The thought came to mind that if someone was renting a property, how much of a mortgage could a person have that they would cover by the rent payments.
I've now added a calculator to Mortgage Repayment Calculator where people can enter their rent payment and determine the mortgage the rent will pay for.
For example, say you're paying $400 per week to rent an apartment. If you take out a mortgage over 30 years, paying 5% interest, the rental amount of $400 per week will cover a mortgage of $323,110.
You can go direct to the calculator at https://www.justlocal.com.au/mortgagerepaymentcalculator/rent.php.
Kelvin Eldridge
Mortgage Repayment Calculator
I've now added a calculator to Mortgage Repayment Calculator where people can enter their rent payment and determine the mortgage the rent will pay for.
For example, say you're paying $400 per week to rent an apartment. If you take out a mortgage over 30 years, paying 5% interest, the rental amount of $400 per week will cover a mortgage of $323,110.
You can go direct to the calculator at https://www.justlocal.com.au/mortgagerepaymentcalculator/rent.php.
Kelvin Eldridge
Mortgage Repayment Calculator
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