Thursday, February 24, 2005

Calculator for Comparing Home Loans

Comparing Home Loans in Australia

We have just added a home loan calculator to our web-site and will be adding more shortly. This first calculator will calculate the monthly payment and interest costs for up to four loans -- all on one screen -- for comparison purposes.

This is much more convenient than having to write down your results on a piece of paper each time you test a different variable or loan. You can compare 4 different loans or just vary the term or interest rate on a single loan to see the effects.

For example, if you want to see what effect a proposed interest rate rise is going to have on your home loan - enter the details for your loan as it currently stands in the first row, then repeat the information in the second row but with the proposed rate, then press the 'Compute' button in each row. You can then compare the old repayment with the new.

If you have Javascript turned off in your browser you will not be able to see the calculator on the web-site.

Click here to use the Home Loan Calculator: "