BMM Comparison Calculator
 
Product 1
Product 2
Product 3
Product 4
Product 5
 
Loan Amount
0.00
0.00
0.00
0.00
0.00
Loan Term
30
30
30
30
30
Property Value / EMV
0.00
0.00
0.00
0.00
0.00
LVR (Loan Value Ratio)
0%
0%
0%
0%
0%
Is Risk Fee/LMI to be capitalized*
Not Applicable
Not Applicable
Not Applicable
Not Applicable
Not Applicable
Risk Fee/LMI Type*
$ Amount
$ Amount
$ Amount
$ Amount
$ Amount
Loan Proceeds available at settlement
0.00
0.00
0.00
0.00
0.00
Upfront Fees (some may not apply)
Estab/Application Fee
0.00
0.00
0.00
0.00
0.00
Valuation
0.00
0.00
0.00
0.00
0.00
Legal Fee
0.00
0.00
0.00
0.00
0.00
Settlement Fee
0.00
0.00
0.00
0.00
0.00
Title Insurance
0.00
0.00
0.00
0.00
0.00
Risk Fee/LMI
0.00
0.00
0.00
0.00
0.00
Interest Rate
0.00
0.00
0.00
0.00
0.00
P&I or IO
P&I
P&I
P&I
P&I
P&I
IO Period
0.00
0.00
0.00
0.00
0.00
Ongoing Costs
Annual Fee Amount
0.00
0.00
0.00
0.00
0.00
Monthly Account Keeping Fee Amount
0.00
0.00
0.00
0.00
0.00
TOTALS
Assume Paid out after [X] Years
7
7
7
7
7
Total Repayments
0.00
0.00
0.00
0.00
0.00
Total Upfront
0.00
0.00
0.00
0.00
0.00
Total Risk Fee Amount
0.00
0.00
0.00
0.00
0.00
Total Ongoing Fees
0.00
0.00
0.00
0.00
0.00
Total Costs
0.00
0.00
0.00
0.00
0.00
Payout Figure
0.00
0.00
0.00
0.00
0.00
Total Costs + Payout Figure
0.00
0.00
0.00
0.00
0.00
Equity
Initial Property Value
0.00
0.00
0.00
0.00
0.00
Annual propery value increase/decrease
0.00%
0.00%
0.00%
0.00%
0.00%
Value of Property at end of x years
0.00
0.00
0.00
0.00
0.00
Equity
0.00
0.00
0.00
0.00
0.00
Comments
  
  
  
  
  
Contact your Better Mortgage Management BDM for more information
Disclaimer: The formulas used to provide answers in these home loan calculator tables will provide close approximations of the real-life figures, and can only be considered as a guide. They do not take into account all possible variables including but not limited to items such as government charges, or changes to funder requirements. They should be regarded as indicative only. Check with your Mortgage Adviser or BMM BDM if clarification is required. If more information is required please refer to Assumptions Tab and Disclaimer Tab in the calculator.
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 Prepared on 23-Jul-2019 - Subject to change without notification.
Conditions apply to rates and Product information
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Calculator Information

The Loan Comparison Calculator calculates the total amounts payable under alternative loans and then provides information about the total cost of loans and the impact the loans may have on customer's property equity. The loans allow for the entry of different interest rates and fees with ongoing interest rates remaining unchanged for the balance of the loan term.

Disclaimer

The results from the calculator are indicative estimates of the potential time or total costs involved with the loans as demonstrated by the calculator. They are not a quote, qualification or approval of or offer for a loan, nor are they a guarantee that the time and or interest will be saved.

These calculators, or the results generated, do not constitute any agreement by BMM to provide credit.

Please note that each financial institution applies different criteria when assessing and approving loan applications and fees and charges also apply and are subject to change. In assessing suitability of finance, consideration may also be given to other factors such as underwriting policies and loan features (features such as but not limited to internet banking access, or offset accounts). All loan applications are subject to lending and credit criteria.

This Comparison calculation is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison.

If further clarification is required on these or any other matter in relation to the calculator please check with your Mortgage Adviser broker or BMM BDM.

Calculator Information

The Loan Comparison Calculator calculates the total amounts payable under alternative loans and then provides information about the total cost of loans and the impact the loans may have on customer's property equity. The loans allow for the entry of different interest rates and fees with ongoing interest rates remaining unchanged for the balance of the loan term.

Calculator Assumptions

Length of Month

All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependant on the number of days in the particular month.

Interest Calculation

Interest is calculated daily and charged monthly in arrears.

Rounding of Amount of Each Repayment

Repayments are generally rounded to the nearest cent; however this calculator uses the unrounded repayment amount to obtain the interest amount payable at different points in time.

Establishment Fees

Where fee information has been supplied, it is based on 1 property with a standard (base) valuation and standard legal fees. Different terms, fees or other loan amounts might result in a different comparison. Additional Fees may be incurred if the applicant is a Company or Trust, or if there are 2 or more properties offered as security, or if valuation costs are higher for certain security properties.

It is also assumed that customers will pay establishment fees from own funds at or before settlement of the loan.

Risk Fees Capitalised.

The calculator provides options for the user to capitalise Risk fees or Mortgage Insurance. Policies vary from loan to loan, check with your mortgage broker or BMM BDM if clarification is required.

Payout figures

May vary from one lender to another and may require additional fees to discharge Mortgage. Such costs may be subject to change and unascertainable in advance.

Equity calculation

Equity portion of calculator is optional.

Equity amount is before property has been sold and before allowing for any sales costs (including but not limited to Real Estate fees, Advertising costs and legal fees). Annual property value increase/decrease percentage (%) is at user's discretion. BMM provides no forecast as to future property values.

If further clarification is required on these or any other matter in relation to the calculator please check with your Mortgage Adviser broker or BMM BDM.

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