Comparison Rate Mortgage Calculator
Calculate real annual interest rate for your mortgages...
Comparison rate calculates the Average Annual Percentage Rate (AAPR) of a home loan. It is basically calculating the real interest rate. To fid out how it works read our article on comparison rates.
- The comparison rate calculator calculates the reall rate after taking into account all the fees included with the loan
- Includes a mortgage calculator that shows principle and interest only mortgage repayments
- Also calculates, total loan cost, fees paid, exit costs with monthly, fortnightly, weekly
- If you are unsure on what figure to insert there are instructions below
- Need help with this calculator please do not hesitate to contact us.
How To Use This Mortgage Calculator
1. Loan Amount - Estimate of how much you would like to borrow - not sure find out how much you can borrow
2. Number of Years - Enter the number of years to pay the loan
3. Fixed or Intro Term (optional): Insert the fixed rate term in years or the introductory rate or honeymoon period. Expressed in years
4. Fixed or Intro Term Interest Rate (optional) - Insert the fixed interest rate term or the introductory rate or honeymoon period.
5. Ongoing Interest Rate - Insert the interest rate. If there is a fixed or introductory period insert the interest rate after the period has ended.
6. Repayment Frequency - Choose monthly, fortnightly, weekly or interest only and the repayments result will reflect your repayments for that period. Note that interest only payments are calculated per month. Click the following link if you would like to use a specific interest only mortgage calculator.
7. Application Fee - Insert the total upfront fees for the loan
8. Monthly Fees - Insert the ongoing monthly fee if applicable to the loan
9. Yearly Fees - Some lenders charge an annual fee for loans
10. Discharge Fees and or Early Exit Fees - Most lenders charge an discharge of mortgage fee between $150 and $900 when your mortgage has been discharged. Insert early exit fee penalties if you discharge your loan within the first 3 to 5 years.
11.Total Fees - This includes all the upfront, ongoing and exit fees associated with your loan.
12. Intro or Fixed Repayments- This is your monthly, fortnightly, weekly or interest only repayments for a fixed rate loan or introductory rate loan
13. Ongoing Repayments - This is your monthly, fortnightly, weekly or interest only repayments for the loan. If there is a fixed or introductory period then these are the repayment after the period has expired.
14. Interest Paid - This is the total interest paid over the term of the loan without making extra repayments, interest rate changes or using an offset facility.
15. Total Cost of Loan - This is the total cost of the loan and it includes all the upfront, ongoing and exit fees for that loan.
16. Comparison Rate - As described above
Important Note Compare Loans Mortgage Calculator
This is an estimate only. It is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, applies the current variable rate for the remainder of the loan term. All applications for credit are subject to lenders normal credit approval criteria.
We have home loan experts that can sort through hundreds of loan in less than 2 minutes to find the most suitable home loan for your lending needs. They can show you all the all the hidden costs and restrictions as well as show you which lenders are the most reputable to choose from.
- Quick Links:
- How Much Can I Borrow
- Mortgage Repayment
- Compare Loans Calculator
- Interest Only Calculator
- Stamp Duty Calculator
- Comparison Rate Calculator
- Extra Repayments Calculator
- Refinance Mortgage
- 100% Offset Calculator
- Amortisation Calculator
- Budget Calculator
- Commercial Loan Calculator
- Property Purchase Costs
Today's Interest Rates
- Basic Home Loans
- Professional Home Loan
- Low Doc Home Loans
- Line of Credit Home Loans
- Construction Loans
- Introductory Home Loans
- Fixed Rate Home Loans
- Bridging Loans
- Interest Only Home Loans
- Mortgage Refinance
- ANZ Home Loans
- Comm Bank Home Loans
- NAB Home Loans
- Westpac Home Loans
- Homeside Lending Loans
- Adelaide Bank Home Loans
- AMP Home Loans
- Bank West Home Loans
- Citibank Home Loans
- ING Home Loans
- St George Home Loans
- Suncorp Home Loans
- Property Investment Loans
- Investment Loan Quote
- MAJOR LENDERS
- ANZ Investment Loans
- CBA Investment Loans
- NAB Investment Loans
- Westpac Investment Loans
- Homeside Investment Loans
- Adelaide Bank Loans
- AMP Investment Loans
- Bank West Investment Loans
- Citibank Investment Loans
- ING Investment Loans
- St George Investment Loans
- Suncorp Investment Loans