hope Island, and surrounding Gold Coast suburbs. We support individuals, franchise owners, and businesses with lending solutions across home loans, refinancing, business and commercial finance, SMSF lending, asset and car loans, and construction finance. While we are locally based, we work with clients Australia-wide through a simple and streamlined process, offering personalised advice and ongoing support at every stage.
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This website provides general information only and has been prepared without taking into account your objectives, financial situation or needs. Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. Gower Family Trust (ABN 12159008419) t/as Viewpoint Finance Group with Credit Representative Number 563877 is authorised under Australian Credit Licence 517192. Shawn Gower with Credit Respresentative Number 563964 is authorised under Australian Credit Licence 517192.
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Loan type: Residential property

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