Unlock the equity in your home
If you’re a homeowner, before you put that next big purchase on your credit card, you may want to consider a line of credit on your home loan.
Fixed - 2 years
Interest rate structure
Fixed - 2 years
$20k - $100m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
Estimated upfront fees
Minimum SMSF Amount
Bank of us is one of the oldest financial institutions in Australia. Bank of us boasts more than 35,000 clients and a select number of branches throughout Tasmania.
Launched in 1870 as a building society, with the aspiration of helping local people to own their own homes at a time when there was no public housing in Tasmania, Bank of us has evolved to also offer personal and business banking solutions. Its name changed from B&E Personal Banking in October 2017.
Bank of us home loan calculator
Interested in a Bank of us home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Bank of us compares to its competitors. Simply plug in your borrowing amount below.
If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*
To do this, on your results page you’ll need to securely upload a home loan document or statement from your lender that can be used to confirm the home loan details you provided. This should outline the following information:
We’ll keep your information private and confidential and only use your document to confirm your entry.
A loan-to-value ratio (otherwise known as a Loan to Valuation Ratio or LVR), is a calculation lenders make to work out the value of your loan versus the value of your property, expressed as a percentage. Lenders use this calculation to help assess your suitability for a home loan, and whether you need to pay lender’s mortgage insurance (LMI). As a general rule, most banks will require you to pay LMI if your loan-to-value ratio is 80 per cent or more. LVR is worked out by dividing the loan amount by the value of the property. If you are looking for a quick ball-park estimate of LVR, the size of your deposit is a good indicator as it is directly proportionate to your LVR. For instance, a loan with an LVR of 80 per cent requires a deposit of 20 per cent, while a 90 per cent LVR requires 10 per cent down payment.
LOAN AMOUNT / PROPERTY VALUE = LVR%
While this all sounds simple enough, it is worth doing a more accurate calculation of LVR before you commit to buying a place as there are some traps to be aware of. Firstly, the ‘loan amount’ is the price you paid for the property plus additional costs such as stamp duty and legal fees, minus your deposit amount. Secondly, the ‘property value’ is determined by your lender’s valuation of the property, not the price you paid for it, and sometimes these can differ so where possible, try and get your bank to evaluate the property before you put in an offer.