![]() Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant. Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant Product Disclosure Statement (PDS), other Disclosure Documents, and Target Market Determination (TMD). over 30-years would require you to make additional payments of around 2,100 each month to cut the loan term down to 15 years. Any advice provided is general advice only and does not take into consideration your personal objectives, financial situation or needs ("your personal circumstances"). Based on Your Mortgage’s Extra and Lump Sum Calculator, an 800,000 mortgage with an interest rate of 4.5 p.a. ![]() Important: Please check your individual State and Territory for relevant grants and concessions applicable to your location. Or if you have a specific amount of extra money to put toward your mortgage each month, you can use the calculator to see how quickly you’d pay off the debt with the increased payments. Information such as interest rates quoted and default figures used in the assumptions are subject to change. Individual institutions apply different formulas. This breaks down to a payment of 500 towards interest and 99.55 towards the principal. Results do not represent either quotes or pre-qualifications for the product. For a 100,000 loan at 6 percent interest for 30 years, the monthly payment is 599.55. The results from this calculator should be used as an indication only. Please refer to your loan contract and the terms and conditions regarding additional repayments prior to making additional repayments. ![]() Different terms, fees or other loan amounts might result in a different comparison rate. WARNING:This comparison rate is true only for the example given and may not include all fees and charges. The comparison rate is for a loan of $150,000 over 25 years. The repayment amount is based on certain assumptions, should be regarded as indicative only, and is not a quote nor a pre-qualification for a home loan. Terms, conditions, fees, charges and lending criteria apply and are available on application. If we divide it by 12, the resulting amount will be 97.30. For instance, your monthly mortgage payment is 1,167.52. The following amount is the extra payment that must be applied to your principal each month. We understand the pressures that you and your family may experience during these difficult times and we work with you to find a mutually acceptable solution to aid in your overall debt management strategies and to continue to work with you to achieve your financial goals. Take the amount of your mortgage payment and divide it by 12. This is to ensure you are reasonably likely to meet the obligations you have in respect of repaying the debt and avoid experiencing financial stress.īut we recognise that situations may change from time to time which may inhibit your ability to meet your credit repayment obligations. At People's Choice Credit Union we understand that credit is a very important facility which allows you to achieve your personal, financial or lifestyle goals faster than you could if you had to rely on your savings alone.Īs a mutually owned financial institution we embrace our responsibility to understand your personal situation when we make recommendations regarding providing, extending or arranging credit for you.
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