How much difference does 0.5% make on a home loan?
It makes a big difference to your interest payments. Say you had a $600,000 home loan with a loan term of 30 years. The difference of having an interest rate of 6% instead of 6.5% is: $195 in monthly repayments savings and $70,238 in interest savings over the life of your loan, assuming all fees and other charges are equal (these figures are estimates only). You can estimate your monthly repayments on a Tiimely Home loan, and total interest charged with our repayments calculator.