The Mortgage Calculator in Australia - Part 1

Many easy to use mortgage calculators in Australia are available online today and these will answer many of your mortgage related questions, be it how much you can borrow, how much your repayments will be and the effect of additional repayments.

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In Australia a mortgage calculator may even compare different home loan options available for you.

When using a mortgage calculator to ascertain how much you can borrow it should be used as a guide only. The result will give you a general idea of your borrowing potential and therefore what sort of property you can start hunting for!

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In conjunction with this you may also wish to use another loan calculator which can work out your approximate monthly repayments due. The calculated results can assist with your personal budgeting and help you decide how much you believe you can afford to borrow given your personal circumstances.

The repayment loan calculator can also help you compare different scenarios such as possible rate increases, the difference between paying weekly, fortnightly or monthly instalments or the effect on repayments given different loan terms.

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Though the standard loan term in Australia is 25 - 30 years a shorter term can be taken - the mortgage calculator lets you know how much your monthly repayments will increase if you choose to take a shorter loan term.

Another useful tool is the 'Extra Repayments' calculator. This will show the effect of additional repayments being made over the term of the loan. The mortgage calculator will show you that if you make additional or extra repayments you will can substantially lower the interest paid over the life of the loan and also have your home loan paid off a lot quicker.

Given there are so many loan products available, if you are looking for finance in Australia today, a mortgage calculator can be a very effective tool when weighing up your financial/budgeting options.

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. Visit Austral Mortgage at http://www.australmortgage.com.au

Selling Then Buying A House - A Winning Strategy

By Amanda Searle

We are all aware of the recent changes in the real estate market. Due to the high number of homes for sale, days on the market have been increasing. This calls for an adjustment in your strategy if you are planning on selling your home and purchasing another home.

A year or two ago, it may have been possible to find the house you wanted and then list your house for sale. In today's market however, putting your home for sale should be your first step. Once your home is on the market, start researching the market in the area you want to buy in.

Once you get an offer on your house, then start looking at homes for sale. This strategy ensures that you find a house when you are in a position to purchase, rather than finding that perfect house and making an offer, but being unable to sell your own home in time. It also ensures that your offer price on your new house is as realistic as possible because you know how much your former home is going to sell for.

Remember, it doesn't cost anything to enlist a Realtor to market your house, a Realtor only gets paid if the house sells. If you are thinking about moving, remember the first step could be to get started marketing your current home for sale and then, shopping for a new home once you have a contract on your present house.

amanda@intownjacksonville.com

Home Selling 101 - To Re-Carpet or not to Re-Carpet

Home Selling 101 - To Re-Carpet or not to Re-Carpet

How fresh Paint and Carpet can make a home sell for MORE $$$