Comparison rate calculator

How to use the comparison rate calculator

1. Loan amount and term

   Enter the amount you plan to borrow and the loan term in years. The calculator loads with $150,000 over 25 years, so update both to match your loan.

2. Introductory rate and term

   Enter the discounted introductory interest rate and how many months it lasts. If the loan has no honeymoon period, set the intro rate equal to the standard rate.

3. Standard or revert rate

   Add the ongoing interest rate that applies once the introductory period ends.

4. Upfront, ongoing and end fees

   Enter establishment fees under upfront fees, choose how often ongoing fees are charged (monthly, quarterly, half yearly or yearly), and add any discharge or end fees.

Once you have the comparison rate for one quote, use the loan comparison calculator to stack two home loans side by side.

Your result displays the comparison rate as a single percentage, your introductory and revert monthly repayments, total interest payable, total fees payable and total payments, plus a chart comparing the standard rate against the comparison rate.

What the comparison rate includes and leaves out

What visa holders should know about comparison rates

A comparison rate folds upfront, ongoing and exit fees into the interest rate, but it ignores the biggest costs visa holders face. It leaves out Lenders Mortgage Insurance (LMI), foreign purchaser stamp duty surcharges of 7% to 9% in most states, and Foreign Investment Review Board (FIRB) fees.

Buying as joint tenants with an Australian citizen, permanent resident or subclass 444 New Zealand citizen partner on a partner visa or 461 visa is usually exempt from FIRB approval and its fees, with loans up to 95% LVR. We use our VSL Matrix™ (Visa x Situation x Lender) to find lenders whose policies fit.