Home loans can have lots of different features and charges. But how do you know which home loan is better value? Try Mozo’s home loan comparison calculator to find out!
Our easy calculator lets you compare your top home loan picks. Simply plug in fees and features to see your home loan costs in action – and how a home loan deal could save you the most money. Great for first home buyers, investors, and refinancers alike!
Mozo’s home loan comparison calculator estimates and compares the long-term costs of two different home loans.
By calculating your mortgage repayments, fees, and interest rates, the calculator lets you compare how much money you can save over the loan term.
You can vary the home loan costs by interest rate, loan repayment type/frequency, and fees, such as monthly or annual fees. Your loan amount and term stay the same to give you the clearest picture of how a mortgage offer impacts your finances.
Mozo’s home loan comparison calculator is easy and free to use. Here’s how you do it, step-by-step.
First, figure out how much you want to borrow and how long you want to borrow it for. The first is your loan amount; the second is your loan term. For example, say you want to borrow $500,000 for 25 years.
Next, find two or more home loan deals you like. These are the options you’ll compare in the calculator. You can browse home loan offers in the comparison table above.
Next, write down the main costs of these home loans, namely:
Interest rate, including introductory interest rates and how long they last.
Repayment frequency (monthly, fortnightly, or weekly).
Upfront and ongoing fees, including how often they are paid (monthly or yearly).
Finally, plug these numbers into the boxes in the comparison calculator, then hit enter. Ta-da! Your home loans, compared. Now you know which home loan could be cheaper.
Yes – Mozo’s home loan comparison calculator will estimate your monthly mortgage repayments for two different loans. This way, you can see how things like your interest rate, fees, and features impact your household budget.
To estimate your mortgage repayments for just one home loan, see our easy home loan repayments calculator.
Our home loan comparison calculator tells you which home loan could be cheaper.
After you plug in the numbers for two home loans, including your initial loan amount (principal) and loan term, our calculator will flag in green which home loan has the lowest costs over time.
Our home loan comparison calculator is as accurate as the data you give it. The calculator is designed to show you roughly how much one home loan costs compared to another.
For example, this calculator is great to use if:
You’re a first home buyer learning how different loan features impact your costs.
You’re a refinancer wanting to switch to a lower interest rate.
You’re a property investor comparing interest-only vs. principal & interest loan options.
However, there are some things Mozo’s home loan comparison calculator can’t do, like:
Predict the future.
Show how loan changes, like interest rate hikes or cuts, affect your finances.
Show how financial decisions, like using your home equity, impact your long-term mortgage costs.
Instead, think of the calculator as a handy money tool for your home buying process. For the latest deals, head to our home loan comparison page.
Owner Occupier, LVR <80%
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Read our Mozo Review to learn more about the Unloan Variable
Owner Occupier, Principal & Interest, LVR <90%
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
Read our Mozo Review to learn more about the Express Home Loan
Owner Occupier, Principal & Interest, LVR 70-80%
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
Read our Mozo Review to learn more about the Discounted Home Value Loan
Investment, LVR <80%
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Read our Mozo Review to learn more about the Unloan Variable
Fixed, Owner Occupier, Principal & Interest, LVR<70%
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
Read our Mozo Review to learn more about the Basic Home Loan
Owner Occupier, Principal & Interest, <80% LVR
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Read our Mozo Review to learn more about the Fixed Rate
Owner Occupier, LVR<60%, Principal & Interest
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
Read our Mozo Review to learn more about the Basic Home Loan
LVR<80%, Owner Occupier, Principal & Interest
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
Read our Mozo Review to learn more about the Mortgage Simplifier
Owner Occupier, LVR<60%, Principal & Interest
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Read our Mozo Review to learn more about the Offset Home Loan
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