Tuesday, 8 July 2008
The Mortgage Calculator in Australia provides a good guide as to how much you can borrower on a loan. If you are in the market for a mortgage you may choose to use the services of a mortgage consultant or a mortgage manager and one of the first tools they will use is a Mortgage Calculator.
There are three different types of Mortgage Calculators in Australia:-
• Mortgage Calculator to borrower money on residential home loans
• Mortgage Calculator to borrower money for personal loans
• Mortgage Calculator to borrower money for commercial/ business loans
The Mortgage Calculator in Australia also provides other benefits:-
• The Mortgage Calculator in Australia can determine the repayment amount required to repay your loan over a length of time - For example Loan Amount: $150,000, Term of Loan: 30 years, Interest Rate: 8.00%, Monthly Repayment $1089.93 per month
• The Mortgage Calculator in Australia can determine the repayment on different frequencies. Monthly repayment, fortnightly repayment and weekly repayment
• The Mortgage Calculator in Australia provides an interest rate benchmark on qualifying the loan at a higher interest rate. The Mortgage Calculator determines that the borrower can repay the loan at the current rate, but can also determine that the borrower can comfortably make repayments on the loan if there are any future interest rate rises.
• The Mortgage Calculator in Australia can determine how quickly you can pay out your mortgage, by paying extra money into your mortgage, on a monthly, fortnightly or weekly basis.
In Australia you can find many various Mortgage Calculators on the internet.
Most of the Mortgage Calculators perform the same job, that is: determining what you can borrower on the financial income that you input into to the Mortgage Calculator.
To sum up, Mortgage Calculators in Australia have been provided to work out which loan best suits your needs. A Mortgage Calculator is simple to use and allows you to test different scenarios so you can determine the best way to manage your home loan repayments.
Vicky Edema has been the Managing Director of Austral Mortgage Corporation since 1992, the company provides an easy to use mortgage calculator and offers competitive mortgage rates. Austral's comprehensive mortgage calculators: http://www.australmortgage.com.au/mortgage-calculator-s/mortgage-calculator-s.html