This Honeymoon Rate Calculator is the calculator to use to find out details of your home loan after the honeymoon period ends. Home Loan Lenders use a Honeymoon Interest Rate to advertise a Low Interest Rate to make their home loans attractive, especially to first home buyers.
Honeymoon Rate Calculator
Just about every Home Loan Lender in the home loan lending market has an introductory or ‘Honeymoon Rate’ product. The marketing of a very low interest rate for a period of time; typically around six to 12 months is called a Honeymoon Rate.
It is critical for your budgeting though to find out and know the remaining balance and repayments on your home loan once the honeymoon period is over.
This Remaining Balance Calculator, or often called Honeymoon Rate Calculator will show you what happens after the first period of the loan ends and the new interest rate, or ongoing rate kicks in.
Simply enter the Home Loan amount you start with, and the loan term, the introductory or Honeymoon Rate, the honeymoon period, and what the Interest Rate will revert to after. Our Honeymoon Rate Calculator will then display what the new repayments will be, and if you enter the remaining balance after say 23 years, if the honeymoon period was for 12 months, you will see what the remaining balance will also be.
In these financial times it would be a good idea to also take a look at the Split Rate Home Loan calculator to see the benefit or not of having a split rate home loan.
Many people forget the Stamp Duty Australia wide that you will also need to factor into your home loan. This is one of the many Free Calculators that we have for you to help you make the best decision possible with your home loan.