Let your Fingers Shop online for Home Loans Comparisons

If you are finding it difficult to find the right loan let eChoice take the workload on for you, eChoice compares over 25 of the major Australian lenders & thousands of products to find a loan that matches your needs – It’s Online, Easy & Free -> Click Here to learn more

If you are shopping around to compare home loans, you are spoilt for choice because there are so many options available from a large number of lenders in the market. Just how do you makethe comparison? These are the tools that might be able to help you:

* Comparison Rates

* Home Loan Calculator and Comparison Schedule

* Ratings by independent financial services companies

* Contact eChoice!

Comparison Rates

Designed as a tool to help you identify the true cost of a loan, it is mandatory under the Uniform Credit Code for all lenders to provide comparison rates in advertisements for their home loans and personal loans to help consumers work out the ‘true’ cost of the loan. However, there are still some points to remember when using the comparison rates:

1. While comparison rates can be useful for comparing the cost of different loans, you need to consider all of a loan’s features and not just focus on the comparison rate because charges and fees that are charged only in certain circumstances are not included. Therefore, the comparison rate may not provide a complete picture of the total cost of a loan.

2. The amount and term of your particular loan may not be represented on the comparison rate schedule. Looking at the comparison rate for the amount and term closest to the amount and term of your loan gives you an idea of the comparison rate that applies to your loan.

3. There may be significant differences in the comparison rate for a secured loan and an unsecured loan of the same value due to the higher interest rates usually charged for unsecured loans and the higher up-front fees for secured loans. Thus, you need to be aware of what the comparison rate is based on in order to have a fair comparison.

Home Loan Calculator and Comparison Schedule

In the comfort of your home, you can compare home loans available in the market and find out which is the cheapest in total fees and interest over the life of the loan at eChoice now with our Home Loan Calculator. There are Cannex comparison schedules that you can refer to get a basic idea of what comparable variables that you should be looking at.

Ratings by independent financial services companies

There is also Cannex rating information (PDF) by independent financial services companies available on the Internet. These guides assess, rank and comment on the different loans available in the market based on some benchmark or index so you can find out more than a summary schedule of products and rates.

Contact eChoice!

If you are finding it difficult to find the right loan let eChoice take the workload on for you, eChoice compares over 25 of the major Australian lenders & thousands of products to find a loan that matches your needs – It’s Online, Easy & Free -> Click Here to learn more