Note: this calculator has a new look as of 19 October 2026. The video shows the old design, but it works the same way.
Bad credit vs clean credit: what it costs you
Put in your loan details. The results update as you type.
How much you want to borrow. For example 500,000.
The rate a mainstream lender might offer you.
The higher rate you may pay with a default on your file.
Most home loans run for 30 years.
Your monthly repayment
Clean credit 6.2%
$3,062.34
per month
Total interest: $602,444
Bad credit 8.9%
$3,987.19
per month
Total interest: $935,388
Bad credit costs you
With bad credit you could pay $924.84 more each month. That adds up to $332,944 over 30 years. If there are errors on your credit file, fixing them may help you get the lower rate.
The $139 comes off the legal fees we quote. This calculator gives an estimate only. It is not financial advice. Your lender sets your rate.
Here are three actual client scenario’s:
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Client 1:
Loan Purpose: Mortgage Refinance
Loan Amount: $416,000
Previous Lender (with bad credit): Better Choice Mortgages
Previous Rate: 6.18%
New Clean Credit Lender: NAB
New Rate: 2.98%
Amount Saved: $13,312 per year since 2019
If you want to work out your potential savings,
Click HERE to go to our Clean Credit v Bad Credit Calculator Page
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Client 2:
Loan Purpose: Mortgage Construction (Purchase)
Loan Amount: $524,185
Existing Lender (with bad credit): Pepper Homeloans
Existing Rate: 5.34%
Clean Credit Lender: Will Refinance to NAB once construction is finished within 6 months
New Clean Credit Rate: 1.99%
Amount Saved: $17,560 per year
If you want to work out your potential savings,
Click HERE to go to our Clean Credit v Bad Credit Calculator Page
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Client 3:
Loan Purpose: Mortgage Purchase
Loan Amount: $668,944.82
Option 1 Lender (with bad credit): Pepper Homeloans
Option 1 Rate: 4.89%
Risk Fee: 1.25% ($8,361.81)
Option 2 Lender: (With clean Credit) NAB
Option 2 Rate: 2.08%
Amount Saved: (by choosing Option 2 after MyCRA Lawyers fixed credit)
$18,797.35 per year interest and $8,361.81 in Risk Fee
Total of $8,361.81+$18,797.35 = $27,159.16 in the first year alone
These savings are made for up-to 5 years.
If you want to work out your potential savings,
Click HERE to go to our Clean Credit v Bad Credit Calculator Page
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Please Note: This website contains examples, case studies, Google Reviews, and testimonials of our happy clients talking about their successes.
I am sure you realise that every legal case, every legal file and every legal matter is unique, different, and specific to that person and their circumstances.
If we think your chances of success are low, or sometimes non-existent, we will tell you.
In fact, before we agree to take you on as a client, we must see an up-to-date copy of your Equifax or Experian credit file (preferably both) and have a one-on-one conversation with you to make sure you are fully aware of your options and risks, even if that means not dealing with MyCRA Lawyers.
Remember: past results are not a guarantee of your future success.