Switching Mortgage Calculator

Switching Mortgage Calculator

A Switching Mortgage Calculator is one of Mortgage Street’s most detailed tools, but the information it can give you is easy to understand, and it can help you save money. It acts like a mini home loan comparison calculator, allowing you to compare your current home loan with a possible new one. The key to success in using a Switching Mortgage Calculator is making sure the information you put into it is as accurate as it can be.

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Your Repayments

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application via a mortgage broker. Mortgage Street’s prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan. * The interest rate shown on Toggle products is a blended rate comprised of 50% fixed interest rate and 50% variable interest rate. The comparison rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable. * This mortgage calculator shows indicative repayments based on 12/26/52 equal repayments for monthly/fortnightly/weekly options.

WARNING: The 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.

Can I switch mortgage lenders?

With such a large range of products on the market today, switching your mortgage to potentially save you money is an attractive option armed with professional mortgage broker advice.

It is always good practice to give your current home loan a health check from time to time, whether you are looking to refinance or not.

Interest rates : It’s likely that interest rates have changed since you first took out your current home loan.

Fees and charges : You may find your current financial product has fees and charges you feel are excessive.

Features : If you have had your current home loan for a long time, then there might be home loan features on the market today.

Financial reasons : Your financial situation may have changed, and you may be looking to seek guidance from a mortgage broker to refinance your home loan.

 

Switching home loans is not difficult, especially when you use a switching mortgage calculator as your first step. If, after looking at the calculator and interest rates, and speaking with your trusted mortgage broker, if you think the move can save money, then there is no reason to hesitate.

Mortgage brokers have resources that are simple to use and easy to understand and can provide you with a clear picture of your current loan.

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