We understand it is important for clients to calculate their loan repayments, so you can use this home loan calculator to determine the repay you’ll need to make in each repayment period.
Please note that this mortgage calculator is intended to just be a guide and shouldn’t be taken as a true indication of your loan repayments or as a quote of pre-qualification for any loan type we may offer.
This refers to the original principal or total mortgage loan given to you by your lender. The loan amount is often not the total purchase price of the home, as your lender will most likely ask you to make a down payment on the property price of the home. A 20% deposit is desirable by most lenders. So, the loan amount will most likely represent 80% of the home purchase price. If your deposit is lower than 20%, you’ll be required to make higher monthly payments.
This is the length of time or the number of years you’ll repay your mortgage
This is the monthly percentage added to your mortgage payment. It’s also the money your lender charges on the loan amount.
This refers to how often you’re required to make regular repayments. Most borrowers prefer to make their loan repayments monthly. However, you can choose to make your payments using a different period, such as fortnightly or weekly, if it’s more convenient for you.
This mortgage calculator is here just to give you an idea before speaking to one of our qualified advisers. So, if you need extra guidance, click Contact Us, and our mortgage adviser will get in touch with you to discuss your results in detail.