![]() ![]() Different terms, fees or other loan amounts might result in a different comparison rate. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. The comparison rate is based on a loan amount of $150,000 over a loan term of 25 years. To view these documents you may need Adobe Acrobat. ![]() Before making any decision in relation to our home loan products you should read the relevant Terms and Conditions booklet. The most popular and well known mortgages are 15- and 30-year fixed rate mortgages. If Pay Extra 500. This results in savings of 94,554.73 in interest. By paying extra 500.00 per month, the loan will be paid off in 14 years and 4 months. Lets see what is the effect of paying extra principal on a mortgage. There are fixed rate mortgages, fixed to adjustable rate mortgages and adjustable rate mortgages to choose from. You want to determine your 200,000 mortgage monthly payment at 5 interest and intend on repaying it over 30 years. Normal repayment Payoff in 14 years and 4 months The remaining term of the loan is 24 years and 4 months. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You decide to pay 1,000 extra once a year, that is, one extra mortgage payment a year. The offset facility is only available on the Orange Advantage home loan account when linked to an Orange Everyday account. There is no offset facility available on a fixed rate loan. Any additional payments or advanced funds are not available for redraw during the fixed interest period. You can calculate for even more variations in these parameters with our Mortgage Required Income Calculator. You should refer to the Home Loan terms and conditions for details and contact us on 133 464 for an estimate of the break costs that may be payable by you in the above circumstances. A 200k mortgage with a 4.5 interest rate over 30 years and a 10k down-payment will require an annual income of 54,729 to qualify for the loan. WARNING: If you select a fixed rate loan, break costs may be payable if, at any time before the fixed rate expires, you (1) pay out your loan, make an additional payment of $10,000 or more, or you make additional payments totalling $10,000 or more in any one-year period (with the first one-year period starting on the first day of the fixed interest period), or (2) you ask us to make certain changes to your loan including but not limited to your loan type, your repayment type, your loan purpose, your fixed interest period, the security on your property, your approved loan amount, your loan term, the borrowers on your loan or any other change that requires your loan to be re-documented. ![]() All features are not available for every type of loan. Details of these and the terms and conditions are available at or by calling 133 464. All applications for credit are subject to ING's credit approval criteria. All rates and information are correct at time of publication and are subject to change. ![]()
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