![]() When assessing ability to service a loan, Heritage may use an interest rate that is higher than the current interest rate for the loan requested. Early repayment costs may apply if you repay the loan early during a fixed interest rate period. If a Variable Rate Loan is selected, the interest rate will be subject to change throughout the term of the loan. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term, which may change the calculations. The repayments are based on monthly contractual repayments and are adjusted to produce the approximate weekly or fortnightly amount.Īll interest rates referred to in the calculators are current and are subject to change. In practice, repayments are rounded to at least the nearer dollar.Ĥ. This implicitly assumes that a year has 364 days rather than the actual 365 or 366 days.ģ. One year is assumed to contain exactly 52 weeks or 26 fortnights. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependant on the number of days in the particular month.Ģ. Length of months are assumed to be of equal length. ![]() Interest Only repayments are not available on Owner Occupied loans.ġ. The output of each calculator, is subject to the assumptions provided under each calculator and are subject to change.ĭifferent Conditions, Criteria and Fees apply to Investment loans. These calculations do not take into account any product features, conditions or applicable fees. These calculations do not constitute an offer of credit or a quote and are only an estimate of what you may be able to borrow based on the accuracy of the information provided. These calculations are intended as a general guide only. Different terms, fees or other loan amounts might result in a different comparison rate. Home Advantage Fixed loan comparison rate based on an LVR of 80%. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. *Comparison rate calculated on a $150,000 loan over 25 years with monthly repayments.
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