Need to know how much you could save if you applied for a Split Rate Home Loan or a Combination Rate Home Loan? Try out our Split Rate Loan Calculator that allows you to enter any combination of variable and fixed rate portions for your mortgage.
How to use this Split Rate Loan Calculator
Enter your loan details
- Enter your desired total mortgage amount
- Select the percentage of your mortgage you wish to fix
- Enter your desired fixed rate
- Enter your desired variable rate, for example, a typical variable rate mortgage in the current market might an interest rate of 5.0% to 6.0%.
- Choose your loan term, for example, a typical variable rate loan in the current market might have a loan term of 25 to 30 years
- Choose whether you want to pay your mortgage Weekly, Fortnightly or Monthly
After reviewing your results from the loan calculator it could be worth looking into whether your current mortgage offers you the flexibility you need to meet your financial goals. If not, it might be time to consider your refinancing options.
If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your mortgage repayments and all associated costs.
Please call us now on 07 5593 1420 to talk with an Ocean Home Loans mortgage broker who can give you expert advice on split rate home loans & combination rate home loans or enquire online and we will contact you as soon as possible to discuss your options.
If you’re looking to purchase but are still in the early stages of house hunting and want to do some more research, try a different loan calculator:
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Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan.