Comparison basics
6 min read
How to compare loans beyond the headline rate
A lower advertised rate does not always mean a lower-cost loan. Use this six-point check before deciding.
Read guide See borrowing more clearly
Make sense of loans.
Keep sight of the cost.
Plain-language guidance and practical tools to help you compare loan options with fewer blind spots.
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Independent education
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Repayment snapshot
What changes the cost?
Example
Estimated monthly payment
$608/mo
$14 less with a 1% lower rate
Comparing the same amount and term helps reveal the real rate difference.
Illustrative 5-year loan at 8% p.a.; excludes fees.
Start with your goal
Which kind of borrowing
Which kind of borrowing
are you exploring?
Every loan works differently. Choose a path to see the costs, terms and questions that matter most.
Loan A7.4%Rate
Clearer view
Total repayment$35,774
Includes known fees
Loan B7.1%Rate + fees
Compare with context
The lowest rate is only one part of the reflection.
Fees, repayment periods and product rules can change the value of an offer. We help you put those details beside the headline number.
- Use the same scenario across every option.
- Compare total repayment, not only monthly cost.
- Stress-test changes in rates and cash flow.
Borrowing, decoded
View all guides
Useful before you apply.
Interest explained
5 min read
Fixed vs variable interest: what changes for you?
Fixed rates offer predictability; variable rates can move. Here is how to think about the real trade-off.
Read guide
Application readiness
7 min read
How to prepare a stronger loan application
Organise the information lenders commonly review and avoid preventable issues before you apply.
Read guide
Good questions
Answers without the fine-print feeling.
Start here, then use our guides to dig deeper.
No. LoanMirror currently provides educational content and calculation tools. We do not lend money, arrange credit or accept loan applications.
Compare the annual percentage rate or comparison rate where available, every fee, the repayment term, total amount repayable, rate type, security requirements and useful flexibility.
No. Calculator results are estimates based only on the numbers entered. They do not include every fee or lender-specific calculation and are not an offer of credit.
Reading LoanMirror and using its calculator will not affect your credit score. A lender or broker may perform a credit check when you request a personalised quote or apply, so ask them what kind of check they use.
We aim to review core guides regularly and show publication dates on editorial pages. Loan products and regulations can change, so confirm current details with the relevant provider or regulator.
One number at a time
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