Low Doc Loan Comparison Calculator

Compare any two low doc loans on the market for a direct cost comparison. Determine which has the lower total fees and interest over the life of the low doc loan.

Assumption:

  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
  • It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.
  • This calculator does not take into account some loan features such as redraw facilities and offset accounts etc.




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