Mortgage Comparison Calculator
Compare three Australian home loans side by side, factoring in introductory rates, fees and extra repayments to estimate interest and fee costs.
Loan A
Loan B
Loan C
Your results
Full comparison
| Loan | Initial repayment | After intro | Total interest | Total fees | Interest + fees | Payoff (months) | Vs lowest |
|---|---|---|---|---|---|---|---|
| Loan A | $2,838.95 | $3,057.26 | $597,992.28 | $500.00 | $598,492.28 | 360 | $19,430.15 |
| Loan B | $3,127.53 | $3,127.53 | $625,910.64 | $500.00 | $626,410.64 | 360 | $47,348.50 |
| Loan C | $2,965.68 | $2,997.05 | $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
- Cost of borrowing
- 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.
- The comparison ranks loans only when amount, term, repayment frequency and extra repayment match. Interest plus fees excludes repayment of the borrowed principal.
- Extra repayments are applied consistently every period for the life of the loan.
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How this calculator works
The advertised interest rate is only one part of a home loan's cost. This calculator simulates three loans period by period, switches from the introductory rate to the ongoing rate at the point entered, and recalculates repayments so the loan amortises over its original term. It combines estimated interest with upfront and annual fees as a cost-of-borrowing figure; repayment of the borrowed principal is shown separately rather than counted as a cost. A lowest-cost ranking is meaningful only when the loan amount, term, payment frequency and extra repayment are the same. Use current written lender figures and compare features such as offset access, redraw rules and break costs separately.
Compare interest and fees, not only the starting rate
Enter the same loan amount, term, frequency and extra repayment for each option, then add the introductory period, ongoing rate, upfront fees and annual fees. The calculator simulates each balance period by period and combines interest and entered fees into a cost-of-borrowing estimate. It does not count repayment of the principal as a cost.
An introductory rate can look cheapest at first while an ongoing rate or recurring fee makes the loan more expensive over the full term. Keep the assumptions consistent so the comparison isolates the actual product differences.
- Use current figures from each lender's written offer
- Compare the same amount, term and repayment frequency
- Record offset, redraw and early-repayment conditions separately
Why the lowest borrowing cost may not be the best fit
The interest-and-fees result does not put a dollar value on flexibility, service, offset access, redraw rules, portability or fixed-rate break costs. A feature can be useful, but its value depends on whether you will actually use it and what the lender charges for it.
Rates and fees can change, and this calculator does not predict approval or future lender decisions. Confirm the comparison with a key facts sheet, the credit contract and a repayment schedule before choosing a loan.
Official sources and assumptions
Check the official or authoritative references used to review this calculator's rates, formulas and assumptions.
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 can be higher than a loan with no introductory discount. Compare interest and fees over the same amount and term rather than the starting rate alone.
Should I always choose the loan with the lowest interest and fees?
No. The estimate excludes the borrowed principal and does not value features such as offset access, redraw or flexibility. Compare current lender documents and contract terms as well.
How are extra repayments handled in the comparison?
Extra repayments are applied each period for the life of each loan, reducing the balance faster and cutting estimated interest. Use the same extra repayment for every loan before relying on the ranking.
Content responsibility
Maintained by CalcAussie and last updated 30 September 2026. Checks applied: calculation method, worked examples, Australian terminology, material assumptions, official references where an external rule applies, and user-facing limitations.
Calculator results remain estimates based on the figures entered. Check material decisions against current official information and report a suspected error so it can be reproduced and corrected.
Results are estimates only and are not financial, tax, legal or credit advice.