Products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. To view these documents you may need Adobe Acrobat. Use this home equity calculator to see how much you might be able to borrow from your home equity (the value of your home above what you still owe on your loan). Here’s an example of how it could look: if your property is valued at 100,000 and your owe 40,000 on your mortgage, your current equity would be 60,000. Before making any decision in relation to our products you should read the relevant Terms and Conditions booklet and Fees and Limits Schedule, available at or by calling 133 464. Home equity is calculated by subtracting the amount of money still owed on a property from the property’s fair market value. The calculators are provided by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823.Īny advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. The loan amount is based on the difference between the homes current market. Any application for credit is subject to ING's eligibility and credit approval criteria. Disclosure: Information and interactive calculators are made available to you only as self-help tools for your independent use and are. Home equity loans allow homeowners to borrow against the equity in their homes. If you wish to apply for a loan please call us on 1800 100 258. The formulae used within these calculators may change at any time without notice. The Rental Yield Calculator gives an indication of the annual income on a rental property and gearing status, based on the client specific parameters entered such as weekly rent, purchase price, loan details and property expenses. Property Reports are to be used as a guide only. Prior to loan approval ING may conduct a valuation completed by an IBAL accredited valuer of your property and our valuation may be different. The Equity Calculator gives an indication of the amount of equity available in a property, based on the parameters entered, namely property value and current loan balance. ING recommends you seek independent financial advice. Any advice given is general advice only and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. The results do not take into account your personal circumstances and should not be relied upon for the purposes of making a decision in relation to a credit or financial product. The output of each calculator is subject to the accuracy of the inputs and the assumptions of each calculator. The Equity Calculator and Rental Yield Calculator is not an offer of credit and is an approximate guide only. Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
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