I've struggled to find and advanced Home Loan/Extra Repayments calculator and I'm not savvy enough with excel to know precicely how to formulate one myself. I have searched the forum too.
I'm wondering if anyone had made or found one, which calculates interest daily so it's extremely accurate? Leap years would need to be factored in too.
What I want, is to be able to work out EXACTLY what impact extra repayments (on any day of the loan term) will make, which is fixed for 15 years.
I'm only allowed $10,000 in extra repayments per year and I plan on investing in property as soon as it's safe to do so, so this is going to be very important in forming a plan, setting goals and experimenting with scenarios.
Loan Details - PPOR:
Any help would be greatly appreciated.
p.s. This is my first post, so hello.
I'm wondering if anyone had made or found one, which calculates interest daily so it's extremely accurate? Leap years would need to be factored in too.
What I want, is to be able to work out EXACTLY what impact extra repayments (on any day of the loan term) will make, which is fixed for 15 years.
I'm only allowed $10,000 in extra repayments per year and I plan on investing in property as soon as it's safe to do so, so this is going to be very important in forming a plan, setting goals and experimenting with scenarios.
Loan Details - PPOR:
- Started 01/10/2010
- Interest calculated daily - 8.09%
- Weekly repayments - $525.50
- Principal and interest
Any help would be greatly appreciated.
p.s. This is my first post, so hello.