NAB Mortgage Calculator Australia

NAB Mortgage Repayment Calculator

Loan Amount ($) Interest Rate (%) Loan Term (Years) Repayment Frequency Monthly Fortnightly Weekly Monthly Repayment ($) Total Interest ($)

function calculateMortgage(){ const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; const loanTerm = parseInt(document.getElementById(“loanTerm”).value); const repaymentFrequency = document.getElementById(“repaymentFrequency”).value; if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm el.value = “”); }

This NAB mortgage calculator helps you estimate your mortgage repayments based on loan amount, interest rate, and loan term. It can also show total interest paid over the course of the loan.

Mortgage Calculator Explanation

The mortgage repayment calculation is based on the principal loan amount, the interest rate, and the length of the loan term. You can adjust the frequency of repayments to suit your needs.

Example Calculation

A loan amount of $400,000 with a 5.5% interest rate over 30 years results in monthly repayments of $2,271.76 and total interest paid of $317,031.68.

Why It Matters

Understanding your mortgage repayment schedule helps you plan your budget and ensure you can meet your obligations. A lower interest rate or shorter loan term can save you money in the long run.

Smart Strategy

Consider making extra repayments whenever possible to reduce your loan principal faster and pay less interest over time.

Nab Mortgage Calculator Australia