Use the Atomic Home Loans introductory rate loan calculator to work out what happens to your loan with an introductory or ‘honeymoon’ rate with our online introductory rate calculator.
Introductory rates are fairly popular offers made by lenders to attract new customers by providing very competitive rates for a certain period of time.
These introductory rates, or honeymoon rates, can save you a lot of time and money on your home loan, but they can also cost you a lot of money if you don’t manage them properly once your introductory period has ended. This is where some people get it wrong.
This Introductory rate loan calculator is fairly simple to use. By inputting your loan amount, loan term and repayment frequency, along with the details of the introductory offer such as the introductory rate, introductory period, and the variable interest rate on the loan, you can work out what your repayment will be during the introductory term.
The results provided by this introductory rate loan calculator will also show you what your variable term repayment will be. This is the payment you will be required to make once the introductory period is over.
Additionally, this introductory rate loan calculator will also show you a comparison of the total interest payable with the introductory loan rate and introductory period, and also the total interest payable if the loan was only at the variable rate the whole time.
The difference between the two is the savings you will experience by having the introductory rate for the introductory period.
It is important to realize that once your introductory period has ended, you will likely be switched over to a higher interest rate.
At this point, you need to review your home loan and consider negotiating with your existing lender, or switching to a new lender. Otherwise, all the savings experienced during the introductory period will be diminished over the remainder of the loan term.See All Calculators