home loan comparison spreadsheet guide for smarter borrowing

What it is

A home loan comparison spreadsheet lets you line up lenders side by side, revealing total cost, cash flow impact, and risks. With clear columns for rate, fees, term, and features, formulas translate jargon into dollars, so decisions feel grounded instead of guesswork.

Key inputs to include

• Advertised rate and comparison rate
• Upfront, ongoing, and discharge fees
• Loan term, repayment frequency, and principal vs interest-only
• Intro rate, revert rate, and fixed-period break costs
• Offset balance assumptions and redraw limits
• Lender’s Mortgage Insurance (LMI) or risk fee
• Extra repayments and lump-sum scenarios

How to use it well

Enter your loan amount, then use PMT to estimate repayments, SUM to total fees, and cumulative interest columns to compare lifetime cost. Build scenarios across columns-base case, aggressive extra payments, and rate-shock-so you can see sensitivity at a glance.

Common pitfalls

Don’t ignore revert rates after teaser periods, annual package fees, or valuation/legal costs. Check that comparison figures use the same assumptions. Finally, stress-test with rates 2–3% higher; if the spreadsheet still says “affordable,” you’re likely on solid footing.