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Mortgage calculator — payment, down paymentTable of contents
Comparing mortgages requires looking at the total cost, not only the instalment. Two offers with a similar instalment can have very different total costs, fees and extra conditions.
For a quick comparison of instalments and total costs, use the Mortgage comparison calculator.
To estimate variants quickly, use the Mortgage calculator or the Loan calculator.
Most important factors to check:
APRC is a good overall measure, but always read the contract terms too. Helpful context: How APRC works — rules, limits and examples.
A lower instalment does not always mean a cheaper loan. A longer term reduces the instalment but increases total cost. Compare offers with similar terms and amounts.
For interest impact, see: Mortgage interest rate and Mortgage instalment — how to calculate.
Practical points:
If you consider a no‑down‑payment option, remember the higher costs and risk: Mortgage with no down payment.
If you consider switching banks, see: Mortgage refinancing.
Use identical assumptions: the same amount, term and down payment. Different inputs can distort the instalment, so compare offers on equal parameters.
If you consider switching banks, see: Mortgage refinancing.
Use identical assumptions: the same amount, term and down payment. Different inputs distort the instalment, so compare offers on equal parameters.
Some offers with lower margins require extra products. Before deciding, calculate the total cost of insurance and add‑ons over the full term. This is often the factor that changes the real cost the most.
Before signing, ask about:
Gather offers from several banks and put them into one table. Include margin, interest rate, fees, insurance, one‑off costs and early‑repayment terms. This makes the real cost differences visible.
Be cautious with offers that show a very low instalment but require expensive add‑ons. Also watch for high early‑repayment fees or unclear rules for rate changes.
When comparing offers, check whether a fixed rate is available and for how long. Fixed rates offer predictability but can be more expensive at the start. Variable rates may be cheaper but carry instalment‑increase risk.
Some banks require extra documents or have longer decision processes. Include decision time and document requirements in your comparison, as they affect the real time to get the loan.
The best offer balances a reasonable instalment, low total cost and predictable terms. If two offers are similar, choose the one with lower risk of extra costs.
After collecting offers, pick the best 2–3 and calculate total cost under identical assumptions. If differences are small, decide based on stability of terms and contract clarity.
Mortgage offers can change frequently. If your decision takes time, confirm the terms right before signing to avoid cost discrepancies.
If offers are very similar or contract terms are complex, an advisor can speed up comparison. Still, always verify costs and contract clauses in writing.
To make offers comparable, track at least:
The biggest mistake is comparing offers with different assumptions: term length, LTV, instalment type or fees. Standardize inputs before comparing. Also check the cost of add‑on products — a lower rate can hide higher fees elsewhere.
Ask for a written summary or a tariff sheet for each offer. Rates can change, and having a document with terms, fees and conditions makes it easier to confirm what you are actually comparing.
If one offer includes insurance and another does not, the comparison will be distorted. Normalize insurance scope and account fees so the total cost reflects the same package. Include account maintenance fees over the full term.
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