A newly developed Mortgage Offset Calculator has been released and you can download for free. This free mortgage offset calculator is built to answer the following questions:
- How much interests you can possibly save if you use an mortgage offset account and top up the offset account on a regular basis, i.e. monthly, fortnightly, or weekly?
- How long does it take to repay your home loan mortgage by using mortgage offset?
This Mortgage Offset Calculator is different from other offset calculators on the market whether free or not – it has lots of functions that other offset calculators do not have. With this offset calculator, you can:
(1) choose home loan repayment frequency, i.e. weekly, fortnightly, or monthly;
(2) vary mortgage terms from 1 to 30 years;
(3) specify a start balance of the offset account;
(4) specify the offset account top-up frequency, i.e. weekly, fortnightly, or monthly as well as change top-up amount. The top-up frequency can be different from the home loan repayment frequency;
(5) change home loan interest on a daily basis. No other offset calculator allows you to change interest rate;
(6) input occasional withdrawal from the offset account on a daily basis;
(7) input occasional deposit to the offset account on a daily basis.