Mortgage Comparison Calculator
Compare up to three Australian home loans side by side, factoring in introductory rates, fees and extra repayments, to reveal the true total cost of each.
Loan A
Loan B
Loan C
Your results
Full comparison
| Loan | Repayment | Total interest | Total fees | Total cost | Payoff (months) | Vs cheapest |
|---|---|---|---|---|---|---|
| Loan A | $2,838.95 | $597,992.28 | $500.00 | $598,492.28 | 360 | $19,430.15 |
| Loan B | $3,127.53 | $625,910.64 | $500.00 | $626,410.64 | 360 | $47,348.50 |
| Loan C | $2,965.68 | $578,562.14 | $500.00 | $579,062.14 | 360 | $0.00 |
Calculation breakdown
- Repayment simulation
- Period-by-period balance reduction, switching from intro to ongoing rate once the intro period ends
- Total cost
- Total interest + upfront fee + (annual fee ÷ periods per year × number of periods)
Assumptions
- Each loan is simulated period by period, capturing the switch from an introductory rate to the ongoing rate.
- Repayments are recalculated at the ongoing rate so the loan still fully amortises over its original term.
- Extra repayments are applied consistently every period for the life of the loan.
How this calculator works
The advertised interest rate is rarely the full story when comparing home loans — introductory rates, upfront and annual fees, and how quickly you make extra repayments all affect the total amount you'll pay over the life of the loan. This calculator simulates up to three loans period by period, switching each one from its introductory rate to its ongoing rate at the point you specify, and recalculating repayments so the loan still fully amortises over its original term. It totals the interest paid, upfront and annual fees, and combines them into a total cost figure for each loan, then highlights the cheapest option and shows exactly how much more the others would cost by comparison. Because lenders frequently adjust rates and fee structures, use current figures from each lender's website or a broker when comparing real offers, and remember that features like offset accounts, redraw flexibility and portability can be worth paying a little more for depending on your circumstances.
Frequently asked questions
Why does an introductory rate loan sometimes cost more overall?
A low introductory rate only applies for a limited period before reverting to the ongoing rate, which is sometimes higher than a loan with no introductory discount at all. Comparing total cost over the full term reveals which loan is actually cheaper.
Should I always choose the loan with the lowest total cost?
Total cost is a strong starting point, but features like an offset account, redraw access or the ability to split the loan can be worth a small cost difference depending on how you plan to use the loan.
How are extra repayments handled in the comparison?
Extra repayments are applied consistently every period for the life of each loan, reducing the balance faster and cutting the total interest paid, which the calculator reflects in each loan's total cost.
Results are estimates only and are not financial, tax, legal or credit advice.