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Payment per Thousand Financed

Input Information
Loan Information
Amount : (R)
Interest Rate : (%)
Length : (Years)
Additional Information
App. Fees and Stamp Duty : (R)
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Financial Analysis (Switch to Plain English)
Total Fees and Stamp Duty R1,200.00
Total Monthly Payments R483,139.46
Total Cost of Loan R484,339.46
Monthly Payment per Thousand R5.38
Annual Payment per Thousand R64.58
Lifetime Payment per Thousand R1,937.36
Plain English Help (Switch to Financial Analysis)

When taking out a mortgage loan, you might be interested in knowing how much money you are actually paying for every thousand dollars you borrow. The amount you pay for every thousand dollars will change depending upon the total amount of your loan.

Letís say you borrow R250,000.00 on a 30 year loan at 5.000% interest. With this amount being borrowed, you would pay a total of R484,339.46 for the loan. This means you will pay R5.38 each month for every thousand dollars borrowed. Every year, you would pay R64.58 per thousand dollars financed. Throughout the life of the loan, this would mean you have spent R1,937.36 for every thousand dollars.

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