Generally, people
find the math of loans or mortgages complicated and avoid calculating
the facts prior to applying for a home loan. However, buying a house
is a big expense and making a payment is an important thing that you
have to commit for many years to come. Therefore, calculation of your
current income, expenditure, and find the details about monthly
repayments matter a lot before applying for a loan.
The calculation
process has become easier with the introduction of free mobile apps
based on Home Loan Calculator
that can be downloaded on Android as well as iOS based Smartphones. A
home loan calculator is an important tool that helps the users to
determine the monthly repayment of loan by simply entering the total
loan amount, repayment period on monthly, quarterly or yearly basis
and the rate of interest. One such app is
“Loans Calculator for Australia”
that is available free cost on Google Play Store and iTunes, with
features like Personal Loan Calculator, Car Loan Calculator, Home
Loan Calculator and Stamp Duty Calculator.
Things you can do
with this app -
- For calculation of home loan, a user needs to enter Loan Amount, Term (Years), and Interest rate.
- It will automatically calculate the repayment amount on fortnightly, weekly, monthly and yearly basis.
- Moreover, the information about the rate of interest paid and Principal paid also displayed on the screen of the app.
- This app provides the complete information about the repayment amount on weekly, monthly, quarterly and yearly basis.
- Apart from calculations, the app features stamp duty, fees and charges specific to Sydney, Canberra, Melbourne, Brisbane, and Perth.
- It offers state wise comparison of stamp duty along with the contact details of state revenue offices.
- The app also has an option to send an email to share the calculation report.
The app is developed
by Loans Direct,
a group of financial experts in Australia serving from last 8 years
in the matters related to loans and mortgages.
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