Home Loan Calculator Online
This online home loan repayment calculator can be used to figure out monthly, fortnightly, or weekly repayment of a home mortgage loan, based on the home's sale price, the term of the loan, buyer's loan deposit, the loan's interest rate, loan repayment frequency, and the loan repayment type.
You need to input at least the Property Price, Loan Term, and Annual Interest Rate and then select the Repayment Frequency and Repayment Type. If you tick the "Show me the amortization" option, this home loan calcultor will generate a loan amortization schedule which will show you the Interest Paid, the Principal Paid, and the Remaing Balance for each repayment period. You can use this calculator for both Principal & Interest and Interest Only loan.
Calculator assumptions:
(1) Length of month: All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependent on the number of days in the particular month.
(2) Number of weeks & fortnights in a year: One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
(3) Rounding: The land tax is rounded to at least the nearer cent.