monthly morgage payment on $400,000
 

Can anyone give me an idea how much the monthly repayments are on a borrowed amount of about $ Au 400,000 ? I know it depends on the term say the average of 30 years? Just trying to see what we could manage?
Thanks Sunbound :thumbup:

Re: monthly morgage payment on $400,000
 

ball park figure about $800 per week give or take
but i guess someone will give a more accurate figure

Re: monthly morgage payment on $400,000
 

:eek:

Re: monthly morgage payment on $400,000
 

you could try going on a site like realestate.com.au and using their mortgage calculator, they give you an idea of what the payments would be. you may have to have a look at the rates though, as with any new mortgages different companies have different deals.
bec

Re: monthly morgage payment on $400,000
 

Just go onto westpac.com.au, click on home loans, then calculators. That will give you a good idea as all the big banks fix their prices between them and interest rates don't vary much between them;)

Re: monthly morgage payment on $400,000
 

Re: monthly morgage payment on $400,000
 

That was interest rates were at arond 7.50, now being in the nines I would suggest around 900 per week.

Re: monthly morgage payment on $400,000
 

Bankwest's mortgage payment calculator says:

$400,000 at 8.6% (their current variable rate) over 30 years:
- weekly: $715.90
- fortnightly: $1,432.05
- monthly: $3,104.05

Link: http://www.bankwest.com.au/library/h...oan_Repayment/

Don't forget that you may want to add insurance in case you die, are sick, or lose your job. Depending on the level of cover you want that could add another $200 per month.

Gina

Re: monthly morgage payment on $400,000
 

I'm with Bankwest and we borrowed $270,000. We pay back $2,200 a month.

Re: monthly morgage payment on $400,000
 

Also Infochoice have some mortgage calculators:

http://www.infochoice.com.au

Ready reckoners get published in the Real estate supplements of most newspapers too.

Re: monthly morgage payment on $400,000
 

Thanks guys , thats given us a good idea, and what we can budget to !!
Thanks :thumbsup:

Re: monthly morgage payment on $400,000
 

Out of all the replys i think your miles out :rofl:
if you try westpac its an average of 740 not inclusive of
insurance Speak to your lender :D

Re: monthly morgage payment on $400,000
 

:eek::eek: I thought 800 was bad enough!!!!!!!

Re: monthly morgage payment on $400,000
 

Surely the length of time you r borrowing and the type of morgage (affects interest rate!) you have requested are important. :confused:

Re: monthly morgage payment on $400,000
 

Type of mortgage - YES
Length of time - Only for fixed reates