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Calculators - Loan Amount
The amount of money you would like to borrow.
Calculators - Loan Rate
The ongoing interest rate of the loan the lender is offering.
Calculators - Advanced Options
Allows you to include other costs of your loan such as fees, interest-only periods and potential penalties for early repayment. This gives you a better idea of the potential repayments than the rate alone does.
Calculators - Loan Term
Over how many years would you like to repay your loan? Generally the maximum term is 30 years.
Calculators - PMT
The total amount you can afford based on the numbers you’ve given.
Calculators - Annual Rate
The interest rate you would you expect to pay.
Calculators - Loan Term
The loan term is the number of years that this loan is expected to be paid out within. The Loan Term is usually a flexible figure that may be modified at a later stage with your banking consultants, but to establish a projected loan amount this value must be entered. Generally 30 years is the default loan term.
Calculators - Advanced Options
Advanced Options allow you to include other costs of your loan such as Fees, Interest Only Periods and potential penalties for early repayment that will allow you to determine what your real repayments are (not simply relying on the rate).
Calculators - Loan Term
For how many years would you like to repay your loan over. Generally the maximum term lenders offer is 30 years.
Calculators - Loan Amount
Loan Amount is the amount of money you would like to borrow from the lender.
Calculators - Loan Rate
Loan Rate is the ongoing interest rate of the loan that the lender is providing you.
Calculators - Ongoing Fees
Also known as service fees, these are charged on an ongoing - rather than a one-off - basis, usually monthly or yearly.
Calculators - Exit Fee
Paid when you either pay out your loan in full or discharge the security. Can be payable irrespective of whether you’ve paid the loan out early or not.
Calculators - Establishment Fee
Also known as Application Fees, this is what the lender charges to set up your loan. They’re generally only payable once at the start of the loan. Can include fees for completing property valuations, preparing documents and attending settlement.
Calculators - Early Payout
Payable if you repay your loan before the expiry of any fixed rate that you may have. These are often in addition to any ‘economic costs’ associated with breaking the fixed rate.
Calculators - Interest Only Period
The length of time you want to pay the interest only and not the principal (ie what you’ve borrowed). Generally a maximum of 5 years.