Mortgage stress calculator
Find out if your repayments are putting you at risk of mortgage stress. Get instant results and explore how MyBudget can help ease the pressure.
Estimate your mortgage stress
Simply enter your household income, and your monthly mortgage repayments below.
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.
- Enter your household income
- Add your annual pre-tax income
- If you share repayments, you can also include your partner’s annual income.
- Choose your repayment frequency
Select whether your mortgage repayments are made weekly, fortnightly, or monthly. - Enter your mortgage repayment amount
Type in your regular repayment amount based on the frequency you selected. - Calculate your result
The calculator will compare your repayments to your household income and display the percentage. - Calculate your results
Check your mortgage stress level- Stress-free zone: Less than 20% of income goes to mortgage repayments
- Danger zone: Around 30% of income goes to repayments (risk of stress)
- Stress zone: 30% or more of income goes to repayments
- Use the insights to plan ahead
The results are an estimate only and don’t account for other living expenses or future changes. If you’re in the stress zone, MyBudget can help you reduce pressure and find a sustainable financial plan. Call 1300 300 922 or contact us online.
Live your life free from money worries
- Initial 10 min chat
- Private & confidential
- Obligation-free
Your MyBudget journey begins with an initial obligation-free conversation with one of our money experts. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve.
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.
Megan & Creagh | Clients since 2018
We’ll help design a tailored debt plan that provides you relief.
- Implement practical ways to pay off your debt
- Rebuild your credit rating by paying your bills on time
- We’ll manage your debt creditors so you don’t have the stress
- We do the work that keeps your debt plan on track.
FAQs
How do I know if I’m in mortgage stress?
You’re likely in mortgage stress if:
- You’re worried about making your next mortgage repayment
- You’ve started missing or delaying payments
- You feel financially stretched even after cutting back on other expenses
- Your expenses are higher than your income
These are common signs that you may be entering or already in financial hardship.
How does the mortgage stress calculator work?
The calculator estimates your household’s monthly income (based on the pre-tax annual income you enter), compares it to your monthly mortgage repayments, and shows the percentage on a stress bar. Results above 30% are typically considered “mortgage stress.”
What if I’m experiencing mortgage stress or financial hardship?
If your repayments fall into the “stress” or “danger” zone, it may be time to review your budget, negotiate with your lender, or seek professional support.
MyBudget can help you build a personalised plan to reduce stress and take control of your finances. Call 1300 300 922 or get in touch online.
MyBudget can help you build a personalised plan to reduce stress and take control of your finances. Call 1300 300 922 or get in touch online.
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