Loan Calculator
Download a more detailed Loan Calculator by clicking here.
Loan Calculator, The calculator allows
you to check several aspects of loan qualification.
Step 1 - enter estimated purchase
price
Step 2 - enter deposit available, adjusting the deposit you have
or need to save indicates the property value you are able to purchase.
The calculator adjusts the loan amount
necessary to complete the purchase. The costs mentioned are standard
costs that apply when purchasing a house and may vary for specific circumstances.
The Loan to Value Ratio section indicates
loan value compared to property value. LMI refers to Lenders Mortgage
Insurance, typically the higher the ratio the more expensive the insurance
premium. Other restrictions also apply, so please contact Peter for
further clarification.
The Loan Details section
allows you to change interest rates and payment methods to model your
loan affordability.
This calculator should
be used as a guide only as other criteria are taken into account when
lenders assess an applicant's ability to repay a loan.
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