Loan comparison calculator

Use the Atomic Home Loans loan comparison calculator to work out what the repayments will be for different home loans. You can also use this calculator to find out what could be a better suited home loan for you, based on interest rates and applicable fees.

To use this calculator, start by inputing the loan amount your require along with the loan term you desire. Generally, this loan term will be 30 years.

If you know the upfront fees charged by each lender, input this accordingly. To get an accurate comparison, you should also input an ongoing monthly fees.

If your loan has an introductory, or honeymoon rate, you can input the details at the appropriate section.

If the loan does not have an introductory period, simply input the proposed interest rate as the ongoing rate.

Go through this process for both loans you would like to compare.

The view your results section will immediately tell you which Loan will save you money, and exactly how much.

The results will also show you the initial repayments for each loan, should there be an introductory period.

It will also show you the ongoing repayments on the loan.

Finally, you are able to view the total payments you will make with each loan.

This loan comparison calculator is very useful as it gives you a better idea on which loan, and lender, you should select when purchasing your home, or even refinancing your existing home loan.

You will likely be surprised by the amount of savings gained by even just the smallest of differences in the interest rate.

Remember, what is important isn’t necessarily how much you borrow, but rather, how much you pay back for the money you borrow. The less you have to pay back, the more you get to keep.

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