Investors who think about satisfying the mortgage sooner than what is stipulated in the mortgage agreement could use Smart Property Investment's principal and interest calculator.
This is used to ascertain the length of time required to advancing the mortgage repayments before the completion of the mortgage, as well as allowing investors to know just how much of their principal and how much of their interest they are paying off each month.
The total value of the loan applied for in a loan agreement.
The amount of interest due per period, as a proportion of the amount loaned, deposited or borrowed.
The percentage of loan amount to be apportioned to a fixed interest rate.
The number of month or years wherein the amount of loan is to be under a fixed interest rate.
Extra Payments per Month
The amount the investor plans to make above the stipulated repayment amount in a loan agreement in order to fulfill the loan.
Number of Years
The stipulated duration of the loan agreement, in years.
Interest to Date
Amount derived from the total of all interest payments from the start of the loan agreement until the last repayment made in the current month.
Principal to Date
Amount derived from the total of all principal payments from the start of the loan agreement until the last payment made in the current month.
Amount derived from the difference from all repayments made from the total amount borrowed as stipulated in the loan agreement from the start of the loan agreement until the last repayment made in the current month.
The information provided by the principal and interest calculator is intended to provide examples based on stated assumptions and inputs entered and are meant as estimates. It is advised that you consult with your mortgage broker about your specific circumstances, as well as figuring out if there are any other loan features that could affect total payable values.