Split Loan Calculator

Find the winning combination between a fixed and variable rate for your home loan. 

What is a split loan?

A split loan is when you divide your original home loan in into several smaller loans totalling to the original loan amount. Lenders usually offers borrowers the flexibility to split a loan into in a personalised fashion, such as 80% variable and 20% fixed rate. This can work well during uncertain financial times because you will have the benefit of certainty with your loan repayment from a fixed rate loan and have access to features that is only available in a variable rate home loan.

FAQs about this Calculator

  • Is having a split loan right for you?

    Lenders usually offers borrowers the flexibility to split a loan into in a personalised fashion, such as 80% variable and 20% fixed rate. This can work well during uncertain financial times because you will have the benefit of certainty with your loan repayment from a fixed rate loan and have access to features that is only available in a variable rate home loan.

    The calculator gives you quick results that allow you to make an informed decision regarding a split loan. If you are unsure how to structure your split loan, you can speak to one of our mortgage specialists today.

  • How to use the split loan calculator

    The split calculator is easy to use and all you need to do is enter your information and let our calculator do the math for you. You will need to have some of the home loan information handy.

    • Loan amount
      The loan amount refers to the amount of money you have borrowed or the outstanding loan balance

    • Fixed portion
      The percentage of the loan amount that you wish to fix for

    • Fixed Period
      This refers to the length of time your loan is fixed for. Most lenders will allow borrowers to fixed from 1 year to 5 years.  

    • Fixed Interest Rate
      The interest rate you will be fixed at for a specific fixed period

    • Variable interest rate
      Once your fixed period expires, your loan will revert to the lender’s standard variable rate at which you repay the loan

    • Loan Terms
      This is referring to the amount of time you have to repay the loan with usual loan term ranging from 25 to 30 years

    • Repayment frequency
      Refers to how often you will be making your repayments and is typically either monthly, fortnightly or weekly.

    Once you put all the relevant information in, the calculator will help you work out the total monthly repayments on the split loans during the fixed period and your new loan repayment once your fixed period expires.

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