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Posts Tagged ‘mortgage term’

April 30 2009

Mortgage Payment

Loan Amount (R)

Term (years)

Interest Rate (%)

Monthly Payments (R)

Notes on Using the Mortgage Payments Calculator

  1. This calculator will calculate your monthly mortgage repayment over the mortgage term.
  2. The loan amount is the amount that you intend borrowing from the bank , if you are paying a deposit the loan amount will be the total purchase price less the deposit you are going to pay.
  3. Input the required information and hit the ‘ Calculate ‘ button and you will have your answer.
  4. To clear the data you have inputed hit the ‘ Reset ‘ button.
March 19 2009

Extra Payments

Loan Amount (R)
Original Term (years)
Percentage (%)
Monthly Repayments (R)
Monthly Extra Payments (R)
The Term reduces to (years)
and your interest savings is (R)

Notes on Using the Extra Payments Calculator

  1. This calculator may be used to to calculate the interest savings and reduction in the term of your mortgage by making an extra payment every month.
  2. The first step calculates the normal mortgage payable.
  3. Input the extra payment that you can afford to pay on your mortgage and hit the ‘Calculate New Term’ button to see what your interest saving and reduction in mortgage term will be.