Person 1 Details
Person 2 Details
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Calculate Button
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Grant, Income, and Savings Calculations
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Including savings and any grants
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Mortgage Calculations - GROUP 1
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Formula: (P * (0.0545 / 12)) / (1 - (1 + (0.0545 / 12))^(-1 * 30 * 12)
Key: P = Loan Amount (variable)
r = Interest Rate (5.45%)
t = loan term (30 years)
n = number of payments per year (12)
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Group 1 Annual Occupational Costs include: mortgage payments, rates, and body cooperate costs
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Mortgage Calculations - GROUP 2
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For Group 2 Programs, Shared Ownership Share (20% of property value) is subtracted from the mortgage
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Formula: (P * (0.0545 / 12)) / (1 - (1 + (0.0545 / 12))^(-1 * 30 * 12)
Key: P = Loan Amount (variable)
r = Interest Rate (5.45%)
t = loan term (30 years)
n = number of payments per year (12)
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Group 2 Annual Occupational Costs include: mortgage payments, rates, and body cooperate costs
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Mortgage Calculations - GROUP 3
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Calculating the share of the property owned by Bridge
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50% of the property value is subtracted from the loan amount for Group 3 Programs
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Formula: (P * (0.0545 / 12)) / (1 - (1 + (0.0545 / 12))^(-1 * 30 * 12)
Key: P = Loan Amount (variable)
r = Interest Rate (5.45%)
t = loan term (30 years)
n = number of payments per year (12)
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Group 3 Annual Occupational Costs include: mortgage payments, rates, body cooperate and ground lease
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Max Income Threshold Brackets
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Results
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This rating system assists with conditional logic for calculations. With a rating of 1 meaning they don't qualify (income is over max threshold), 2 meaning they could qualify (percentage of affordability does not meet requirements yet) and 3 meaning it seems they do qualify (percentage of affordability conditions are met).
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This rating system assists with conditional logic for calculations. With a rating of 1 meaning they don't qualify (income is over max threshold), 2 meaning they could qualify (percentage of affordability does not meet requirements yet) and 3 meaning it seems they do qualify (percentage of affordability conditions are met).
This field is hidden when viewing the form
This rating system assists with conditional logic for calculations. With a rating of 1 meaning they don't qualify (income is over max threshold), 2 meaning they could qualify (percentage of affordability does not meet requirements yet) and 3 meaning it seems they do qualify (percentage of affordability conditions are met).
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GROUP 1 PROGRAMMES
Freehold with No Assistance
First Home Loan
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GROUP 2 PROGRAMMES
First Home Partner
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GROUP 3 PROGRAMMES
Secure Home
Secure Home + First Home Loan