Mortgage Calculator
Important notice: All computations are for illustrative purposes and do not constitute advice or a guarantee of a loan approval.
Take Control of Your Mortgage:
Reduce Costs and Accelerate Ownership
As you can see from the extra repayment calculator, even finding $25 dollars/week can help you accelerate your mortgage payoff. That’s after 5 years of paying the set amount. And surely you can see that every slight increase can have a big impact on your loan.
Even more than that, you could consider changing your repayments to fortnightly or weekly repayments. Plus, you can throw your tax refund or work bonuses into your home loan too. The great thing is, it all adds up and reduces the total interest you pay over the life of your loan.
Things to Keep In Mind Around The Extra Repayment Calculator
It’s important to know the terms of your mortgage. Here’s why… if you have a fixed home loan, the lender may have a limit to the extra repayments you can make before they charge you additional fees. They may also have a policy around whether you can redraw those repayments. That’s why it’s important to know these details before you make extra repayments.
At The Property Education Company, we would be happy to answer all your questions about home loans. Simply book an appointment to talk to us today.
Got home loan questions? We've got answers!
