CUA home loan repayment calculator

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

  • A range of home loans to choose from
  • Suitable for low deposits
  • Parents can act as guarantors for some loans
  • Opportunity to package financial products
  • Flexible repayment schedule with weekly, fortnightly or monthly repayment options
  • Not all products offer offset facilities
  • Some products have upfront and annual fees

CUA home loans rates

Advertised Rate

2.55%

Variable

Total estimated upfront fees
$835
Comparison Rate*

2.60%

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

3.05%

Variable

Total estimated upfront fees
$835
Comparison Rate*

2.69%

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

2.86%

Variable

Total estimated upfront fees
$835
Comparison Rate*

2.91%

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

3.05%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.01%

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

3.21%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.05%

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

3.14%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.19%

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

3.24%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.20%

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

3.64%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.21%

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

3.48%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.44%

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

3.57%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.62%

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

3.67%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.63%

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

2.59%

Fixed - 5 years

Total estimated upfront fees
$835
Comparison Rate*

3.75%

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

3.92%

Variable

Total estimated upfront fees
$835
Comparison Rate*

3.76%

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

1.97%

Fixed - 3 years

Total estimated upfront fees
$835
Comparison Rate*

3.86%

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

2.09%

Fixed - 2 years

Total estimated upfront fees
$835
Comparison Rate*

4.07%

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

2.79%

Fixed - 2 years

Total estimated upfront fees
$835
Comparison Rate*

4.20%

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

2.99%

Fixed - 5 years

Total estimated upfront fees
$835
Comparison Rate*

4.23%

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

3.09%

Fixed - 5 years

Total estimated upfront fees
$835
Comparison Rate*

4.27%

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

2.19%

Fixed - 1 year

Total estimated upfront fees
$835
Comparison Rate*

4.28%

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

2.79%

Fixed - 1 year

Total estimated upfront fees
$835
Comparison Rate*

4.34%

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

2.69%

Fixed - 3 years

Total estimated upfront fees
$835
Comparison Rate*

4.44%

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

2.79%

Fixed - 3 years

Total estimated upfront fees
$835
Comparison Rate*

4.46%

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

2.69%

Fixed - 2 years

Total estimated upfront fees
$835
Comparison Rate*

4.62%

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

2.79%

Fixed - 2 years

Total estimated upfront fees
$835
Comparison Rate*

4.64%

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

2.69%

Fixed - 1 year

Total estimated upfront fees
$835
Comparison Rate*

4.82%

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

2.79%

Fixed - 1 year

Total estimated upfront fees
$835
Comparison Rate*

4.83%

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

5.31%

Variable

Total estimated upfront fees
$835
Comparison Rate*

5.38%

Ongoing fee
$0
Go to site
Company
CUA
More details

CUA customer service

CUA home loan customers can get in touch with the credit union by visiting one of its 60+ branches Australia-wide. Alternatively, customers can contact the customer service centre by phone. Customers can also submit a query through the CUA website or by emailing the lender directly. For straight forward banking transactions CUA customers can use internet banking and their mobile app 24-hours a day.

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

How to apply for a CUA home loan

Home loan enquires can be submitted online and a CUA home loan specialist will provide a call back. Applications can be completed face-to-face in a branch or over the telephone. 

Before you submit a loan application it’s important consider how much you can afford to borrow before making any commitments. 

To support your CUA home loan application, you may need to provide several documents, including:

  • Personal identification
  • Personal income details
  • Details of current debts and assets
  • Information about the property

CUA home loans

CUA caters for a wide variety of mortgage customers, including:

  • First-home buyers
  • Upgraders
  • Refinancers
  • Renovators
  • Those building their own property (Building/Construction loans)
  • Investors
  • Self-employed (low-doc loans)

CUA mortgage customers can choose from a range of interest rate options:

  • Principal and interest
  • Interest-only
  • Variable
  • Fixed
  • Split
  • Line of credit

The longest term offered at CUA on a home loan is 30 years, and its fixed interest rate mortgages range from one to five years. Depending on the loan, some CUA mortgages also include added features, like offset accounts, the ability to make extra repayments, and redraw facilities.

Some CUA home loans also allow a loan top-up, which gives you the ability to use the equity in your property to pay for expenses like renovations, or for a deposit on an investment property.

CUA also offers package home loans, which include benefits and discounts on a range of financial products, including credit cards and insurance.

CUA home loan rates

To compete with the big banks, CUA offers mortgage rates that are generally lower than the market average.

Some of CUA’s lowest rates are found on home loan packages for new customers and refinancers. Owner occupiers and those paying principal and interest tend to receive lower rates than investors and those paying interest only. 

Some of CUA’s mortgages have no ongoing fees, though there are upfront fees to consider. CUA also offers free redraw and extra repayment options on most of its mortgages.

CUA home loan review

CUA’s headquarters are in Queensland, but CUA has 60 branches across the country and offers lower home loan rates and fees than many of its competitors in Australia. Unlike most banks that make profit for shareholders, CUA reinvests its profits and passes the benefits directly on to customers.

In 2017, CUA was named Money Magazine’s credit union of the year, in part because of its low interest rates and excellent customer service.

CUA has a wide variety of mortgages to suit many different borrowers. It offers home loans that let customers borrow up to 95 per cent of their property’s value (LVR), and offers the option for parents to sign on as guarantors.

Unlike some of its competitors, CUA doesn’t offer the option to sign up to a home loan online. Instead, applications need to be done face-to-face at a branch or over the phone.

Learn more about home loans

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).

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.

 

 

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

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 take a personal loan after a home loan?

Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:

  • Higher-income to show repayment capability for both the loans
  • Clear credit history with no delays in bill payments or defaults on debts
  • Zero or minimal current outstanding debt
  • Some amount of savings
  • Proven rent history will be positively perceived by the lenders

A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.

As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.

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.

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.

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. 

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.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

How much deposit do I need for a home loan from ANZ?

Like other mortgage lenders, ANZ often prefers a home loan deposit of 20 per cent or more of the property value when you’re applying for a home loan. It may be possible to get a home loan with a smaller deposit of 10 per cent or even 5 per cent, but there are a few reasons to consider saving a larger deposit if possible:

  • A larger deposit tells a lender that you’re a great saver, which could help increase the chances of your home loan application getting approved.
  • The more money you pay as a deposit, the less you’ll have to borrow in your home loan. This could mean paying off your loan sooner, and being charged less total interest.
  • If your deposit is less than 20 per cent of the property value, you might incur additional costs, such as Lenders Mortgage Insurance (LMI).

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.

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.