Aussie home loan repayment calculator

Thinking about taking out a home loan with Aussie? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Aussie home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.21 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Extensive branch access
  • Competitive rates
  • Interest rates vary by loan size and type
  • Limited repayment options on most loans
  • Some fees apply

Aussie home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.21%

Fixed - 3 years

$330

2.48%

$0
Aussie
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2.21%

Fixed - 2 years

$330

2.51%

$0
Aussie
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2.55%

Variable

$330

2.57%

$0
Aussie
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2.55%

Variable

$330

2.57%

$0
Aussie
More details

3.09%

Fixed - 1 year

$330

2.61%

$0
Aussie
More details

2.69%

Variable

$330

2.72%

$0
Aussie
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2.69%

Variable

$330

2.72%

$0
Aussie
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2.69%

Variable

$330

2.72%

$0
Aussie
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2.69%

Variable

$330

2.72%

$0
Aussie
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2.69%

Variable

$330

2.72%

$0
Aussie
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2.55%

Variable

$330

2.76%

$15 monthly
Aussie
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2.55%

Variable

$330

2.76%

$15 monthly
Aussie
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3.24%

Fixed - 4 years

$330

2.79%

$0
Aussie
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2.99%

Variable

$330

3.01%

$0
Aussie
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2.99%

Variable

$330

3.01%

$0
Aussie
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2.21%

Fixed - 3 years

$330

3.15%

$0
Aussie
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3.14%

Variable

$330

3.15%

$0
Aussie
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2.99%

Variable

$330

3.20%

$15 monthly
Aussie
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2.99%

Variable

$330

3.20%

$15 monthly
Aussie
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2.21%

Fixed - 2 years

$330

3.24%

$0
Aussie
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2.79%

Fixed - 3 years

$330

3.29%

$0
Aussie
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2.21%

Fixed - 3 years

$330

3.33%

$15 monthly
Aussie
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2.79%

Fixed - 2 years

$330

3.34%

$0
Aussie
More details

3.14%

Variable

$330

3.34%

$15 monthly
Aussie
More details

3.34%

Variable

$330

3.35%

$0
Aussie
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3.49%

Fixed - 1 year

$330

3.37%

$0
Aussie
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3.49%

Fixed - 2 years

$330

3.38%

$0
Aussie
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3.24%

Fixed - 4 years

$330

3.39%

$0
Aussie
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3.49%

Fixed - 3 years

$330

3.39%

$0
Aussie
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3.09%

Fixed - 1 year

$330

3.42%

$0
Aussie
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2.21%

Fixed - 2 years

$330

3.43%

$15 monthly
Aussie
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3.59%

Fixed - 4 years

$330

3.44%

$0
Aussie
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3.39%

Fixed - 1 year

$330

3.45%

$0
Aussie
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3.44%

Variable

$330

3.45%

$0
Aussie
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3.44%

Variable

$330

3.45%

$0
Aussie
More details

3.59%

Fixed - 5 years

$330

3.45%

$0
Aussie
More details

2.79%

Fixed - 3 years

$330

3.48%

$15 monthly
Aussie
More details

3.54%

Fixed - 4 years

$330

3.49%

$0
Aussie
More details

3.54%

Fixed - 5 years

$330

3.49%

$0
Aussie
More details

3.49%

Variable

$330

3.50%

$0
Aussie
More details

3.39%

Variable

$330

3.51%

$0
Aussie
More details

2.79%

Fixed - 2 years

$330

3.53%

$15 monthly
Aussie
More details

3.34%

Variable

$330

3.54%

$15 monthly
Aussie
More details

3.49%

Fixed - 1 year

$330

3.55%

$15 monthly
Aussie
More details

3.24%

Fixed - 5 years

$330

3.56%

$15 monthly
Aussie
More details

3.24%

Fixed - 4 years

$330

3.57%

$15 monthly
Aussie
More details

3.49%

Fixed - 2 years

$330

3.57%

$15 monthly
Aussie
More details

3.49%

Fixed - 3 years

$330

3.58%

$15 monthly
Aussie
More details

2.84%

Fixed - 3 years

$330

3.60%

$0
Aussie
More details

3.59%

Variable

$330

3.60%

$0
Aussie
More details

3.09%

Fixed - 1 year

$330

3.61%

$15 monthly
Aussie
More details

3.59%

Fixed - 4 years

$330

3.62%

$15 monthly
Aussie
More details

3.39%

Fixed - 1 year

$330

3.64%

$15 monthly
Aussie
More details

3.44%

Variable

$330

3.64%

$15 monthly
Aussie
More details

3.44%

Variable

$330

3.64%

$15 monthly
Aussie
More details

3.59%

Fixed - 5 years

$330

3.64%

$15 monthly
Aussie
More details

3.54%

Fixed - 4 years

$330

3.67%

$15 monthly
Aussie
More details

2.84%

Fixed - 2 years

$330

3.68%

$0
Aussie
More details

3.54%

Fixed - 5 years

$330

3.68%

$15 monthly
Aussie
More details

3.49%

Variable

$330

3.69%

$15 monthly
Aussie
More details

2.84%

Fixed - 3 years

$330

3.78%

$15 monthly
Aussie
More details

3.59%

Variable

$330

3.79%

$15 monthly
Aussie
More details

3.59%

Variable

$330

3.81%

$15 monthly
Aussie
More details

3.74%

Fixed - 5 years

$330

3.81%

$0
Aussie
More details

3.74%

Fixed - 4 years

$330

3.82%

$0
Aussie
More details

3.54%

Fixed - 1 year

$330

3.83%

$0
Aussie
More details

3.84%

Variable

$330

3.85%

$0
Aussie
More details

2.84%

Fixed - 2 years

$330

3.86%

$15 monthly
Aussie
More details

3.69%

Variable

$330

3.91%

$15 monthly
Aussie
More details

3.74%

Fixed - 5 years

$330

3.99%

$15 monthly
Aussie
More details

3.74%

Fixed - 4 years

$330

4.00%

$15 monthly
Aussie
More details

3.54%

Fixed - 1 year

$330

4.01%

$15 monthly
Aussie
More details

3.79%

Variable

$330

4.01%

$0
Aussie
More details

3.84%

Variable

$330

4.03%

$15 monthly
Aussie
More details

3.99%

Variable

$330

4.20%

$15 monthly
Aussie
More details

3.89%

Variable

$330

4.24%

$0
Aussie
More details

4.09%

Variable

$330

4.30%

$15 monthly
Aussie
More details

Aussie customer service

Customers can meet with a mortgage broker at one of the Aussie retail stores throughout Australia or via appointment with a mobile broker. Customers can also contact Aussie by:

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking
  • Live Chat
  • Mobile banking staff

How to apply

Aussie allows customers to start the home loan application process by phone, or by booking a free appointment via their website, or in person at an Aussie retail store. 

Before applying for a home loan, it’s important to look at how much you can afford to borrow and comfortably repay in your current financial situation.

To apply for an Aussie loan, you will need to supply documentation, such as:

  • Personal identification.
  • Proof of income and savings.
  • Information on your family situation.
  • Information regarding your current debts, liabilities and assets.

About Aussie home loans

Aussie offers a wide range of home loans to suit a variety of customers, including:

  • First home buyers
  • Investors
  • Refinancers
  • Upgraders
  • Renovators
  • Self-employed customers (low-doc loans)

In terms of interest rates and repayments, Aussie home loans borrowers can choose from a number of options, including:

  • Fixed-rate home loans
  • Variable-rate home loans
  • Split home loans
  • Interest-only loans
  • Principal-and-interest loans

Aussie home loans have a maximum loan term of 30 years. Unlimited extra repayments are allowed in addition to the minimum repayments. Redraw facilities are also available and offset accounts are offered on some of Aussie’s home loan products.

Aussie’s own home loan rates typically range from very low to moderately low and fees tend to be very low to moderate. However, because Aussie can also broker home loan deals through other lenders, interest rates and fees may vary.

Aussie home loan rates

Aussie home loan rates differ depending on the type of home loan and whether the loan is made by Aussie or brokered with another lender. Generally speaking, though, Aussie home loan rates tend to be very low to moderate.

Because Aussie is a lender as well as a broker, it can make many different home  loans and interest rates available to suit a variety of customers.

Typically, customers wanting to borrow money to buy a homes to live in as owner occupiers will be able to secure lower interest rates than those wanting to borrow money to invest in property.

Aussie borrowers may also get to choose between a variable interest rate on their home loan that may rise or fall, and fixed-rate home loan with an interest rate that will stay the same for a limited number of years.

Aussie home loans review

Aussie provides home loans to borrowers all over Australia, whether directly from its retail stores or via mobile mortgage brokers.

As well as offering its own home loans, Aussie works with lenders all over Australia – including the big four banks – to offer a choice of flexible home loans to suit different needs.

Aussie provides home loans suited to basic borrowers, such as standard owner-occupier home loans, as well as specialist home loans, including low-doc home loans and bridging loans.

Depending on the type of loan, Aussie home loans may offer other potentially useful features, such as offset accounts, redraw facilities and the ability to make extra repayments.

While Aussie offers competitive home loan interest rates and fees, these can vary according to what’s negotiated by the Aussie broker.

Learn more about Aussie

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

What are the responsibilities of a mortgage broker?

Mortgage brokers act as the go-between for borrowers looking for a home loan and the lenders offering the loan. They offer personalised advice to help borrowers choose the right home loan for their needs.

In Australia, mortgage brokers are required by law to carry an Australian Credit License (ACL) if they offer credit assistance services. Which is the legal term for guidance regarding the different kinds of credit offered by lenders, including home loan mortgages. They may not need this license if they are working for an aggregator, for instance, as a franchisee. In both these situations, they need to comply with the regulations laid down by the Australian Securities and Investments Commission (ASIC).

These regulations, which are stipulated by Australian legislation, require mortgage brokers to comply with what are called “responsible lending” and “best interest” obligations. Responsible lending obligations mean brokers have to suggest “suitable” home loans. This means loans that you can easily qualify for,  actually meet your needs, and don’t prove unnecessarily challenging for you.

Starting 1 January 2021, mortgage brokers must comply with best interest obligations in addition to responsible lending obligations. These require mortgage brokers to act in the best interest of their customers and also requires them to prioritise their customers’ interests over their own. For instance, a mortgage broker may not recommend a lender who gives them a commission if that lender’s home loan offer does not benefit that particular customer.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

I can't pick a loan. Should I apply to multiple lenders?

Applying for home loans with multiple lenders at once can affect your credit history, as multiple loan applications in short succession can make you look like a risky borrower. Comparing home loans from different lenders, assessing their features and benefits, and making one application to a preferred lender may help to improve your chances of success

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

Do mortgage brokers need a consumer credit license?

In Australia, mortgage brokers are defined by law as being credit service or assistance providers, meaning that they help borrowers connect with lenders. Mortgage brokers may not always need a consumer credit license however if they’re operating solo they will need an Australian Credit License (ACL). Further, they may also need to comply with requirements asking them to mention their license number in full.

Some mortgage brokers can be “credit representatives”, or franchisees of a mortgage aggregator. In this case, if the aggregator has a license, the mortgage broker need not have one. The reasoning for this is that the franchise agreement usually requires mortgage brokers to comply with the laws applicable to the aggregator. If you’re speaking to a mortgage broker, you can ask them if they receive commissions from lenders, which is a good indicator that they need to be licensed. Consider requesting their license details if they don’t give you the details beforehand. 

You should remember that such a license protects you if you’re given incorrect or misleading advice that results in a home loan application rejection or any financial loss. Brokers are regulated by the Australian Securities & Investment Commission (ASIC), as per the National Consumer Credit Protection (NCCP) Act. 

How to break up with your mortgage broker

If you find a mortgage broker giving you generic advice or trying to sell you a competitive offer from an unsuitable lender, you might be better off  breaking up with the mortgage broker and consulting someone else. Breaking up with a mortgage broker can be done over the phone, or via email. You can also raise a complaint, either with the broker’s aggregator or with the Australian Financial Complaints Authority as necessary.

As licensed industry professionals, mortgage brokers have the responsibility of giving you accurate advice so that you know what to expect when you apply for a home loan. You may have approached the mortgage broker, for instance, because you have questions about the terms of a home loan a lender offered you. 

You should remember that mortgage brokers are obliged by law to act in your best interests and as part of complying with The Australian Securities and Investments Commission’s (ASIC) regulations. If you feel you didn’t get the right advice from the mortgage broker, or that you lost money as a result of accepting the broker’s suggestions regarding a lender or home loan offer, you can file a complaint with the ASIC and seek compensation. 

When you first speak to a mortgage broker, consider asking them about their Lender Panel, which is the list of lenders they usually recommend and who may pay them a commission. This information can help you decide if the advice they give you has anything to do with the remuneration they may receive from one or more lenders.

How do I take out a low-deposit home loan?

If you want to take out a low-deposit home loan, it might be a good idea to consult a mortgage broker who can give you professional financial advice and organise the mortgage for you.

Another way to take out a low-deposit home loan is to do your own research with a comparison website like RateCity. Once you’ve identified your preferred mortgage, you can apply through RateCity or go direct to the lender.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor.