Loan repayment calculator

Loan repayment calculator – Use the Atomic Home Loans Loan Repayment Calculator to calculate your loan repayments. Simply input your loan amount, the interest rate, repayment frequency and the term of the loan to work out what your repayments will be each week, fortnight or month.

This loan repayment calculator will give you a good idea of how much you can afford to repay each week based on your personal after-tax income. Once you know how much a loan will cost you, you can work backwards to figure out if it’s manageable for you or not.

Using this loan repayment calculator will also allow you to compare your repayments based on different loan amounts and different interest rates. If you adjust the loan amount along with the interest rate, you will find that with a lower interest rate you can afford to borrow more. Conversely, a higher interest rate will mean you can afford to borrow less.

This loan repayment calculator is ideal if you need to quickly calculate how much the loan repayments will be for a particular property. Remember, if you are buying a property and have a deposit, be sure to deduct this deposit from the purchase price in order to calculate the loan amount required.

This loan repayment calculator will also allow you see how much you will pay in interest overall relative to your initial loan.

You can also enter any fees applicable to your loan, such as monthly account keeping fees, and discover their long term impact. Note the effect even $5 a month in account keeping fees will have on the amount you paid back overall.

Additionally, the graph on the right hand side provides an illustration on the outstanding loan in relation to the remaining years. As you can see, the majority of the loan balance is paid out in the last seven to years of the loan term.

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