Calculate your estimated monthly cash back and total savings over the life of your home loan in seconds.
The Mates Rates cash-back calculator shows you exactly how much you could save by switching to a Mates Rates cash-back home loan. Enter your current loan amount, interest rate, and remaining term, and the calculator will show your estimated monthly cash-back credit and the total savings over the life of your loan, including the compound interest benefit of applying those credits directly to your principal.
Finsure Residential Home Loan lenders pay Mates Rates Mortgage Brokers both upfront and trailing commissions when we arrange a home loan. We credit 100% of the ongoing trailing commissions paid to us through our aggregator Finsure, directly to your home loan account every month. The calculator uses the standard trailing commission rate to estimate your monthly credit. Actual amounts will vary by lender.
Lenders pay Mates Rates Mortgage Brokers upfront and trailing commissions and then we credit ALL the trailing commissions to you as a cash back credit to your home loan, every single month for the life of your home loan.
The calculator provides three key figures. Your estimated monthly cash back is the trailing commission credit you would receive each month based on your loan balance and the standard commission rate. Your total cash back is the cumulative credit over the full remaining loan term. Your total savings including compound interest is the larger figure that accounts for the effect of applying each monthly credit to your principal, which reduces the interest you pay on the remaining balance every subsequent month.
The compound interest saving grows over time. The sooner you start receiving cash-back credits, the greater the total compounding benefit. This is why refinancing to a Mates Rates loan earlier in your loan term delivers more savings than waiting.
Three factors determine your monthly cash-back amount: your outstanding loan balance including any cash in redraw or offset, the number of days in the month, the lender trailing commission rate, and the lender you choose. As you pay down your loan, the monthly credit reduces proportionally. Different lenders pay slightly different trailing commission rates, which is why the Lender Commission Leveller is important as it ensures no lender is excluded regardless of what commission they pay.
Use the calculator above to estimate your savings, then book a free call with a Mates Rates broker to confirm your actual cash-back entitlement based on the specific lender and loan we recommend for your situation.
