| Most people in Australia, while keen to purchase a first | | | | The other benefit of a mortgage calculator is its ability |
| home or investment property, are often unsure about | | | | to determine how much faster you can repay your |
| how much they are able to borrow. A mortgage | | | | loan if you are in a position to either: |
| calculator is a quick and easy way to determine your | | | | (i) make a regular additional payment â for |
| borrowing capacity in Australia. A mortgage calculator | | | | example you might increase the minimum repayment |
| will generally be quite easy to use and will provide you | | | | required under your mortgage by $100 per month. The |
| with the amount you can borrow and the monthly | | | | mortgage calculator will show you how this can |
| interest compounding and monthly payments against | | | | significantly reduce the term of your loan. |
| that loan amount. | | | | |