Compare Two Loans

Compare any two home loans in the market and determine which is the cheapest in total fees and interest over the life of the loan. This loan comparison calculator will let you compare different introductory interest rates and terms, with different ongoing interest rates.

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Compare and Assess Over 400 Home Loan Deals

Email us now to assess your options for FREE and find the home loan that is right for you from over 400 home loan products.

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Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.

Calculator Assumptions

Length of Month

All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days’ interest dependent on the number of days in the particular month.

Number of Weeks & Fortnights in a Year

One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.

Rounding of Amount of Each Repayment

In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount will be a partial repayment as required to reduce the loan balance to zero.

Amounts of Totals Payable under each Loan

The website calculator quotes Total Amounts Payable under each loan that are rounded to the nearer dollar, after basing the calculations on unrounded repayment amounts.

Amount of Saving under Lower Cost Loan

The calculation of the amount of repayments saved under the lower cost loan is based on unrounded payment amounts. The amount saved is quoted in dollars and cents, not rounded to the nearer dollar.

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More information and home loan help

For more information on how and where to find a better home loan deal from an extensive panel of Australian banks and secure mortgage lenders, or to speak to your local area mortgage expert, contact us on 13 LOAN (direct +61 2 9249 3739)