mortgage calculator with lump sum payment

#Mortgage calculator with lump sum payment full

In practice, repayment amounts can change for a variety of reasons. We assume that this repayment amount is payable for the loan term. only your initial repayment amount is calculated.interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case in practice).your annual interest charge is divided equally over 12 monthly payments (in practice, interest is calculated daily and charged monthly which can lead to your interest charge varying between months).We make the following assumptions about repayments: Interest and repayments: The displayed total interest payable is the interest for the loan term, calculated on the entered interest rate.an interest only rate which, in practice, will only apply for a limited period after which a different rate will apply.

#Mortgage calculator with lump sum payment full

Interest rates: We assume that the rate you enter, is the rate that will apply to your loan for the full loan term even if you choose:.

Loan term and loan amount: We assume the loan term and loan amount are what you enter into the calculator.

We have made a number of assumptions when producing the calculations including:

The figures are based upon the information you put into the calculator. The figures provided should be used as an estimate only, should not be relied on as true indication of your home loan repayments, or a quote or indication of pre-qualification for any home loan product. Pty Ltd ACN 161 358 363 | Australian Financial Services Licence and Australian Credit Licence 515843Įxtra & Lump Sum Payment Calculator Assumptions: Different terms, fees or other loan amounts might result in a different comparison rate. Warning: this comparison rate is true only for this example and may not include all fees and charges. *The Comparison rate is based on a $150,000 loan over 25 years. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%.