What home loan calculators can’t do

Everybody seems to be getting researching these days. That’s the power of the internet.

If you’re a parent of high school aged children, you’ll be familiar with the “Research Project.” It’s part of the Year 11 and Year 12 school curriculum. We’re trained from an early age to research.

Researching, when it comes to home loans, is a good idea. Home loan calculators are often used to give us an idea of how much our mortgage repayments could be. But unfortunately, they don’t tell us everything.

Home loan calculators aren’t the complete picture

If you know your loan amount, loan term and interest rate, a home loan calculator can accurately estimate your monthly or fortnightly repayment amount.  But if you’re thinking about refinancing or increasing your existing home loan, then the ultimate mortgage calculator is Joust

By running a “Joust” on www.joustnow.com.au, up to seven lenders will bid against each other for your home loan business… in real-time.  You even get to set the time-frame for the bids to be received. Talk about full control!

Nowhere else can you hope to create this kind of competitive tension, with just the click of a few buttons – and from the comfort of your lounge chair.

With Joust, we do the matchmaking for you. Sit back and watch the live bids come back to you from the lenders – directly on to your laptop, tablet or mobile phone.  

The bids include your monthly or fortnightly repayments. So manually entering assumptions into a mortgage calculator seems a bit "old school" now, doesn’t it?

I bet our kids wish their “Research Projects” were that easy.

To find out more about how Joust works and whether it’s for you, or email us at info@joustnow.com.au.

Mark Bevan, Joust Founder