repayment calculator

Hi everyone,
Just have a quick question on working out mortgage repayment amounts. Every mortgage calculator i look at gives me a different amount as a weekly repayment. Does anyone know of an accurate and easy way to workout mortgage repayments so i can do my sums when looking at properties ?

What repayment are you trying to calculate interest only or principal & interest repayments ?

Remember lenders calculate repayments monthly just a matter of you doing the division thereafter.

Cheers

Yours in Finance

Richard Taylor - richard@tayloredfinancialsolutions.com.au Tel: 07 3720 1888
Residential Mortgage Broker providing structured home loan advice for investors and owner occupiers all over Australia.
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I use broker software but this link does the trick - http://www.infochoice.com.au/calculators/home-loan-calculator/

The only difference should be whether it's P&I, IO and the term.

Cheers

Jamie

Pass Go Home Loans Pty Ltd - Australia wide Mortgage Broker
www.passgo.com.au | info@passgo.com.au | p. 1300 656 299 | PO Box 286 Woden, Canberra ACT 2606
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I would like to work out both. I will start with an interest only loan but I would like to know how much rent would need to charged to eventually cover the principal aswell.

You can work out interest only on a calculator.

Loan amount x interest rate = interest payable per annum

Divide interest payable per annum by 12 to work out monthly repayments or 52 for weekly.

Cheers

Jamie

Pass Go Home Loans Pty Ltd - Australia wide Mortgage Broker
www.passgo.com.au | info@passgo.com.au | p. 1300 656 299 | PO Box 286 Woden, Canberra ACT 2606
Expand your due diligence – "like" Pass Go on FACEBOOK and get up-to-date IP info www.facebook.com/PassGo