Loan Comparison Calculator
Enter common loan details
Loan details
Enter loan 1 details
Enter loan 2 details
View your results
Loan 2 will save you: $0
Loan 1
Loan 2
Initial per month
$0.00
$0.00
Ongoing per month
$0.00
$0.00
Total payments
$0
$0
Loan Balance Chart
Saved Interest and Fees
Note: The information provided by the calculator is intended to provide illustrative examples based on stated assumptions and your inputs. Calculations are meant as estimates only and it is advised that you consult with a finance broker about your specific circumstances.
Description
This calculator helps you compare two home loans by adjusting rates, fees and introductory periods. It shows initial and ongoing monthly repayments plus total payments over the loan term.
Assumptions
- Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.
- This calculator does not take into account some loan features such as redraw facilities and offset accounts etc.