The calculator can be a lifesaver for home buyers looking to save money.
It can help them to understand the mortgage terms, calculate the cost of the property and compare interest rates to lenders.
However, it also contains some useful information that can help the buyer make an informed decision.
The calculator includes all the key terms of the mortgage, and includes a breakdown of the loan amount, interest rate, payment terms, payment options and loan repayment schedule.
Here are some of the key facts to consider before you start your mortgage:What are the interest rates?
Interest rates are set by lenders, so the calculator may not give a direct comparison.
However lenders may set interest rates that are lower or higher than the calculator.
It is important to understand that interest rates may change on a daily basis.
Interest rates may fluctuate in real terms over time, so it is important that you get accurate information before you begin your mortgage.
The more detailed the mortgage data, the more accurate the calculator will be.
Are the home loan repayments guaranteed?
All home loans are covered by the Home Loan Guarantee scheme, which guarantees a minimum amount of repayments from the lender.
The guarantor must pay the loan back on time, with no default or delay.
The lender is responsible for the repayment, and it is up to the guarantor to pay the interest and fees.
If you have any concerns about the accuracy of the information on this page, please contact the lender directly.