Two home loans: compare matching Key Facts Sheets
Two advertised home loans can look similar while using different assumptions. A fair comparison starts by placing the same proposed loan amount, term, repayment method and rate type into a standard Key Facts Sheet for each option.
Moneysmart is Australian Government financial guidance provided by ASIC. Its Choosing a home loan page, updated 16 September 2026, says the Key Facts Sheet is compulsory for standard home loans and uses the same layout across lenders, helping borrowers compare like with like.
Why use a Key Facts Sheet?
The common format reduces the risk of comparing one lender's headline rate with another lender's differently structured example. You can generally request the sheet from a lender, its website or a mortgage broker for the amount you expect to borrow.
A sheet supports comparison; it is not loan approval, a personalised suitability decision or a complete summary of every product condition. Actual eligibility, pricing and approval remain subject to the lender and individual assessment.
Keep the assumptions consistent, then check three results
First, compare the personalised comparison rate, which combines the interest rate and most fees for the stated scenario. Second, compare the total amount to be paid back over the stated loan term. Third, place the monthly repayment beside establishment and ongoing fees.
Check that both sheets use the same loan amount, term, principal-and-interest or interest-only method, repayment frequency and fixed or variable rate type. Changing one of these inputs can make two figures look comparable when they are not.
Ask about conditions outside the shared fields
Moneysmart notes that the Key Facts Sheet does not include every feature or condition. Ask whether extra repayments are limited, whether offset or redraw access has fees, whether break costs apply, whether the loan can be switched later, and what happens when a fixed or introductory rate ends.
BV Finance can help place eligible written loan options on the same assumptions and compare costs, features, restrictions and expected usage. The final loan choice and approval remain dependent on the borrower, property and lender criteria.
Sources and practical tools
General information only. This is not financial advice. Loan options and eligibility depend on your personal income, liabilities, assets and lender assessment criteria.
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