Credit Union SA home loan repayment calculator

Thinking about taking out a home loan with Credit Union SA? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Credit Union SA 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 2.59%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Variety of flexible home loan features available
  • Low minimum deposit requirement
  • Loan packages available
  • Branch access limited to SA
  • Some loans have application and/or annual fees

Credit Union SA home loans rates

Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

2.61

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

2.61

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.02

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.02

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.21

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.19

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.21

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

1.79

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.33

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.35

% p.a

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.34

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.25

% p.a

Fixed - 4 years

Total estimated upfront fees
$0
Comparison Rate*

3.37

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

1.89

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.46

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.53

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.58

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

1.99

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.59

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.60

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.60

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.64

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.70

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.75

% p.a

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.75

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.65

% p.a

Fixed - 4 years

Total estimated upfront fees
$0
Comparison Rate*

3.78

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.49

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.82

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.80

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.82

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.49

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.92

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

4.02

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.39

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

4.05

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.39

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

4.08

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

4.11

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.39

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.11

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.74

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.14

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.64

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

4.19

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.64

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

4.20

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.21

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.64

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.22

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

4.24

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.84

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.24

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

4.27

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

4.25

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

4.27

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.25

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

4.27

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

4.30

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.32

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.94

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.34

% p.a

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

3.19

% p.a

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.43

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.50

% p.a

Variable

Total estimated upfront fees
$150
Comparison Rate*

4.52

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.50

% p.a

Variable

Total estimated upfront fees
$750
Comparison Rate*

4.56

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.64

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.84

% p.a

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.71

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.76

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.84

% p.a

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.80

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.88

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.79

% p.a

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.88

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.84

% p.a

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.90

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.79

% p.a

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.99

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.95

% p.a

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.01

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.95

% p.a

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.01

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.79

% p.a

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

5.12

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.20

% p.a

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.26

% p.a

Ongoing fee
$0
Go to site
More details

Credit Union SA customer service

Home loan customers at Credit Union SA can contact their lender in multiple ways depending on their needs. Customers can visit a local branch based throughout metropolitan and regional South Australia. They can also contact Credit Union SA through their call centre, as well as use their online services such as contact forms, emails and live chat.  

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

How to Apply

Credit Union SA customers can apply for a home loan online or seek assistance from a customer service representative by phone, email or chat. Before applying for a home loan, it's 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 will include:

  • Personal identification material.
  • Proof of income and other earnings.
  • Proof and type of employment.
  • Details of current loans, debts and liabilities.
  • Personal insurance documents.

Learn more about home loans

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.

Cash or mortgage – which is more suitable to buy an investment property?

Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

Why does Westpac charge an early termination fee for home loans?

The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

How to use the ME Bank reverse mortgage calculator?

You can access the equity in your home to help you fund your needs during your senior years. A ME Bank reverse mortgage allows you to tap into the equity you’ve built up in your home while you continue living in your house. You can also use the funds to pay for your move to a retirement home and repay the loan when you sell the property.

Generally, if you’re 60 years old, you can borrow up to 15 per cent of the property value. If you are older than 75 years, the amount you can access increases to up to 30 per cent. You can use a reverse mortgage calculator to know how much you can borrow.

To take out a ME Bank reverse mortgage, you’ll need to provide information like your age, type of property – house or an apartment, postcode, and the estimated market value of the property. The loan to value ratio (LVR) is calculated based on your age and the property’s value.

How is interest charged on a reverse mortgage from IMB Bank?

An IMB Bank reverse mortgage allows you to borrow against your home equity. You can draw down the loan amount as a lump sum, regular income stream, line of credit or a combination. The interest can either be fixed or variable. To understand the current rates, you can check the lender’s website.

No repayments are required as long as you live in the home. If you sell it or move to a senior living facility, the loan must be repaid in full. In some cases, this can also happen after you have died. Generally, the interest rates for reverse mortgages are higher than regular mortgage loans.

The interest is added to the loan amount and it is compounded. It means you’ll pay interest on the interest you accrue. Therefore, the longer you have the loan, the higher is the interest and the amount you’ll have to repay.

What do people do with a Macquarie Bank reverse?

There are a number of ways people use a Macquarie Bank reverse mortgage. Below are some reasons borrowers tend to release their home’s equity via a reverse mortgage:

  • To top up superannuation or pension income to pay for monthly bills;
  • To consolidate and repay high-interest debt like credit cards or personal loans;
  • To fund renovations, repairs or upgrades to their home
  • To help your children or grandkids through financial difficulties. 

While there are no limitations on how you can use a Macquarie reverse mortgage loan, a reverse mortgage is not right for all borrowers. Reverse mortgages compound the interest, which means you end up paying interest on your interest. They can also affect your entitlement to things like the pension It’s important to think carefully, read up and speak with your family before you apply for a reverse mortgage.

When do mortgage payments start after settlement?

Generally speaking, your first mortgage payment falls due one month after the settlement date. However, this may vary based on your mortgage terms. You can check the exact date by contacting your lender.

Usually your settlement agent will meet the seller’s representatives to exchange documents at an agreed place and time. The balance purchase price is paid to the seller. The lender will register a mortgage against your title and give you the funds to purchase the new home.

Once the settlement process is complete, the lender allows you to draw down the loan. The loan amount is debited from your loan account. As soon as the settlement paperwork is sorted, you can collect the keys to your new home and work your way through the moving-in checklist.

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.

Can I get a home renovation loan with bad credit?

If you're looking for funds to pay for repairs or renovations to your home, but you have a low credit score, you need to carefully consider your options. If you already have a mortgage, a good starting point is to check whether you can redraw money from that. You could also consider applying for a new home loan. 

Before taking out a new loan, it’s good to note that lenders are likely to charge higher interest rates on home repair loans for bad credit customers. Alternatively, they may be willing to lend you a smaller amount than a standard loan. You may also face some challenges with getting your home renovation loan application approved. If you do run into trouble, you can speak to your lender and ask whether they would be willing to approve your application if you have a guarantor or co-signer. You should also explain the reasons behind your bad credit rating and the steps that you’re taking to improve it. 

Consulting a financial advisor or mortgage broker can help you understand your options and make the right choice.

What is a credit file?

A comprehensive summary of your credit history from an authorised credit reporting agency.

It includes your credit details, credit taken in the last five years, any default payments or credit infringements, arrears, repayment history, bankruptcy filings and a list of credit applications (including unapproved credit applications) in addition to your personal details.

How can I qualify for a joint home loan if my partner has bad credit?

As a couple, it's entirely possible that the credit scores of you and your partner could affect your financial future, especially if you apply for a joint home loan. When applying for a joint home loan, if one has bad credit, there may be steps that can help you to qualify even with bad credit, including:

  • Saving for a higher deposit, ideally 20 per cent or more. Keep in mind:  a borrowed amount of less than 80 per cent of the property value also saves the cost of Lender's Mortgage Insurance (LMI).
  • Consistent employment records, regular savings habits, and an economical lifestyle can help prove financial stability and responsibility. These can improve your chances of approval even if there are some negative marks on a credit report.
  • Delaying your decision to buy a property until your partner’s credit score improves. Alternatively, you may want to consider a solo application.

While these tips may assist, if you find this overwhelming, consider consulting an expert advisor who can offer personal guidance based on your financial situation.

What are the features of home loans for expats from Westpac?

If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

When does Commonwealth Bank charge an early exit fee?

When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

  • If you switch your loan from fixed interest to variable rate
  • When you apply for a top-up home loan
  • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
  • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

Am I guaranteed to be approved for all the loans I’m shown?

No. While we will do our best to show a list of loans that may suit your needs, if you choose to apply to refinance, it is up to the lender to approve or disapprove your loan based on your individual circumstances, after you have submitted all your paperwork.

This can sometimes take up to 30 days, so it is important to find out exactly what the criteria is for the loan, and what you need in terms of paperwork. RateCity does not make any suggestions taking into account your personal and individual needs.