Use the home loan comparison calculator to quickly compare home loans based on loan term, interest rates, fees and payment frequencies to accurately compare two loans.
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Please note that the calculations provided in the above loan comparison calculator are not a quote or pre-approval. Your actual interest rate and repayment amount will depend on various factors, including all information that is provided by you in the assessment of your application.
What is a loan comparison calculator used for?
A loan comparison calculator tool can help you figure out what loan suits you best. Consistently checking your home loan and comparing with other home loans can potentially save you thousands of dollars of the life of the loan. Using a calculator helps you compare loans more accurately rather than just comparing interest rates, payment frequencies and fees can influence the attractiveness of a loan too.
How to use the home loan comparison calculator
Input the loan amount for Loan #1, along with the associated fees, interest rate, and whether there is an introductory rate or honeymoon rate. Repeat the same process for Loan #2 and compare loans.
You should also consider other aspects not included in the loan comparison calculator, such as offset accounts, extra repayments and redraw facilities. Remember that interest rates change over time so it is important to keep this in mind and regularly complete a loan 'health check'.
Choosing the right home loan for you
Regularly checking the health of your home loan is vital to ensuring you are getting the best deal for you at anytime. Your personal circumstances are likely to change over time, as do home loan products.
This article is general in nature and does not constitute personal advice. Consider the Target Market Determination to see if this product is right for you. Seek professional financial advice to determine what best suits you.