This is a desktop home loan calculator that allows you to compare 2 loans and compare the total costs of the loans. It also calculates the relative savings. The calculator takes into account establishment/application fees and ongoing fees. This calculator can be used to compare any loan type including home loan comparison.
When people borrow a large amount of money, they can end repaying the initial amount several times over. A small difference in interest rates or fee can add up to thousands of dollars over the life of the loan. This tool can help you identify significant savings.
How does this process work?
There are 4 steps.Step 2 Compare alternatives with our broker- from your preliminary assessment.Step 4 Finalize loan – Complete lenders formal documents.
- A more detailed process explanation is in our credit guide.
- Step 3 Choose a loan – receive your loan proposal, sign lenders application & provide further documents( if required).
- Step 1 Apply -Complete our “application” & then a “smart fact find” & provide supporting documents .
What Are The Approximate Time Frames?*
Pre-approval 4-48 hours ( rapid per approval is 4 hours)Loan Documents 2-3 weeks from approval(Rapid refinance settles in 2 weeks from approval)*Please ensure the valuer has timely access for valuation as this can also slow down process. (All valuers are external to lenders and us)
- * Some times lenders have back logs which makes the time frames longer. We will endeavor to advise you if this is the case for the lender you choose
- Settlement 6 weeks from approval
- Approval 5-8 working days
What are the lenders fees and all the costs ?
We compare all the lenders fees in a preliminary assessment and then again for your specific lender in the loan proposal document
- The lender also tells you in their loan documents.
Do I pay more for using a broker?
In most cases you won’t pay more for using us as your broker,as most of our loans are broker fee FREE* – the bank pays us instead of their own loans departments.
- *We only might charge a fee if your loan is large and commercial or low doc. ( where you don’t provide financials) as these loans are very time consuming and we issue you a quote up front before you proceed.