Property Investment company Opes Partners just released a new property investment calculator. The Mortgage Calculator allows property investors and first home buyers to calculate their mortgage repayments.
Opes Partners Managing director, Andrew Nicol, says “The best place to start when looking to purchase a property is how much the mortgage will cost you every week, fortnight or month.”
“The calculator uses an amortisation table to work out how much you have to repay each week, fortnight or month to completely pay off the principal of the loan and all of the interest.”
“When using the calculator, your mortgage repayment, whether it be weekly, fortnightly or monthly, is probably what you are most interested in. It is also the most self-explanatory. It’s the amount that you’re going to pay each period.”
Nicol is clear to say that “this version of the mortgage calculator is the first version, not the forever version, and we intend to clearly show the cost of a mortgage more clearly in the future.”
(Source)