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,

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!