Repayments
What would this loan actually cost?
Adjust the loan amount, rate, and term to see the weekly repayment, plus how much a small rate change moves the number over the life of the loan.
Principal and interest, explained simply
Most home loans repay principal and interest together, in equal instalments, over the full loan term. Early payments are mostly interest, later payments are mostly principal, but the instalment itself stays flat for the life of a fixed rate, or moves with the market on a variable rate.
Half a percentage point on a $650,000 loan is worth roughly $100 to $120 a month either way, which is why it's worth asking a broker to check your rate against the panel even if you're not planning to switch lenders.
Think your rate could be better?
A broker can compare your current loan against the panel in one chat.
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