Interest Rate: this is the quoted APR a bank charges the borrower. If the loan amount is above 80% of the appraisal then PMI is required until the loan is paid off enough to where the Loan-to-value (LTV) is below 80%. Loan Amount: the amount a borrower is borrowing against the home.
This is used in part to determine if property mortgage insurance (PMI) is needed. ~ Not all brokers or advisers offer the products of all lenders or solution providers.Home Value: the appraised value of a home. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Different amounts and terms will result in different Comparison Rates.
WARNING: This Comparison Rate applies only to the example or examples given. # The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years. * Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, the product may not include all the features relevant to you, and not all products are available in all states and territories. You can obtain a copy of the PDS by emailing or by calling 13 77 62. If any financial product has been mentioned, you should obtain and read a copy of the relevant Product Disclosure Statement and consider the information contained within that Statement with regard to your personal circumstances, before making any decision about whether to acquire the product.
MORTGAGE CALCULATOR PAYOFF PROFESSIONAL
Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. It should not be relied upon for the purposes of entering into any legal or financial commitments. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. This website has been prepared without taking into account your objectives, financial situation or needs. The information provided on this website is for general education purposes only and is not intended to constitute specialist or personal advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments. The results from this calculator are an approximate guide only and do not constitute specialist advice. Rates and repayments are indicative only and subject to change. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.ĭisclaimer - Loan Repayments: The lowest interest rate from our lender panel is either standard variable or 3-year fixed for an owner-occupier. Loan repayments are based on the lowest interest rate (either standard variable or 3-year fixed rate, owner occupier) from our lender panel over a repayment period of 30 years. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.ĭisclaimer - Borrowing power: The borrowing amount is a guide only.
The results from these calculators are an approximate guide only and do not constitute specialist advice. Our mortgage brokers will sit down with you to discuss the right loan period for your circumstances and help to evaluate hundreds of loans from a wide choice of lenders to find the option that suits your needs. Check out our fortnightly repayments calculator or get in contact with a Mortgage Choice broker to find out how repayment frequency can impact the length of your loan. Keep in mind that the more frequent your repayments, the more interest you are likely to save over the life of your loan. This calculator requires you to input your home loan amount and your repayment frequency - monthly, fortnightly or weekly - to calculate the estimated length of your loan. You’ve done your research regarding how much you can afford to borrow and what you want to buy, but you want to know how long it will be until you see the light at the end of the tunnel? Purchasing a home is a substantial commitment and our mortgage time calculator can give you an estimate of how long it will take you to be mortgage-free.
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