This mortgage calculator is designed to help you work out how long it will take to pay off your mortgage and how much you will pay, including interest.
Why is that important??
Well in NZ now most people are taking out 30 yr mortgages and if you have a quick look at how much interest you pay back you will notice that it is probably the same amount as what you originally borrowed…..that’s right you borrowed $600,000 and you will pay back over $1,200,000.
You can’t pay back less than what you borrowed, that must be paid back, but you certainly don’t need to pay back the same amount again in interest….that is something you can control.
Use the calculator and see how much difference paying an additional $100 per week off your mortgage will do…. pretty amazing isn’t it.
We develop strategies for our clients that help them pay their mortgages off faster based on their situation so everyone will get a different result however on average we save our clients over $100,000 in interest which I think you will agree is enough reasons to sit down with one of our consultants and see how much we can save you.