Mortgage Switching Calculator in Australia
Using the mortgage switching calculator will help you to save money and manage your mortgage in the years ahead. Visit us today to know more!
If you have an existing home loan or investment loan, you may be wondering whether your home loan interest rate is still competitive. Our mortgage switching calculator can help you calculate whether refinancing your home loan will result in saving money.
Completing the mortgage switching calculator is simple to complete once you have some key data.
Information you will need about your existing home loan:
- Current loan amount
- Current interest rate (check accounts details in internet banking)
- Remaining loan term
- Repayment frequency
- Regular monthly fee (if you pay an annual fee, divide it by 12)
Information you will need about the new loan:
- Introductory rate & term (if there is one otherwise leave blank)
- Standard interest rate (this is the new interest rate)
- Upfront switching costs (leave as $1,000 although it should be lower)
- Regular fee (if there is a monthly or annual fee for the new loan, be sure to enter her)
Once you have this information, completing the Mortgage Switching Calculator is easy. Once you have entered all information, you will be shown three scenarios:
- Scenario 1 : If you did nothing – your current monthly payment and remaining interest and fees
- Scenario 2: If you switch and then make the minimum repayment for the new loan
- Scenario 3: If you switch and keep your repayments the same – this is where the magic happens.
Edgeview Finance are an experienced mortgage broking firm. We have helped our clients save thousands of dollars per year in interest of their loans. It all started with a request a Free Home Loan review. A home loan review provides you with an in-depth analysis of your options. Request yours today.
Mortgage Switching Calculator for Home Loan
Your mortgage may have been competitive when you first took it out. However, the interest rates don’t always remain competitive. Thinking of switching your mortgage? Then, why don’t you use our mortgage switching calculator in Australia? Edgeview Finance is the reputed hub that makes your financial life sorted. We provide you a genuine tool to compare the cost of switching your mortgage and save you making the wrong decision. Our calculator will give you accurate and prompt results when you compare the cost of switching mortgage here.
The tool is designed to help you work out your savings when you are planning to switch to another lender. In fact, you will understand how you can make the repayments easy to afford when you use our calculator. With us, you will get the best deals that don’t only fit your budget but also keep your financial life on track. With this calculator, you can conveniently see how much money you can save. Moreover, you can easily decide whether the interest rates are affordable for you or not. Use our calculator to find the estimated cost of switching your mortgage today or connect with us to have a finance broker calculate your savings.