Mortgage Calculator

Ultimate Mortgage Comparison Interest Rate Calculator

One question I always have is comparing the cost difference between variable and fixed rate mortgages?

Mortgage Calculator

A fixed interest rate will not change during the fixed period. During the fixed period the borrower knows their repayments will remain unchanged.

A fixed rate loan is also advantageous if variable interest rates rise. When variable interest rates rise a borrower with a fixed interest rate is relatively better off because their rate will remain unchanged.

I have found a unbelievable online calculator that is based in Australia but it works great.

It is available here, http://www.yourmortgage.com.au/calculators/fixed_variable/

You can even enter how you expect the variable interest rate to change over the period of the mortgage so it makes it great to do what if analysis!

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