Use our Mortgage Stress Calculator to see how refinancing to a lower rate can ease your financial burden.
Simply enter your household income, and your monthly mortgage repayments below.
20%
30%
60%
Stress free zone
Danger zone
Stress zone
Your mortgage payments are
of your pre-tax income
Pre-tax monthly income:
$0
Monthly repayments:
$0
Pre-tax monthly balance:
$0
The mortgage stress bar shows visually how close you could be to experiencing mortgage stress.
Calculator Assumptions and Disclaimers
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
Our calculator estimates your risk of mortgage stress by taking the following steps: Breaking down your household’s annual income into approximate monthly income by dividing the total by 12.
Comparing your entered monthly repayment to your approximate household monthly income.
Displaying the result as a percentage on the table (results 30 per cent or higher are assumed to be deemed mortgage stress).
All calculations are estimates only.
These calculations are only accurate for the information entered, and do not take into account future changes to you/your household income, your home loan interest rate, or your mortgage repayments.
Results are calculated based on pre-tax income and do not take any other living expenses into account.
Some people on high incomes may be comfortable paying 30% or more on housing or some people may have a savings plan in place that allows them to make them comfortable taking on a larger debt.
The calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances.
Fortify Loans Pty Ltd (ABN 51679738786 and Credit Representative Number 546469) is authorised under Australian Credit Licence 384324.
*Individual lenders may charge fees to the customer.
This website provides general information only. Our content does not constitute legal, tax or financial advice and has been prepared without taking into account your objectives, financial situation or needs. You should always consider whether any loan or financial decision is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product.
All applications are subject to lender assessment and approval. Cashback offers may be provided by some lenders and may only be available for particular products, terms and conditions apply.
Any information provided does not constitute an offer of credit and are examples of what may be available to you based on the information available. It does not take into account any product features or any applicable fees. Lending criteria and the basis upon which we assess what you may be able to afford may change at any time without notice. For Fixed Rate home loans, break costs may be payable which can be significant if you change the whole or part of your fixed rate loan or where additional or early repayments are made during the fixed rate period.
In the spirit of reconciliation, we acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.
