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Home loan comparison calculator.

The lowest advertised rate is not always the cheapest loan. Enter the amount and term, then the rate, upfront fees and ongoing fee for up to three loans. The calculator shows each loan’s repayment, its total cost over the period you expect to keep it, and an effective annual rate that folds the fees in.

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How this calculator works.

  1. Each loan’s repayment is the standard principal & interest repayment at its rate over the term.
  2. Total cost over your compare period is the repayments you would make in that time plus the upfront fees and every ongoing fee, whether charged monthly or yearly.
  3. The effective annual rate is the single yearly rate that would give the same cash flows once the fees are included. It is the same idea as a comparison rate, worked out on your own loan amount and term.
  4. The loan with the lowest total cost over the compare period is highlighted.

What it assumes

  • The starting scenario is a loan of $500,000 over 30 years compared over 5 years, with Loan A at 6.44% and Loan B at 6.54%, each with a $10 monthly fee.
  • Every loan is assumed to be principal & interest with a constant rate.
  • Cashback offers, offset accounts and redraw features are not modelled.
  • Assumptions last reviewed 25 September 2026.

Questions people ask.

What is a comparison rate?

A comparison rate combines a loan’s interest rate with most of its fees and charges into one figure, calculated on a standard loan so different products can be compared. The effective annual rate here is the same idea, but it uses your own loan amount and term, which makes it more relevant to your decision than the advertised comparison rate.

Which fees should I include?

Enter the upfront fees such as application, valuation and settlement fees, and any ongoing fee such as a monthly account fee or an annual package fee. Leave out anything that is the same on every loan you are comparing.

How long should I compare over?

Compare over the time you realistically expect to keep the loan. Most people do not hold a loan for its full term, so a shorter period (the calculator starts at 5 years) is usually more realistic than 30, and it gives upfront fees their proper weight.

Why is the cheapest loan not always the one with the lowest rate?

Fees can outweigh a small rate difference. A loan with a slightly higher rate but no ongoing fee can cost less over five years than a lower-rate loan with a large annual fee.

Can I compare a fixed and a variable loan?

You can compare their rates and fees over the period, but a fixed rate resets when the fixed term ends. The fixed vs variable calculator is built for that question.

More calculators.

Home Loan Comparison Calculator | Siare