How Long To Repay Calculator
This ‘How Long to Repay’ home loan calculator will help you find out how long it would take to repay a loan by paying different amounts.
How To Use The How Long To Repay Calculator
- Enter the $ amount of your loan in the ‘Loan Amount’ section
- Enter the interest rate you can get in the ‘Interest Rate’ section. If you’re unsure what rate you can get ask your mortgage broker
- Enter the loan repayment amount in the ‘Repayment’ section
- Select your repayment frequency (weekly, fortnightly or monthly)
- Under the ‘View your results’ section, the graph will show you how long before your loan is paid off. On the right of the graph it will show you the loan term, total interest payable and total payments
- Select the ‘Amortisation’ tab on the top right of the calculator to see a year by year breakdown of your principal, interest and loan balance over the lifetime of your loan.