How much can comparing home loans save me?

A little bit of time spent shopping around and comparing home loan deals can save borrowers thousands of dollars. On a standard variable $300,000 30-year home loan, the difference between the lowest and highest variable rate is currently more than 2.0 per cent. That means borrowers paying the highest rate in the market, which is currently 5.94 per cent will pay $87,000 more in interest over the loan compared to those on the lowest rate of 3.85 per cent.