Loan Comparison Calculator (2026)
Compare estimated repayments and total costs for two home loans using the rates, fees and terms you enter.
P = L[c(1+c)^n]/[(1+c)^n-1]Inputs
Loan A
Positive principal borrowed; use the same amount for a like-for-like comparison
Annual interest rate
Length of the loan
One-off establishment or application fees
Monthly package or service fees
Loan B
Positive principal borrowed; use the same amount for a like-for-like comparison
Annual interest rate
Length of the loan
One-off establishment or application fees
Monthly package or service fees
$3,160.34
Loan B Monthly Repayment
$2,965.68
Monthly P&I Difference
$194.66
Loan A Total Cost
$1,141,322.44
Loan B Total Cost
$1,069,645.71
Estimated Total Cost Difference
$71,676.73
Interest & Fees Comparison
How to read this comparison
Use the same amount and term to compare rates and fees. A smaller loan or longer term can reduce the monthly repayment without making the loan better value. The total loan cost includes the principal repaid.
This estimate uses monthly principal and interest repayments, a constant annual rate divided by 12, and 12 repayments per year. At 0% interest, repayment is the amount borrowed divided by the number of months. Upfront fees are paid separately; monthly fees are added to total cost but excluded from the repayment cards. Rates and fees stay unchanged for the full term. Displayed totals are rounded to cents after calculation.
For example, a $120,000 loan at 0% over 10 years has a $1,000 monthly principal repayment. With a $600 upfront fee and a $10 monthly fee, monthly cash outgoings are $1,010 and the estimated total cost is $121,800.
Daily lender interest calculations, rate changes, offset balances, extra repayments, interest-only periods, exit costs and fees not entered are excluded. General information only, not a quote, loan approval, comparison rate or credit recommendation. Check lender documents and consider a licensed professional before relying on an estimate.
For switching costs, use the refinance break-even calculator. To explore cash held against a loan, read the offset account break-even tool.
Source notes: ASIC Moneysmart mortgage calculator assumptions support the monthly repayment model; Moneysmart guidance on comparing loans explains costs and features. Our model adds entered upfront fees separately.
For annual package charges, divide the annual fee by 12 to enter a monthly equivalent. For example, $395 a year is approximately $32.92 a month. This spreads the cost across months, so payment timing and cent rounding can differ from the lender's annual charge. Read the home loan package fee break-even guide before comparing a package with a fee-free option.
Last updated: 8 October 2026.
