Estimate your future mortgage payments
The Finance Company's mortgage repayment calculator is your easy-to-use tool designed to help you estimate potential monthly mortgage payments for your property financing needs.
Whether you're buying your first home, refinancing your current mortgage, or simply want to evaluate "what-if" scenarios, our calculator provides personalised estimates you can use for financial planning.
Why use our mortgage repayments calculator?
Understanding your mortgage repayments is the first step toward responsible property ownership. Use our mortgage repayments calculator to:
• Estimate your monthly repayments based on loan amount, interest rate and term
• Experiment with different scenarios to find the most suitable payment plan
• Plan your budget effectively and avoid any surprises down the road
At The Finance Company, we understand that navigating mortgages can be complex.
Our mortgage repayment calculator empowers you to:
• Estimate your potential monthly mortgage payments under different term scenarios
• Compare monthly costs across different monthly terms
• Benefit from our experienced bridging finance team
• Calculate finances for property values and loan amounts to scale your portfolio
• Receive tailored insights based on your financial situation
• Making your property transition seamless
• Experience a user-friendly calculator that ensures simplicity in your planning
Having transparency into hypothetical repayment terms allows you to make informed financing decisions as you weigh mortgage options.
Frequently asked questions:
The components of your monthly mortgage payment depend on the type of mortgage you have:
- Interest-only mortgage - With an interest-only mortgage, your monthly payments only cover the interest charges due each month. You are not paying down the principal loan balance during the interest-only period
- Principal and interest mortgage - For a standard principal and interest mortgage, your payments go towards both the interest owed each month and paying down the principal loan balance. This pays off the loan over the full term
A shorter loan term generally results in higher monthly payments but lower overall interest costs, while a longer term may have lower monthly payments but higher interest costs.
Some lenders allow you to change your payment frequency, but it's essential to clarify this with your lender as they might not allow you to make any changes.
You can reduce monthly payments by looking to remortgage onto a lower interest rate, making a larger down payment or extending the loan term.
While our repayment calculator provides estimates based on information you provide, remember to consider additional costs like maintenance, building insurance, utilities and other fees associated with homeownership.