Mortgage Calculator
Welcome to the Mortgage Calculator! This calculator can help you calculate your monthly mortgage repayments, maximum loan amount, and home loan repayments.
Usage:
- Enter the loan amount in the "Loan amount" field.
- Enter the interest rate per year in the "Interest rate" field. The interest rate should be entered as a percentage, e.g. 5.5 for 5.5% per year.
- Enter the loan term in years in the "Loan term" field.
- Click the "Calculate" button.
- The calculator will calculate and display the monthly repayments, maximum loan amount, and home loan repayments in the corresponding fields.
- The "Monthly repayments" field shows the estimated monthly mortgage repayments based on the loan amount, interest rate, and loan term you entered. 7. The "Maximum loan amount" field shows the maximum loan amount you can borrow based on the estimated monthly repayments and loan terms.
- The "Home loan repayments" field shows an estimated monthly repayment for a home loan that is 25% higher than your mortgage repayments. This can help you budget for other expenses such as property taxes, insurance, and maintenance costs.
Mortgage Calculator
Note: This calculator provides estimates only and should not be used as a substitute for professional financial advice. Always consult a financial adviser or mortgage broker for personalised advice on your specific situation.