* An automated valuation model estimate (AVM Estimate) is a statistically derived estimate of the value of the subject property. At the end of the fixed rate term, the interest rate will roll onto our standard variable home loan interest rate, unless a new fixed rate term’s selected and then the fixed rate is determined two business days before the end of the fixed term. The fixed rate lock-in fee is 0.10% of your loan amount. ^^Rate Lock: We’ll apply the fixed rate available on the loan settlement date or the date your fixed rate term starts, unless you lock a fixed rate on your loan using our Rate Lock feature. Try out our repayment calculator, exploring different loan terms and types of loan structures to see what may work for you.
Keep in mind that there may be fees and other charges added to the total payable amount, such as Lenders Mortgage Insurance. If interest rates change, or your loan type changes – say from variable to fixed – or if you have a feature such as an offset account, our system will keep track of these changes and update the monthly direct debit. This is divided by the total months in your loan term to get to your monthly repayment amount. Our repayment calculator takes into account how much you need to borrow, the loan term (for example 30 years), and then calculates the interest charge based on which loan structure you choose.įrom there, it can work out based on the loan principal plus the interest what the total figure it is you need to pay over the loan term.įor example, if you borrowed $500,000, and your total interest charge was $350,000 over 30 years, then the total amount payable would be $850,000.
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