Home Loan Comparison Calculator

With hundreds of loan products on the market in 2026, finding the “cheapest” loan isn’t always as simple as looking at the interest rate. A low rate can sometimes be offset by high annual fees or a lack of features like an offset account.

Our Home Loan Comparison Calculator allows you to put two different loans side by side and make an informed decision. Whether you are comparing your current mortgage to a new offer or choosing between two lenders, we’ll show you the true cost of each over the life of the loan.

Why Compare More Than Just Interest Rates?

At Westgate Home Loans, we see it every day: a borrower is drawn to what interest rate they’ll pay only to realise the loan lacks the flexibility they need. To find the right fit for your WA lifestyle, you need to look at:

• Comparison Rates: This includes most fees and charges, giving you a more accurate picture of the loan’s cost.

• Ongoing Fees: An annual “package fee” of $395 can effectively add 0.10% to 0.15% to your interest rate on smaller loan balances.

• Loan Features: Does the loan offer a 100% Offset Account or a Redraw Facility? These can save you thousands more than a slightly lower rate would.

• Introductory vs. Ongoing Rates: Beware of “honeymoon” rates that jump significantly after the first year.

Are You Considering Refinancing This Year?

If your current rate starts with a higher number than what you see in the market today, it’s time to use our comparison tool.

How to Use This Calculator for Refinancing:

Simply input your current loan features, then input the loan features of the mortgage you are considering into our calculator. Don’t forget to consider the discharge fees from your existing mortgage as an additional cost.

The Westgate Advantage: More Than a Calculator

While a calculator provides the numbers, a Westgate Home Loans broker provides the strategy. As a WA-based team with deep ties to Summit Homes Group, we offer:

• Access to 40+ Lenders: We don’t just compare two loans; we scan the entire market for you.

• Construction Expertise: If you are building, we compare construction-specific loans that handle progress payments seamlessly.

• Personalised Service: We look at your “LVR” (Loan-to-Value Ratio) to see if you can qualify for lower “tier” pricing that isn’t always advertised online.

Frequently Asked Questions

Q. What is a comparison rate?
A. The comparison rate is a tool required by law to help you identify the true cost of a loan. It calculates the interest rate plus most fees (like establishment and annual fees) into a single percentage.

Q. Is it worth switching for a 0.50% lower rate?
A. Usually, yes! On a $500,000 loan, a 0.50% reduction could save you approximately $150–$200 per month. Our calculator will help you determine if the upfront switching costs are worth the long-term gain.

Q. Can I compare a fixed rate vs. a variable rate?
A. Yes – you can use our calculator to see the difference in monthly cash flow between the two. However, remember that fixed rates offer certainty while variable rates offer flexibility (like unlimited extra repayments).