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Mortgage Comparison

Description: This calculator calculates the monthly payments and outstanding loans for two different mortgages, taking account of different interest rates and fees, so that a comparison may be made between them. Note that the 'Comparative Total Cost' figures shown include an allowance for the incidence of payments (eg paying 1,000 all up-front is considered to cost more than paying 1,000 evenly over a period, due to the time-cost of money) - this is why the 'Comparative' figures differ from the sum of the 'Total paid during period' plus the 'Outstanding Loan Amount at end'.

INPUTS:

Mortgage Loan Amount :-

Mortgage 1:

Initial Interest rate (%) :-

Initial Period (in years) :-

Subsequent Interest rate (%) :-

Fee(s) paid Upfront :-

Fee(s) Added to Loan :-

Repayment or Interest-only? :-

Total Term (in years) :-

Mortgage 2:

Initial Interest rate (%) :-

Initial Period (in years) :-

Subsequent Interest rate (%) :-

Fee(s) paid Upfront :-

Fee(s) Added to Loan :-

Repayment or Interest-only? :-

Total Term (in years) :-

RESULTS:

	Mortgage 1	Mortgage 2

Initial Monthly payments :-	0	0
Subsequent Monthly payments :-	0	0

Shorter Initial Period:
Total paid during period :-	0	0
Outstanding Loan Amount at end of period :-	0	0
Comparative Total Cost as at end of period :-	0	0
Comparative Total Cost as at start of period :-	0	0

Longer Initial Period:
Total paid during period :-	0	0
Outstanding Loan Amount at end of period :-	0	0
Comparative Total Cost as at end of period :-	0	0
Comparative Total Cost as at start of period :-	0	0

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