Mortgage Calculator - Switch and Save

Calculate mortgage repayments and compare loans

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Calculate your mortgage repayments and savings when switching your mortgage from the Big 4 banks

Loan Amount

Rate

%

We found a range of home loans that match this criteria

Basic Variable Rate Home Loan
Advertised rate
3.77%Variable
Comparison rate*
3.81%
Save by switching
$52.3ktotal savings
Monthly repayment
$1,625
Discount Variable Home Loan ($150k+) (LVR 80%-90%) SpecialNo application fee for new customers. Offer only available for new customers till 31st of May 2018.
Advertised rate
3.79%Variable
Comparison rate*
3.81%
Save by switching
$51.7ktotal savings
Monthly repayment
$1,629
OMG Home Loan (Principal and Interest)
Advertised rate
3.79%Variable
Comparison rate*
3.83%
Save by switching
$51.4ktotal savings
Monthly repayment
$1,629
Low Rate Home Loan with Offset (Principal and Interest) (LVR 80%-90%)
Advertised rate
3.84%Variable
Comparison rate*
3.87%
Save by switching
$48.2ktotal savings
Monthly repayment
$1,639
Basic Home Loan (LVR < 80%)SpecialEstablishment fee waived for Variable Basic Home Loans until 30 June 2018
Advertised rate
3.86%Variable
Comparison rate*
3.87%
Save by switching
$47ktotal savings
Monthly repayment
$1,643
UHomeLoan Fixed (Principal and Interest) 3 Years
Advertised rate
3.74%Fixed - 3 years
Comparison rate*
4.01%
Save by switching
$55.6ktotal savings
Monthly repayment
$1,619
Budget Home Loan (Principal and Interest) (NSW and ACT only) (LVR < 90%)
Advertised rate
3.97%Variable
Comparison rate*
4.02%
Save by switching
$38.3ktotal savings
Monthly repayment
$1,665
Premium Plus Package Variable Rate Home Loan Special (Principal and Interest) (LVR < 95%)SpecialIncludes a discounted rate off the Premium Plus Package Variable Rate Tier 4 home loan when meeting certain eligibility requirements.
Advertised rate
3.64%Variable
Comparison rate*
4.03%
Save by switching
$50.9ktotal savings
Monthly repayment
$1,599
Basic Home Loan (LVR < 80%)
Advertised rate
4.09%Variable
Comparison rate*
4.11%
Save by switching
$29.9ktotal savings
Monthly repayment
$1,689
Liberty Free Home Loan (LVR 60%-70%)
Advertised rate
4.14%Variable
Comparison rate*
4.15%
Save by switching
$26.7ktotal savings
Monthly repayment
$1,699

Assumptions | Australian Credit License 316710. *WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to ...click to read more.provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. Offers selected from a range of home loan products in the RateCity database. The results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. All numbers are estimates. Check exact details of offers before applying for a loan. Stamp Duty calculations are an approximation and should be verified on the relevant government website. Certain states have conditions for some buyer types and loan amounts that have not been factored into calculations. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.

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*How we came up with our estimate?

First, we've looked at major banks' (ANZ, Commonwealth Bank, NAB and Westpac) discounted variable loan rates over the past 10 years, which is published by the Reserve Bank of Australia (RBA). It also publishes the 'mortgage managers' basic variable' rates. We've compared these rates to lowest rates on the market now and 10 years ago, and used it to make a conservative estimate of what the lowest rates on the market would have been.

Then we took a typical home loan over the past decade. We've used $350,000. The average loan size from 10 years ago was more like $250,000, however the typical mortgage holder has upgraded their property since then, so the loan size will be bigger on average. We calculated the repayments on this $350,000 loan for the majors' rate compared to our estimated lowest rate, and added up the difference. The totals surprised even us.

When choosing a lender it's important to look at a range of factors, but make sure you're not paying over the odds. If you haven't looked at you rate in the past year, chances are you're paying too much. Compare rates now and start saving.

*Assumptions: Lowest rates on the market have been estimated based on a range of sources, including RBA and RateCity historical data. The $50 billion figure is based on total loan book for each month, multiplied by the applicable interest rate for that month, divided by 12. Fees are excluded, as are features and benefits. Loan terms are 30 years and assume no additional repayments have been made. Not a guarantee or projection of future savings.

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