Mortgage Repayment Calculator

Mortgage calculators allow you to calculate your mortgage repayments over the term of your home loan based on a selected mortgage rate (or as the banks call it, an interest rate!).

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Mortgage Repayment Calculator

Frequently Asked Questions

How to calculate mortgage repayments?

To calculate mortgage repayments you can enter in your home loan amount, the length of your home loan and the expected mortgage rate (or interest rate) that you will pay. The mortgage calculator will then work the rest out for you. Best thing is the mortgage calculator is dynamic so you can play around with different scenarios to do some mortgage planning.

How do I know what the interest rate is?

An interest rate will be set by the lender. An interest rate is often also referred to as a mortgage rate. Logging in to the mortgage tab in the One Click Life platform will let you know what mortgage rates are being offered. It’s free to create an account with One Click Life.

How do mortgage rates affect my mortgage?

The higher the mortgage rate, the higher the mortgage repayment. A mortgage rate is a rate of interest paid to borrow money from the bank. If interest rates rise, so does your mortgage repayment. Conversely if mortgage rate reduce, so does your mortgage repayment.

Can I repay loan early?

You can repay loan early however there may be penalties. With a mortgage as long as you are not in a honeymoon period (discounted interest rates or other benefits) then there generally is no penalty for repay loan early.

I have a mortgage, can I have lower mortgage rates?

The best way to get lower mortgage rates is to speak to either your bank to try and negotiate a lower mortgage rate, or speak to a mortgage broker. A mortgage broker can negotiate lower mortgage rates with your bank, or assist you in moving to a new bank that will provide a lower mortgage rate.

How much home loan can I borrow?

Home loan borrowing power is calculated using a number of different factors. These include your home loan deposit, your income, how long you have been employed in your current job and how much you spend (including your current rate of saving money). Each bank, or lender, how much home loan you can borrow differently, so it is best to work with a mortgage broker to work this out. A mortgage broker can obtain a preapproval for you so you know the answer to how much home loan I can borrow.

Is there a mortgage broker near me?

One Click Life mortgage brokers are always near you! We’re accessible on your mobile phone! Just create a free account at One Click Life then go to the mortgages tab and take a look around. If you’re thinking “I need a mortgage broker near me”, think One Click Life