Line of Credit Savings Calculator

Significant amounts of money can be saved through using a Line of Credit. This approach ensures that every spare cent that you earn goes towards paying off your home loan. By doing this, you are not only paying off more than your minimum repayment, but it also reduces the amount of interest you are being charged. This can result in tens of thousands of dollars saved. Use the calculator below to get an estimation on the amount of money you can save.

Enter your loan information into the following form to get an estimation on the amount of money that you could save on your loan. Please note that this is only an estimation. It is based on a standard monthly expense for the cost of living per adult and per child.

Loan Amount
Loan Rate		%
Loan Term		years
Total Income		/ month
Other Loan Repayments		/ month
Number of Adults*
Number of Children#
Amount you could save $
Time you could save		years months
If you would like more information on how a Line of Credit can work for you, please contact your Sorcom Home Loans Manager.
♣This calculation is based on the assumption that extra repayments from surplus income over expenses are made to the loan on a monthly basis and are not withdrawn in the future. It should be used as a guide only * The values we have used to calculate monthly expenses are $1200 per month of the first adult and then and additional $400 per month per additional adult. # The values we have used to calculate monthly expenses are $400 per month per child..

These calculators and the resulting calculations do not constitute a loan application, loan offer or loan approval.