Best Mortgage Broker Suggests 5 Home Loan Calculators - Nfinity Financials

Best Mortgage Broker Suggests 5 Home Loan Calculators

By: Nfinity Financials0 comments

When you become a first home buyer, several calculations and equations are going on in your head. It’s probably one of the most significant decisions of your life so far. You want not just to be cautious, but also thorough while going through those calculations to have the perfect abode for yourself. This is when utilising online calculators and getting in touch with the best mortgage broker in town, becomes essential.

Calculating a mortgage is an essential step in that process, a significant part of the equation. It is a calculation on which everything else depends, it’s better to do it beforehand. Given below are a few steps that will help you calculate your home loan repayment with ease. Check out our various home loan calculators and know the best loan repayment path for you: 

1: How much will be your mortgage repayment:

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How much will be your mortgage repayment? Do you have any idea? Well, it’s okay if you don’t – yet. The essential function of the online home loan calculator or loan repayment calculator is to help you get an idea of your mortgage repayment breakdown. It has several options, including a comparison rate calculator

These calculators help you select:

  • Your loan type (owner-occupier/investment) 
  • Repayment type (principal and interest/interest only) 

This helps you to know the average interest rate applicable to you depending on these two fields. 

You can then enter:

  • The amount borrowed 
  • The interest rate applicable to you at the time of calculation
  • Repayment frequency
  • Length of loan 
  • Fees and fees frequency. 

Once you have estimated your home loan repayment breakdown, you can start with the home buying process with our best mortgage broker. At Nfinity Financials, we assess and understand your needs to develop the best mortgage solution for you. 

Please find out more with our loan repayment calculator:

2: Know your borrowing power:

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What is your borrowing power, or – how much money can you borrow as a first home buyer? The borrowing power calculator helps you know your borrowing power by entering instalments of your choosing. 

You can enter: 

  • An affordable repayment amount 
  • A convenient repayment frequency (yearly/quarterly/monthly/fortnightly/weekly)
  • Interest rate 
  • Length of the loan (in years) 
  • Fees and fee frequency (yearly/quarterly/monthly/fortnightly/weekly) 

Then, the calculator tells you the maximum amount of money you can borrow at the given interest rate along with the number of years. Additionally, the comparison rate calculator helps you compare alternative mortgages if the interest rates rise in the future. So that you can plan and be compliant. 

Check out our borrowing power calculator and know your borrowing power here:

Check out our comparison rate calculator and compare alternative mortgage paths here:

3: How to repay your home loan sooner:

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How can you repay your home loan sooner – this question can bug you as a first home buyer. Besides what it does primarily as a mortgage repayment calculator, the online home loan calculator is also a friend in disguise. It helps you know how soon you can repay your loan and get rid of one more responsibility while ultimately owning every nook and cranny of your house, even if you make a lump sum payment that is greater than your mortgage repayment. 

You can enter: 

  • The amount you owe
  • The repayment instalment
  • Repayment frequency (yearly/quarterly/monthly/fortnightly/weekly)
  • Interest rate 
  • Fees and fees frequency (yearly/quarterly/monthly/fortnightly/weekly)

Then, the calculator will give you an estimate of the time it will take for you to repay your home loan. Just like the borrowing power calculator, you also have the option to compare alternatives in case the interest rates fluctuate in the future. 

Check out our ‘How Long to Repay’ calculator and learn how soon you can pay your mortgage here:

4. Mortgage Switching Calculator:

As the name suggests, amongst the various calculations that an online home loan calculator can assist you with, there is also the option of comparing the cost of switching your mortgage. This calculator gives you a comparative analysis. For example, the comparison rate calculator of switching to another mortgage predicts the cost recovery period of changing and how higher repayments can be more beneficial for you in such a case. With this, you can enter your current loan details in the required fields. Then, compare them with your new loan so that you can make your mortgage repayment easier for yourself. 

Check out our mortgage switching calculator and know the details of switching your mortgage here:

5. Plan your monthly spending with the best mortgage broker:

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When you have a good idea of how much your mortgage repayment would be, you can be prepared and ready to plunge into the ocean of satisfaction that would visit you when you own a home. You can hear the waves crashing at your doorsteps while you quickly set up your monthly domestic finances and expenditure and manage everything else with ease. There’s nothing better than the feeling of being utterly carefree with not a single worry in the world, knowing everything you cherish and value has been taken care of because of your intelligent decision-making and our best mortgage broker.

While an online home loan calculator or a comparison rate calculator is a fantastic tool to assist you in the home buying process, you should understand that it’s a model working on arithmetic calculations and simple assumptions based on current trends.

The loan calculator is not a predictive tool. It is only there to give you an estimate of your mortgage repayment. It does not guarantee that you will get a loan of your choosing with the specified interest rates and fees. But if you use it smartly, it can help ease and shorten the whole process of home buying and mortgage repayment.

With Nfinity Financials, you get one of the best mortgage broker in your area. Your home buying process is smooth and hassle-free. To know more about getting a loan, dial 1300 GET LOAN (1300 438 562) or click here:

 

 

 

 

 

 

 

 

 

 

 

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