Home
Remortgage
Bond Calculator
Apply for a loan
Contact us
Site map
Calculator for switching bonds
Use this calculator to work out if it makes sense for you to switch bonds in order to save money.
Remaining balance on your mortgage/amount to still pay:
R
Monthly mortgage payment:
R
Interest rate you are currently paying:
%
Interest rate you will be refinancing at:
%
Number of years you will be refinancing for:
Estimate the costs that will be required for refinancing, including the following if applicable:
Bond cancellation fee (usually around R1 000. Find out exact amount from your bank)
New bond registration and penalty fees
R
Summary of your current mortgage plan
Remaining balance on your mortgage/amount to still pay:
R
Monthly mortgage payment:
R
Interest rate
%
Number of outstanding monthly payments
Total interest over the remaining period
R
Summary of your refinanced mortgage plan
Remaining balance on your mortgage/amount to still pay:
R
Monthly mortgage payment
R
Interest rate
%
Number of outstanding payments
Total interest over the remaining period
R
Comparison of the two mortgage plans
Cost of refinancing
R
Number of months amortisation will be accelerated
Monthly savings
R
Number of months to break even on the costs incurred to refinance
Total refinancing savings on interest over remaining period
R
Net refinancing savings (interest savings less refinancing costs)
R
Assumptions
Yearly rates, compounded monthly.
Mortgate payments made monthly in arrears.
Refinancing costs are not included in the monthly payments.
Copyright (c) 2007 Bondsandloans.com. All rights reserved.
