Frequently Asked Questions
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What are the benefits of using a mortgage repayment calculator?
A home loan repayment calculator will assist you in comparing the expenses of obtaining a mortgage and estimating your monthly payments. Knowing what your monthly (or fortnightly or weekly) repayments would be will help you determine whether the loan is something you can afford and what the total cost of the loan will be over the course of the loan period.
What is the purpose of the mortgage repayment calculator?
The mortgage calculator on Your Mortgage takes into account a number of criteria to determine how much your recurring repayments will be over the course of the loan term.
How can I pay off my debt more quickly or save money on it?
Find a loan with a lower interest rate.
Make additional repayments.
Increase the frequency of your repayments.
What effect do interest rates have on mortgage payments?
Your interest rate will fluctuate over the term of your loan in response to changes in the official cash rate or at the lender's discretion. Any change in the interest rate has an effect on your mortgage payments. If your interest rate is raised, you will pay more on your loan, and if it is lowered, you will pay less.