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If you’re wondering, “what is the best way to estimate and calculate my repayments?”, an online repayments calculator is generally a good place to start. While the home loan calculator repayments are based on your inputted loan amount, frequency of repayments and type, there are other factors you need to consider when it comes to taking out a home loan and estimating your potential repayments. Some of these include:
At Qudos Bank, we have multiple home loan options available. Whether you’re looking to buy your first home, invest in a property, build a new home, renovate your property or refinance an existing loan, we can help you choose the right loan. Learn more about our options and compare home loan rates online.
When you take out a loan to buy a home, you’ll need to pay that money back over a certain amount of time, this is called a home loan repayment. Usually, home loan repayments involve periodic payments to the lender, which generally include interest and principal.
Use our online repayments calculator to get a better idea of how much you may be looking at repaying.
This depends on the lender. Fixed rate loans generally prevent or limit extra repayments during the fixed rate period.
When applying for a home loan, there are two main repayment options to choose from — principal and interest repayments or interest-only repayments. These are the main differences between them:
When you take out a home loan, you usually have two choices — a fixed interest rate or a variable interest rate loan. These are the main differences between the two: