bcu home loan repayment calculator

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

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 5.00%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Flexible repayment options.
  • Interest-only payments available.
  • Discounted interest rates on variable loans.
  • Limited branch access.
  • High standard variable rate.

bcu home loans rates

Advertised Rate

2.59%

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.59%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.04%

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.83%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.09%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.09%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.19%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.13%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.44%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.44%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.50%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.46%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.49%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.50%

Ongoing fee
$0
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Company
BCU
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Product
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.52%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.60%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.60%

Ongoing fee
$0
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Company
BCU
More details
Product
Advertised Rate

2.06%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.61%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.70%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.64%

Ongoing fee
$0
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Company
BCU
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Advertised Rate

3.65%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.66%

Ongoing fee
$0
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Company
BCU
More details
Product
Advertised Rate

2.79%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.69%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.49%

Fixed - 4 years

Total estimated upfront fees
$0
Comparison Rate*

3.70%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.72%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.89%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.73%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.56%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.74%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

1.98%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.76%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.26%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.77%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.36%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.80%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.18%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.92%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.28%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.94%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.19%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.96%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.01%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.39%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.12%

Ongoing fee
$0
Go to site
Company
BCU
More details
Product
Advertised Rate

2.49%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.13%

Ongoing fee
$0
Go to site
Company
BCU
More details
Advertised Rate

4.14%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.14%

Ongoing fee
$0
Go to site
Company
BCU
More details
Advertised Rate

4.20%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.16%

Ongoing fee
$0 annually
Go to site
Company
BCU
More details
Advertised Rate

4.19%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.20%

Ongoing fee
$0
Go to site
Company
BCU
More details
Advertised Rate

4.30%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.30%

Ongoing fee
$0
Go to site
Company
BCU
More details
Advertised Rate

4.40%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.34%

Ongoing fee
$0
Go to site
Company
BCU
More details
Advertised Rate

4.35%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.36%

Ongoing fee
$0
Go to site
Company
BCU
More details

bcu customer service

Home loan customers can contact bcu in a variety of ways. There is a general service phone line and customers can also contact the bank online, via email or request a call back from a bcu home loan specialist. For those wanting more immediate contact, they can meet with bcu staff at their branches in New South Wales and Queensland.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch
  • Mobile banking staff

How to Apply

bcu gives potential customers a number of methods of applying for a home loan product. Customers can apply via an online form, by email, mail or fax, or by phone. They can also visit a bcu branch and apply in person. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This may include:

  • Personal identification material
  • Proof of employment
  • Proof of income, earnings and assets
  • Information on expenses, liabilities and other loans

Learn more about home loans

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

How long does Bankwest take to approve home loans?

Full approval for a home loan usually involves a property valuation, which, Bankwest suggests, can take “a week or two”. As a result, getting your home loan approved may take longer. However, you may get full approval within this time if you applied for and received conditional approval, sometimes called a pre-approval, from Bankwest before finalising the home you want to buy.  

Another way of speeding up approvals can be by completing, signing, and submitting your home loan application digitally. Essentially, you give the bank or your mortgage broker a copy of your home’s sale contract and then complete the rest of the steps online. Bankwest has claimed this cuts the approval time to less than four days, although this may only happen if your income and credit history can be verified easily, or if your home’s valuation doesn’t take time.

Can I get a NAB home loan on casual employment?

While many lenders consider casual employees as high-risk borrowers because of their fluctuating incomes, there are a few specialist lenders, such as NAB, which may provide home loans to individuals employed on a casual basis. A NAB home loan for casual employment is essentially a low doc home loan specifically designed to help casually employed individuals who may be unable to provide standard financial documents. However, since such loans are deemed high risk compared to regular home loans, you could be charged higher rates and receive lower maximum LVRs (Loan to Value Ratio, which is the loan amount you can borrow against the value of the property).

While applying for a home loan as a casual employee, you will likely be asked to demonstrate that you've been working steadily and might need to provide group certificates for the last two years. It is at the lender’s discretion to pick either of the two group certificates and consider that to be your income. If you’ve not had the same job for several years, providing proof of income could be a bit of a challenge for you. In this scenario, some lenders may rely on your year to date (YTD) income, and instead calculate your yearly income from that.

Why should I get an ING home loan pre-approval?

When you apply for an ING home loan pre-approval, you might be required to provide proof of employment and income, savings, as well as details on any on-going debts. The lender could also make a credit enquiry against your name. If you’re pre-approved, you will know how much money ING is willing to lend you. 

Please note, however, that a pre-approval is nothing more than an idea of your ability to borrow funds and is not the final approval. You should receive the home loan approval  only after finalising the property and submitting a formal loan application to the lender, ING. Additionally, a pre-approval does not stay valid indefinitely, since your financial circumstances and the home loan market could change overnight.

 

 

Can I change jobs while I am applying for a home loan?

Whether you’re a new borrower or you’re refinancing your home loan, many lenders require you to be in a permanent job with the same employer for at least 6 months before applying for a home loan. Different lenders have different requirements. 

If your work situation changes for any reason while you’re applying for a mortgage, this could reduce your chances of successfully completing the process. Contacting the lender as soon as you know your employment situation is changing may allow you to work something out. 

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 can I get ANZ home loan pre-approval?

Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

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 debt service ratio?

A method of gauging a borrower’s home loan serviceability (ability to afford home loan repayments), the debt service ratio (DSR) is the fraction of an applicant’s income that will need to go towards paying back a loan. The DSR is typically expressed as a percentage, and lenders may decline loans to borrowers with too high a DSR (often over 30 per cent).

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 do I refinance my home loan?

Refinancing your home loan can involve a bit of paperwork but if you are moving on to a lower rate, it can save you thousands of dollars in the long-run. The first step is finding another loan on the market that you think will save you money over time or offer features that your current loan does not have. Once you have selected a couple of loans you are interested in, compare them with your current loan to see if you will save money in the long term on interest rates and fees. Remember to factor in any break fees and set up fees when assessing the cost of switching.

Once you have decided on a new loan it is simply a matter of contacting your existing and future lender to get the new loan set up. Beware that some lenders will revert your loan back to a 25 or 30 year term when you refinance which may mean initial lower repayments but may cost you more in the long run.

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. 

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.

How much money can I borrow for a home loan?

Tip: You can use RateCity how much can I borrow calculator to get a quick answer.

How much money you can borrow for a home loan will depend on a number of factors including your employment status, your income (and your partner’s income if you are taking out a joint loan), the size of your deposit, your living expenses and any other debt you might hold, including credit cards. 

A good place to start is to work out how much you can afford to make in monthly repayments, factoring in a buffer of at least 2 – 3 per cent to allow for interest rate rises along the way. You’ll also need to factor in additional costs that come with purchasing a property such as stamp duty, legal fees, building inspections, strata or council fees.

If you are planning on renting the property, you can factor in the expected rental income to help offset the mortgage, but again it’s prudent to add a significant buffer to allow for rental management fees, maintenance costs and short periods of no rental income when tenants move out. It’s also wise to factor in changes in personal circumstances – the typical home loan lasts for around 30 years and a lot can happen between now and then.