Dec 16 2017, 07:24 PM
QUOTE(AznRicy @ Sep 22 2017, 07:36 AM)
I hav a house loan
Duration = 30 years
Loan amount = 443 220 (89%)
Monthly pay = 2200
Outstanding = 416 000
Advanced paid = 40000
Pay since Oct 2012 = 4 years (2200 x 48 months) = 105 600
My question is how is the Outstanding calculated?
Interest around 4.3% I think.
Can someone please explain how does the calculation work?
Has the outstanding Minus off Advanced?
Or when Advanced > Outstanding = Fully Paid?
There’s bunch of home loan app calculators, I use “My Home Loan Calculator”. There’s a section that shows how much is deducted for your principle and interests each month. However, it’s still an estimate, best to check with your banker. They should provide yearly statements.Duration = 30 years
Loan amount = 443 220 (89%)
Monthly pay = 2200
Outstanding = 416 000
Advanced paid = 40000
Pay since Oct 2012 = 4 years (2200 x 48 months) = 105 600
My question is how is the Outstanding calculated?
Interest around 4.3% I think.
Can someone please explain how does the calculation work?
Has the outstanding Minus off Advanced?
Or when Advanced > Outstanding = Fully Paid?
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