Easy Street Financial Services home loan repayment calculator

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

  • Suitable for low deposits.
  • Parents can sign as guarantors on some home loans.
  • Flexible repayment schedule with weekly, fortnightly and monthly repayment options.
  • Some products include numerous fees.
  • No branches.

Easy Street Financial Services home loans rates

Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

2.63

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

2.69

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.34

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.42

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.50

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.53

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.53

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.59

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.66

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.68

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.71

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.75

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.79

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.80

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.83

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.89

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.10

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.92

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.95

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.98

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.05

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

4.09

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.40

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

4.22

% p.a

Ongoing fee
$0
Go to site
More details

Easy Street Financial Services customer service

Easy Street Financial Services has no branches or stores and is a digital only brand. To find out more information about any of Easy Street Financial Services’ products home loan customers must consult the website. Enquiries can also be made via Easy Street Financial Services’ customer service centre. Customers can also get in touch with the lender via email or fax. The Easy Street Financial Services mobile banking app lets customers access most of the features available through their internet banking facility. In spite of having no branches Easy Street Financial Services customers have access to a network of over 3500 ATMs nationwide.

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

How to Apply

To find out more information about any particular home loan product Easy Street Financial Services’ customers can submit their details online to request a call back. Customers can also call the customer service centre at their leisure and use both internet banking and mobile app services 24/7. Customers are also able to apply for Easy Street Financial Services home loans online. As part of the application process home loan customers will be encouraged to calculate how much money they can afford to borrow before committing to their application. To apply for an Easy Street Financial Services home loan customers will need to provide basic documentation that may include:

  • Personal identification.
  • Personal income details.
  • Details of current debts and assets.

About Easy Street home loans

Easy Street offers a more limited range of home loans than many of the big banks and lenders. Because it operates online only, it has lower overheads than many other lenders and can pass on these savings in the form of competitive interest rates.

As a niche lender, Easy Street home loans are suited to borrowers such as first homebuyers, upgraders and investors, and it also accepts low deposit amounts on some home loan products (high LVR loans).

Easy Street’s home loans have a maximum term of 30 years. Its home loans also come with redraw facilities and offset accounts.

Easy Street home loans are available to its members only, which means customers need to pay a small fee to become a member before applying for a home loan. As there are no branches, home loan applications must be completed online.

Easy Street home loan rates

Because Easy Street doesn’t have to outlay the cost of keeping branches open and employing more staff, its home loan rates tend to be very low to moderately low.

Another reason Easy Street offers lower interest rates is because it is owned by its members and doesn’t pay dividends to shareholders.

As is the case for many lenders, Easy Street home loan rates vary depending on the type of home loan and borrower.

Owner-occupiers paying principal and interest get the lowest rates, followed by owner-occupiers paying interest only and investors paying principal and interest. Easy Street doesn’t offer interest-only investment loans.

Easy Street also offers different interest rates depending on whether you want to take out a standard variable-rate mortgage, a one-year fixed mortgage, two-year fixed mortgage or three-year fixed mortgage.

Easy Street home loans review

Easy Street home loans are aimed at customers who are comfortable managing their mortgages online, via email or over the phone rather than being able to speak to an advisor face-to-face in-branch.

Easy Street’s interest rates are typically very low to moderately low – so they allow borrowers to potentially save money over the lifetime of the mortgage. While upfront fees for Easy Street mortgages can be moderately high, ongoing fees tend to be very low.

Because Easy Street home loans come with redraw facilities and offset accounts, they also offer a degree of flexibility that some other lenders don’t match.

Likewise, the low minimum deposit amount on some of Easy Street’s home loans provide options for customers even if they aren’t able to put down the standard 20 per cent deposit.

Learn more about home loans

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.

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.

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 do I apply for a home improvement loan?

When you want to renovate your home, you may need to take out a loan to cover the costs. You could apply for a home improvement loan, which is a personal loan that you use to cover the costs of your home renovations. There is no difference between applying for this type of home improvement loan and applying for a standard personal loan. It would be best to check and compare the features, fees and details of the loan before applying. 

Besides taking out a home improvement loan, you could also:

  1. Use the equity in your house: Equity is the difference between your property’s value and the amount you still owe on your home loan. You may be able to access this equity by refinancing your home loan and then using it to finance your home improvement.  Speak with your lender or a mortgage broker about accessing your equity.
  2. Utilise the redraw facility of your home loan: Check whether the existing home loan has a redraw facility. A redraw facility allows you to access additional funds you’ve repaid into your home loan. Some lenders offer this on variable rate home loans but not on fixed. If this option is available to you, contact your lender to discuss how to access it.
  3. Apply for a construction loan: A construction loan is typically used when constructing a new property but can also be used as a home renovation loan. You may find that a construction loan is a suitable option as it enables you to draw funds as your renovation project progresses. You can compare construction home loans online or speak to a mortgage broker about taking out such a loan.
  4. Look into government grants: Check whether there are any government grants offered when you need the funds and whether you qualify. Initiatives like the HomeBuilder Grant were offered by the Federal Government for a limited period until April 2021. They could help fund your renovations either in full or just partially.  

Can first home buyers apply for an ING home loan?

First home buyers can apply for an ING home loan, but first, they need to select the most suitable home loan product and calculate the initial deposit on their home loan. 

First-time buyers can also use ING’s online tool to estimate the amount they can borrow. ING offers home loan applicants a free property report to look up property value estimates. 

First home loan applicants struggling to understand the terms used may consider looking up ING’s first home buyer guide. Once the home buyer is ready to apply for the loan, they can complete an online application or call ING at 1800 100 258 during regular business hours.

How do I apply for Westpac’s first home buyer loan?

If you’re a first home buyer looking to apply for a home loan with Westpac, they offer an online home loan application. They suggest the application can be completed in about 20 minutes. Based on the information you provide, Westpac will advise you the amount you can borrow and the costs associated with any possible home loan. 

You can use Westpac’s online mortgage calculators to estimate your borrowing power. You can also work out the time it might take to save up for the deposit, and the size of your home loan repayments

When applying for a home loan with Westpac, you’re assigned a home finance manager who can address your concerns and provide information. The manager will also offer guidance on any government grants you may be eligible for. 

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 are the different types of home loan interest rates?

A home loan interest rate is used to calculate how much you’ll pay the lender, usually annually, above the amount you borrow. It’s what the lenders charge you for them lending you money and will impact the total amount you’ll pay over the life of your home loan. 

Having understood what are home loan rates in general, here are the two types you usually have with a home loan:

Fixed rates

These interest rates remain constant for a specific period and are a good option if you’re a first-time buyer or if you’re looking for a fixed monthly repayment. One possible downside of a fixed rate is that it may be higher than a variable rate. Also, you don’t benefit from any lowering of interest rates in the market. On the flip side, if rates go up, your rate won’t change, possibly saving you money.

Variable rates

With variable interest rates, the lender can change them at any time. This change can be based on economic conditions or other reasons. Changes in interest rates could be beneficial if your monthly repayment decreases but can be a problem if it increases. Variable interest rates offer several other benefits often not available with fixed rate home loans like redraw and offset facilities and free extra repayments. 

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 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

Does the Home Loan Rate Promise apply to discounted interest rate offers, such as honeymoon rates?

No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Home Loan Rate Promise.

However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.

How can I apply for a first home buyers loan with Commonwealth Bank?

Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.

 

Where can I get all the information about an ANZ first home buyer’s loan?

As a first home buyer, you may require help and hand-holding, and as such ANZ has the buying your first home section on its website full of important information. ANZ also has a form in this section you can fill out to get a free consultation from an ANZ First Home Coach and create your own plan for buying your first home. This coach will help you understand where your current income is being spent and plan for your home loan repayments. You’ll get a clear picture of the costs involved in purchasing a property and how to budget or save for these costs. The coach will help you understand different deposit options and manage your accounts to enhance your savings.

There are three types of ANZ first home loans - Standard Variable, Fixed, and Equity Manager. The features, interest rates, and terms for each are different, and you can compare them here.

When they apply for an ANZ home loan, first home buyers can also get guidance on applying for the First Home Owner Grant (FHOG). This is a one-off government grant that may be available to you when you’re buying your first home. The eligibility criteria for FHOG differs between the different states and territories, which is why it’s helpful to have expert advice when applying.

How to apply for a pre-approval home loan from Bendigo Bank?

Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork. 

Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home. 

With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances. 

To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.