Coastline Credit Union home loan repayment calculator

Thinking about taking out a home loan with Coastline Credit Union? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Coastline Credit Union 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 2.99 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible home loan products, allowing you to pay your loan down faster which may save you thousands.
  • Access to funds via the Westpac Group ATM network gives you convenience.
  • You become a shareholder when you become a customer, and you get to have a say in how your lender is run.
  • Very high upfront fees for most loan products – and many have an ongoing fee as well.
  • Introductory home loan offers may have high revert rates.
  • Must be a member of the Coastline Credit Union.

Coastline Credit Union home loans rates

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

2.99%

Variable

$600

3.15%

$8 monthly
Coastline Credit Union
More details

3.41%

Variable

$600

3.57%

$8 monthly
Coastline Credit Union
More details

3.61%

Variable

$600

3.77%

$8 monthly
Coastline Credit Union
More details

2.94%

Fixed - 3 years

$600

4.14%

$8 monthly
Coastline Credit Union
More details

4.06%

Variable

$600

4.18%

$5 monthly
Coastline Credit Union
More details

2.74%

Fixed - 2 years

$600

4.22%

$8 monthly
Coastline Credit Union
More details

4.06%

Variable

$600

4.22%

$8 monthly
Coastline Credit Union
More details

2.59%

Fixed - 1 year

$600

4.35%

$8 monthly
Coastline Credit Union
More details

4.36%

Variable

$0

4.36%

$0
Coastline Credit Union
More details

4.21%

Variable

$600

4.37%

$8 monthly
Coastline Credit Union
More details

4.41%

Variable

$600

4.47%

$0
Coastline Credit Union
More details

3.44%

Fixed - 3 years

$600

4.63%

$8 monthly
Coastline Credit Union
More details

3.24%

Fixed - 2 years

$600

4.71%

$8 monthly
Coastline Credit Union
More details

3.44%

Fixed - 3 years

$600

4.71%

$8 monthly
Coastline Credit Union
More details

4.56%

Variable

$600

4.71%

$8 monthly
Coastline Credit Union
More details

3.24%

Fixed - 2 years

$600

4.79%

$8 monthly
Coastline Credit Union
More details

4.66%

Variable

$600

4.81%

$8 monthly
Coastline Credit Union
More details

3.09%

Fixed - 1 year

$600

4.84%

$8 monthly
Coastline Credit Union
More details

4.86%

Variable

$0

4.86%

$0
Coastline Credit Union
More details

3.09%

Fixed - 1 year

$600

4.93%

$8 monthly
Coastline Credit Union
More details

4.91%

Variable

$600

4.97%

$0
Coastline Credit Union
More details

4.64%

Fixed - 2 years

$600

5.05%

$8 monthly
Coastline Credit Union
More details

4.49%

Fixed - 1 year

$600

5.07%

$8 monthly
Coastline Credit Union
More details

4.89%

Fixed - 3 years

$600

5.09%

$8 monthly
Coastline Credit Union
More details

4.96%

Variable

$600

5.11%

$8 monthly
Coastline Credit Union
More details

5.16%

Variable

$600

5.31%

$8 monthly
Coastline Credit Union
More details

5.36%

Variable

$600

5.42%

$0
Coastline Credit Union
More details

Coastline Credit Union customer service

While in branch banking may be difficult, depending on your georgraphic location, Coastline Credit Union does offer the following customer touchpoints.

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

How to Apply

Customers wanting to apply for a Coastline Credit Union home loan can do so by filling out an online application form or phoning the lender. 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 and income.
  • Information regarding your current debts, liabilities and assets including any personal or car loans.

Learn more about Coastline Credit Union

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.

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

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.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

How can I negotiate a better home loan rate?

Negotiating with your bank can seem like a daunting task but if you have been a loyal customer with plenty of equity built up then you hold more power than you think. It’s highly likely your current lender won’t want to let your business go without a fight so if you do your research and find out what other banks are offering new customers you might be able to negotiate a reduction in interest rate, or a reduction in fees with your existing lender.

What is an ombudsman?

An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

How much of the RBA rate cut do lenders pass on to borrowers?

When the Reserve Bank of Australia cuts its official cash rate, there is no guarantee lenders will then pass that cut on to lenders by way of lower interest rates. 

Sometimes lenders pass on the cut in full, sometimes they partially pass on the cut, sometimes they don’t at all. When they don’t, they often defend the decision by saying they need to balance the needs of their shareholders with the needs of their borrowers. 

As the attached graph shows, more recent cuts have seen less lenders passing on the full RBA interest rate cut; the average lender was more likely to pass on about two-thirds of the 25 basis points cut to its borrowers.  image002

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

How does Real Time Ratings work?

Real Time RatingsTM looks at your individual home loan requirements and uses this information to rank every applicable home loan in our database out of five.

This score is based on two main factors – cost and flexibility.

Cost is calculated by looking at the interest rates and fees over the first five years of the loan.

Flexibility is based on whether a loan offers features such as an offset account, redraw facility and extra repayments.

Real Time RatingsTM also includes the following assumptions:

  • Costs are calculated on the current variable rate however they could change in the future.
  • Loans are assumed to be principal and interest
  • Fixed-rate loans with terms greater than five years are still assessed on a five-year basis, so 10-year fixed loans are assessed as being only five years’ long.
  • Break costs are not included.

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

What fees are there when buying a house?

Buying a home comes with ‘hidden fees’ that should be factored in when considering how much the total cost of your new home will be. These can include stamp duty, title registration costs, building inspection fees, loan establishment fee, lenders mortgage insurance (LMI), legal fees and bank valuation costs.

Tip: you can calculate your stamp duty costs as well as LMI in Rate City mortgage repayments calculator

Some of these fees can be taken out of the mix, such as LMI, if you have a big enough deposit or by asking your lender to waive establishment fees for your loan. Even so, fees can run into the thousands of dollars on top of the purchase price.

Keep this in mind when deciding if you are ready to make the move in to the property market.

What is the flexibility score?

Today’s home loans often try to lure borrowers with a range of flexible features, including offset accounts, redraw facilities, repayment frequency options, repayment holidays, split loan options and portability. Real Time Ratings™ weights each of these features based on popularity and gives loans a ‘flexibility score’ based on how much they cater to borrowers’ needs over time. The aim is to give a higher score to loans which give borrowers more features and options.

How can I avoid mortgage insurance?

Lenders mortgage insurance (LMI) can be avoided by having a substantial deposit saved up before you apply for a loan, usually around 20 per cent or more (or a LVR of 80 per cent or less). This amount needs to be considered genuine savings by your lender so it has to have been in your account for three months rather than a lump sum that has just been deposited.

Some lenders may even require a six months saving history so the best way to ensure you don’t end up paying LMI is to plan ahead for your home loan and save regularly.

Tip: You can use RateCity mortgage repayment calculator to calculate your LMI based on your borrowing profile

What is upfront fee?

An ‘upfront’ or ‘application’ fee is a one-off expense you are charged by your bank when you take out a loan. The average start-up fee is around $600 however there are over 1,000 loans on the market with none at all. If the loan you want does include an application fee, try and negotiate to have it waived. You’ll be surprised what your bank agrees to when they want your business.