Mortgage Justice Solutions

Seek 'Justice' for ALL consumers of finance

Mortgage Justice Solutions Pty Ltd (‘MJS’)

ACN 165 130 834

ABN 66 557 313 251

Australian Credit Licence Number: 448272

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Calculator

Loan Calculator / Simulator

If required, the following calculator in the following format (subject to potential updated versions) will be available for use in our confidential discussions.

Input

How to Use: Enter a value in all YELLOW cells.

Original Loan

Loan Information
Total Loan Amount
Loan Term (in Years)   Years
Balloon Payment at End of Loan
Total Payment
Total Interest Paid
Loan Term Reduced (in Years)
Interest Saved
$500,000.00
30
$0
$1,065,180.84
$565,180.84
0.75
$23,435.45
Variable Rate Loan Information
Variable Loan Amount
Variable Loan Annual Interest Rate
Variable Loan Repayment Frequency
Variable Loan Term (in Years)
Interest Only Term (in Years)
I/O Scheduled Repayment
P/I Scheduled Repayment
$500,000.00
5.88%
12
30
0
$0.00
$2,959.29
Fixed Rate Loan Information
Fixed Loan Amount
Fixed Loan Annual Interest Rate
Fixed Loan Repayment Frequency
Fixed Loan Term (in Years)
Interest Only Term (in Years)
I/O Scheduled Repayment
P/I Scheduled Repayment
$0.00
6.78%
12
5
0
$0.00
$0.00
Original Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$1,065,180.84
$565,180.84
30.00
Original Variable Rate Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$1,065,180.84
$565,180.84
30.00
Original Fix Rate Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$0.00
$0.00
0.00

Proposed Optimization

Offset Account Information
Offset Account Balance at Start $5,000
Offset Top-up Information
Top-up Frequency
Fortnightly Top-up
Commencement Year
Pay off Loan using Money in Offset
26
$0.00
2
Yes
Variable Rate Loan Information
Variable Loan Amount
Variable Loan Annual Interest Rate
Variable Loan Repayment Frequency
Variable Loan Term (in Years)
Interest Only Term (in Years)
I/O Scheduled Repayment
P/I Scheduled Repayment
$500,000.00
5.88%
12
30
0
$0.00
$2,959.29
Fixed Rate Loan Information
Fixed Loan Amount
Fixed Loan Annual Interest Rate
Fixed Loan Repayment Frequency
Fixed Loan Term (in Years)
Interest Only Term (in Years)
I/O Scheduled Repayment
P/I Scheduled Repayment
$0.00
6.78%
12
5
0
$0.00
$0.00
Proposed Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$1,041,745.39
$541,745.39
29.25
Proposed Variable Rate Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$1,041,745.39
$541,745.39
29.25
Original Fix Rate Loan
Total Payment
Total Interest Paid
Years to Pay off Mortgage
$0.00
$0.00
0.00

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Summary

Press the “Summary” button to update this page after you have done the information input.
Item Repayments Interest Term Savings
Original Loan $1,065,180.84 $565,180.84 30.00 $0.00
Variable Loan Interest Rate $1,065,180.84 $565,180.84 30.00 $0.00
Variable Loan Repayment Frequency $1,065,180.84 $565,180.84 30.00 $0.00
Fixed Loan Interest Rate $1,065,180.84 $565,180.84 30.00 $0.00
Fixed Loan Repayment Frequency $1,065,180.84 $565,180.84 30.00 $0.00
Offset Account Start Balance $1,041,745.39 $541,745.39 14.62 $23,435.45
Offset Regular Top-up $1,041,745.39 $541,745.39 14.62 $0.00
Offset Occasional Deposits $1,041,745.39 $541,745.39 14.62 $0.00
Lump-sum Repayment $1,041,745.39 $541,745.39 14.62 $0.00
Total Savings $23,435.45

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This calculator can be adapted to most loan types (subject to the calculators inbuilt assumptions, some of which have been outlined below) and has been developed to establish:
Loan Term (Years to Pay off Mortgage)
Loan Repayment
Total Payment
Total Interest

The calculator is based on the following main (not limited to) assumptions and disclaimers:

Assumptions

  • One year is assumed to have 364 days.
  • The loan interest is calculated daily and debited to the loan account on a monthly basis in accordance with the most current common practices by Australian lending institutions.
  • The offset top-up is assumed to be credited into your offset account on the first day of a fixed period, either, monthly, fortnightly, or weekly.
  • The initial variable Interest rates input do not change for the life of the loan.
  • If a fixed interest rate or interest only payments is chosen, then these will be factored into the repayments for the chosen time period and will then revert to a variable interest rate principal and interest loan for the remainder of the loan term.
  • It does not take into account any applicable up-front fees.
  • It does not factor your ability to be able to make the repayments generated.

Disclaimer

  • The calculator is a model only. The amounts and repayment periods should be considered as an estimate only, where actual amounts could be higher or lower.
  • The results generated are based on information that has been provided and does not necessarily take into account your own circumstances.
  • It does not intend to be your only source of information when making a financial decision.
  • Use of this calculator does not guarantee in any way that you will be eligible for a loan. You will need to satisfy the respective lender’s own lending requirements.

As this calculator is currently unavailable for use directly online please call ‘MJS’ on either (03) 9939 7927 or mobile 0417378399 to arrange a confidential discussion on exploring how this calculator can be utilized in demonstrating the potential BENEFITS to your existing or new lending requirements (subject to the calculators inbuilt assumptions and disclaimers outlined above).