The ooba bond amortization calculator will give you a picture of how much your loan reduces by every month, over the full period of the loan. You can determine how much of your instalment goes towards interest and how much towards reducing the actual loan amount.
Sometimes home owners decide to fix the interest rate on their home loan for an initial period of time. If this is the case for you, you can also include this in the calculation, as well as the base rate and term for the remainder of the home loan period. The calculator will give you a result based on this combination of factors.
You will know exactly how much you spend on your home loan every year, how much of that money will go towards interest and how much will be used to reduce capital debt.
The ooba group subsidiaries Property Protector Financial Services and ooba Administration Services are Authorised Financial Services Providers (FSP No’s: 216 & 46293)