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home loan costsWhen you borrow money to buy your home, the home loan provider will charge you interest on the amount you borrow and may also charge you fees to manage your loan. In addition, other fees may also be payable such as:
To help you compare interest cost, home loan providers publish comparison rates. This is usually displayed next to the advertised headline interest rate. A comparison rate helps indicate the ‘true’ cost of a loan. It takes into account all of the costs associated with setting up a loan including the interest rate, establishment fees and any other up-front or ongoing fees. A comparison rate doesn't include government fees and charges or any fees that rely on certain events occurring, or that are not able to be determined at the time of calculation.
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