Using PIAFpu for home loan / planning for new PPOR

Hey guys,

I was just wondering if anyone has had much success with the initial setting up of PIA software with home loan information.

I know how to put in the house value, interest rates and growth

Is there any way to input an offset account?

Also, If I am planning on buying a new PPOR in a few years, is there any way to make it calculate the right stamp duty etc for a PPOR of do you have to change around other values to make it work?

Thanks for any help you can give

John

 

Hi John,

There is no offset account option in PIA. Depending on what you have planned for those monies you keep in that offset account, a simple workaround in PIA would be to specify those monies as a lump sum payment and redraw them when you need them.

You should keep in mind that PIA was designed as a modelling tool to help you better understand the impact of various financial options on your cash flows. If you want to see just how fast you might be able to repay a home loan, you can choose the Credit Line option which directs all cash flows through the one account. As I understand it, an offset account simply lets you offset the interest earned on your own cash against the interest accruing on your loan. From a modelling perspective you would still need to decide how the loan is to be repaid.

Which brings me to your last question... PIA is not about planning for your future PPOR purchase (most banks/lenders will help you with that). It is about helping you plan your investment property future and if that means repaying the loan on your PPOR first, it will certainly help you examine ways of doing that as well.

If you have specific questions about what you are trying to do, I recommend taking advantage of the Support Online feature in PIA (see Help menu) as it will generate an email addressed directly to me and will attach the file you are working on. It will make it a lot easier for me to help.

Kind Regards