It can be difficult to compare home loans that have different interest rates and fees. This is why credit providers must give a comparison rate when they advertise a rate or a weekly payment for home loans. The comparison rate includes the interest rate or weekly repayment amount, plus most fees and charges.
A comparison rate gives you an indication of the true cost of a loan. It’s a way of comparing loans equally by including known fees (upfront, ongoing and exit) on top of the interest rate and is calculated specifically on a $150,000 loan over 25 years. As this is a precise reference point, we recommend that you look at the cost of the mortgage over the entire loan term (which uno provides) because it’s more accurate and tailored to your situation.
This information in this article is general only and does not take into account your individual circumstances. It should not be relied upon to make any financial decisions. uno can’t make a recommendation until we complete an assessment of your requirements and objectives and your financial position. Interest rates, and other product information included in this article, are subject to change at any time at the complete discretion of each lender.