Split Loan Calculator

Our calculator can assist you in determining the best way to split your house loan.
Frequently Asked Questions
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What is a split home loan?
A split house loan isn't really a loan; rather, it's an interest rate structure in which one component of the loan is fixed while the other is variable. Before finalising the purchase, there are a few crucial features of a split house loan to consider. It is not necessary for the split to be straight down the middle. You can choose to have half of your mortgage fixed and half variable, or even 60% fixed and 40% variable. It's entirely up to you how you structure it. You may need to achieve the correct balance between the freedom of a variable interest rate and the security of a stable interest rate because they are two sides of the same coin. 

How do I use Split loan calculator?
The interest rate you're charged will have a big impact on how much you pay back on your mortgage. A lower interest rate on your mortgage can save you thousands of dollars over the course of your loan. When determining how to split a house loan, the Split Loan Calculator from Your Mortgage can help you decide whether you want to lean more toward a fixed rate, a variable rate, or neither.
You will need to enter the following information to use the Split Loan Calculator.
- The Loan Amount
- The Loan term
- The Repayment frequency
- The Fixed portion of loan
- The Fixed term
- The Fixed rate
- The Variable rate
How can you tell if a split loan is right for you?
When it comes to evaluating if a split home loan is best for you, it all comes down to the numbers. In an ideal world, you'd know how much money you'll save in interest if you split it and whether a fixed or variable interest rate is better.
The calculator is a good place to start, but borrowers should consult a trained and professional mortgage broker or financial consultant for expert guidance on which choice is best for them.
If you decide to split your mortgage, a specialist can help you decide which amount should be fixed rate and which should be variable rate. It's critical to comprehend the advantages as well as the drawbacks of each loan sorts.
Why should I split my home loan?
Splitting your home loan allows you to take advantage of both a variable and a fixed rate loan while minimising the risks. Having a portion of your home loan secured in a fixed rate means that your repayment schedule will be secure and predictable, and any rate hikes will not affect this rate. The component of your mortgage with a variable rate, on the other hand, allows you to maintain some flexibility, and if the regular variable rate falls, you can take advantage and save money. In other words, if interest rates rise, you won't be hit as hard. At the same time, you won't be kicking yourself if the interest rate lowers.
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