Browse Forums Home Finance 1 Dec 09, 2009 11:28 pm For those that already got mortgages. how do you monitor the amount that you owe the bank/institution other than the monthly/quarterly statements that they give you? Are there any software packages out there than are designed just for this? For example, I would like to be able to know how much exactly I owe at any given time. Thanks. Oxford 22 @ Stage12a Point Cook Site Cut : 05/03/2010 Slab Pour : 24/03/2010 Frame Inspected : 06/04/2010 Pre-plaster Inspection: 22/04/2010 PCI: 16/07/2010 Final Inspection: 30/07/2010 Landscaping: who knows??? MyHomeoneThread Our Oxford22 Blog Re: how do you monitor your loan? 2Dec 10, 2009 12:31 am I'm a fan of internet banking. Shows me current balance, payments, rate increases Best thing is to give your bank/lender a call and ask them what your options are (and ask them directly about costs). I get mine free through my bank, but your mileage may vary. - Land registered 27/11/09, settlement 22/01/10 - Currently doing the rounds of display homes. Re: how do you monitor your loan? 3Dec 10, 2009 7:21 am You shouldnt need a soft ware package - I agree with Ayr, set up internet banking, any payments are shown straight away, we can make extra payment over the internet if we want to (as well as our automatic pay roll deductions), and outstanding balance is instantly shown. No cost with our credit union to do this. Re: how do you monitor your loan? 4Dec 10, 2009 7:51 am I've you're reasonable with spreadsheets, setting up the formula which calculates the repayments is a doddle. But I just use the banks internet stuff and do a sanity check every know and then. mmm....donuts Homer Simpson 1956- Links: Site Costs Ready Reckoner | H1 Addiction Medical Advice | Château TDL: The Backyard Re: how do you monitor your loan? 5Dec 11, 2009 2:16 pm You can check out http://anzmoneymanager.com/ to see if it does what you are after. It's free, you don't have to be an ANZ customer and works with most financial institutions. If you have several loans (home loan, credit card, etc) plus savings, cheque accounts spread across more than 1 bank its great as it puts all your balances and transactions in one report. Full disclosure - I work for ANZ (but not in the team that runs this site) Re: how do you monitor your loan? 7Dec 11, 2009 4:22 pm Agree it's easy to see how much you owe. But I always liked to know how much I'll owe next year and the year after that. I had a spreadsheet set up with my payments so I knew when the damn thing was going to be gone. Then I could see how much difference say an extra $20 a week would make. I love numbers. Re: how do you monitor your loan? 9Dec 11, 2009 8:45 pm The Credit Union we are with has free online banking, it shows us how much interest we have paid YTD how much we owe, what our interest rate is, everything. Yeah that I use the banks online calculators to work out how much I have to pay to have it paid off in a certain time frame. Re: how do you monitor your loan? 10Dec 11, 2009 9:36 pm Hi draco76, The Anz site sounds good. While studying financial maths at Tafe and we used a sharp financial calculator to calculate all that kind of stuff. They are easy to use. As long as you put everything in correctly it calculated: How much to pay weekly if you wanted to pay loan off in certain time, who long to pay $$ at $$ per week/month etc. Plus lots more. I wouldn't bother pulling it out of the cupboard if I was able to use a free online calculator. I'd say that most financial institutions would have a loan repayment calculator. Weekly payments are an effective type of payment compared to monthly payments. Keeping an eye on your balance via internet banking is a great idea as the bank will more than likely charge an arm and leg for monthly statements along with all the other mortgage fees that they love to charge. Have fun! PCI Done Re: how do you monitor your loan? 11Dec 11, 2009 9:43 pm thanks for all the replies.. i will look into that ANZ one.. land settled today so I officially got a mortgage Oxford 22 @ Stage12a Point Cook Site Cut : 05/03/2010 Slab Pour : 24/03/2010 Frame Inspected : 06/04/2010 Pre-plaster Inspection: 22/04/2010 PCI: 16/07/2010 Final Inspection: 30/07/2010 Landscaping: who knows??? MyHomeoneThread Our Oxford22 Blog Hi team, Im looking for a second hand sd4b monitor preferably white. 0 8923 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19097 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 39703 |