Endeavour Mutual Bank home loan repayment calculator

Thinking about taking out a home loan with Endeavour Mutual Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Endeavour Mutual Bank 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 2.28 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible loan features.
  • Broad range of home loans.
  • No ongoing fees on most loans.
  • Online home loan application.
  • Must be a member.
  • Limited home loan products from which to choose.
  • Limited branch access.

Endeavour Mutual Bank home loans rates

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

2.28%

Fixed - 3 years

$250

2.86%

$0
Endeavour Mutual Bank
More details

2.28%

Fixed - 3 years

$286

2.86%

$0
Endeavour Mutual Bank
More details

2.28%

Fixed - 3 years

$250

2.86%

$0
Endeavour Mutual Bank
More details

2.39%

Fixed - 3 years

$586

2.89%

$0
Endeavour Mutual Bank
More details

2.87%

Variable

$286

2.90%

$0
Endeavour Mutual Bank
More details

2.28%

Fixed - 2 years

$286

2.91%

$0
Endeavour Mutual Bank
More details

2.28%

Fixed - 2 years

$250

2.91%

$0
Endeavour Mutual Bank
More details

2.28%

Fixed - 2 years

$250

2.91%

$0
Endeavour Mutual Bank
More details

2.87%

Variable

$586

2.93%

$0
Endeavour Mutual Bank
More details

2.87%

Variable

$586

2.93%

$0
Endeavour Mutual Bank
More details

2.44%

Fixed - 2 years

$586

2.94%

$0
Endeavour Mutual Bank
More details

2.44%

Fixed - 1 year

$286

2.98%

$0
Endeavour Mutual Bank
More details

2.97%

Variable

$586

3.00%

$0
Endeavour Mutual Bank
More details

2.94%

Fixed - 5 years

$586

3.02%

$0
Endeavour Mutual Bank
More details

2.97%

Variable

$586

3.03%

$0
Endeavour Mutual Bank
More details

2.97%

Variable

$586

3.03%

$0
Endeavour Mutual Bank
More details

2.53%

Fixed - 3 years

$286

3.29%

$0
Endeavour Mutual Bank
More details

2.53%

Fixed - 3 years

$250

3.29%

$0
Endeavour Mutual Bank
More details

2.64%

Fixed - 3 years

$286

3.32%

$0
Endeavour Mutual Bank
More details

2.53%

Fixed - 2 years

$250

3.37%

$0
Endeavour Mutual Bank
More details

2.53%

Fixed - 2 years

$286

3.37%

$0
Endeavour Mutual Bank
More details

2.69%

Fixed - 2 years

$286

3.40%

$0
Endeavour Mutual Bank
More details

3.19%

Fixed - 5 years

$286

3.42%

$0
Endeavour Mutual Bank
More details

2.69%

Fixed - 1 year

$286

3.46%

$0
Endeavour Mutual Bank
More details

2.73%

Fixed - 3 years

$250

3.47%

$0
Endeavour Mutual Bank
More details

2.73%

Fixed - 3 years

$286

3.47%

$0
Endeavour Mutual Bank
More details

2.84%

Fixed - 3 years

$286

3.49%

$0
Endeavour Mutual Bank
More details

2.73%

Fixed - 2 years

$286

3.51%

$0
Endeavour Mutual Bank
More details

2.73%

Fixed - 2 years

$250

3.51%

$0
Endeavour Mutual Bank
More details

2.89%

Fixed - 2 years

$286

3.53%

$0
Endeavour Mutual Bank
More details

3.47%

Variable

$286

3.53%

$0
Endeavour Mutual Bank
More details

3.39%

Fixed - 5 years

$286

3.56%

$0
Endeavour Mutual Bank
More details

2.89%

Fixed - 1 year

$286

3.57%

$0
Endeavour Mutual Bank
More details

3.57%

Variable

$286

3.61%

$0
Endeavour Mutual Bank
More details

4.10%

Variable

$586

4.14%

$0
Endeavour Mutual Bank
More details

Endeavour Mutual Bank customer service

Endeavour Mutual Bank has branches in Sydney, Newcastle and Gosford. Members can also call the service centre for personal service or also access accounts immediately via a national network of ATMs, as well as internet and telephone banking facilities 24/7.

  • Customer service centre 24 hours (phone)
  • Online banking
  • Mobile app
  • Email inquiries
  • NSW branch network

How to Apply

You can join the mutual bank as part of the process of applying for a loan, or join independently by paying a member shareholder contribution. You will need to provide and verify identification documents to support your application. Documents you will need include:

  • Personal identification material.
  • Proof of income – whether you are self-employed or work for an employer.
  • Proof of other income, including rental income.
  • Information regarding your current debts, liabilities and assets.

Learn more about Endeavour Mutual Bank

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.

Does Australia have no cost refinancing?

No Cost Refinancing is an option available in the US where the lender or broker covers your switching costs, such as appraisal fees and settlement costs. Unfortunately, no cost refinancing isn’t available in Australia.

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. 

Can I get a home loan if I am on an employment contract?

Some lenders will allow you to apply for a mortgage if you are a contractor or freelancer. However, many lenders prefer you to be in a permanent, ongoing role, because a more stable income means you’re more likely to keep up with your repayments.

If you’re a contractor, freelancer, or are otherwise self-employed, it may still be possible to apply for a low-doc home loan, as these mortgages require less specific proof of income.

Will I have to pay lenders' mortgage insurance twice if I refinance?

If your deposit was less than 20 per cent of your property’s value when you took out your original loan, you may have paid lenders’ mortgage insurance (LMI) to cover the lender against the risk that you may default on your repayments. 

If you refinance to a new home loan, but still don’t have enough deposit and/or equity to provide 20 per cent security, you’ll need to pay for the lender’s LMI a second time. This could potentially add thousands or tens of thousands of dollars in upfront costs to your mortgage, so it’s important to consider whether the financial benefits of refinancing may be worth these costs.

Is there a limit to how many times I can refinance?

There is no set limit to how many times you are allowed to refinance. Some surveyed RateCity users have refinanced up to three times.

However, if you refinance several times in short succession, it could affect your credit score. Lenders assess your credit score when you apply for new loans, so if you end up with bad credit, you may not be able to refinance if and when you really need to.

Before refinancing multiple times, consider getting a copy of your credit report and ensure your credit history is in good shape for future refinances.

I have a poor credit rating. Am I still able to get a mortgage?

Some lenders still allow you to apply for a home loan if you have impaired credit. However, you may pay a slightly higher interest rate and/or higher fees. This is to help offset the higher risk that you may default on your repayments.

I can't pick a loan. Should I apply to multiple lenders?

Applying for home loans with multiple lenders at once can affect your credit history, as multiple loan applications in short succession can make you look like a risky borrower. Comparing home loans from different lenders, assessing their features and benefits, and making one application to a preferred lender may help to improve your chances of success

Will I be paying two mortgages at once when I refinance?

No, given the way the loan and title transfer works, you will not have to pay two mortgages at the one time. You will make your last monthly repayment on loan number one and then the following month you will start paying off loan number two.

If I don't like my new lender after I refinance, can I go back to my previous lender?

If you wish to return to your previous lender after refinancing, you will have to go through the refinancing process again and pay a second set of discharge and upfront fees. 

Therefore, before you refinance, it’s important to weigh up the new prospective lender against your current lender in a number of areas, including fees, flexibility, customer service and interest rate.

Can I refinance if I have other products bundled with my home loan?

If your home loan was part of a package deal that included access to credit cards, transaction accounts or term deposits from the same lender, switching all of these over to a new lender can seem daunting. However, some lenders offer to manage part of this process for you as an incentive to refinance with them – contact your lender to learn more about what they offer.

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 to break up with your mortgage broker

If you find a mortgage broker giving you generic advice or trying to sell you a competitive offer from an unsuitable lender, you might be better off  breaking up with the mortgage broker and consulting someone else. Breaking up with a mortgage broker can be done over the phone, or via email. You can also raise a complaint, either with the broker’s aggregator or with the Australian Financial Complaints Authority as necessary.

As licensed industry professionals, mortgage brokers have the responsibility of giving you accurate advice so that you know what to expect when you apply for a home loan. You may have approached the mortgage broker, for instance, because you have questions about the terms of a home loan a lender offered you. 

You should remember that mortgage brokers are obliged by law to act in your best interests and as part of complying with The Australian Securities and Investments Commission’s (ASIC) regulations. If you feel you didn’t get the right advice from the mortgage broker, or that you lost money as a result of accepting the broker’s suggestions regarding a lender or home loan offer, you can file a complaint with the ASIC and seek compensation. 

When you first speak to a mortgage broker, consider asking them about their Lender Panel, which is the list of lenders they usually recommend and who may pay them a commission. This information can help you decide if the advice they give you has anything to do with the remuneration they may receive from one or more lenders.

Do mortgage brokers need a consumer credit license?

In Australia, mortgage brokers are defined by law as being credit service or assistance providers, meaning that they help borrowers connect with lenders. Mortgage brokers may not always need a consumer credit license however if they’re operating solo they will need an Australian Credit License (ACL). Further, they may also need to comply with requirements asking them to mention their license number in full.

Some mortgage brokers can be “credit representatives”, or franchisees of a mortgage aggregator. In this case, if the aggregator has a license, the mortgage broker need not have one. The reasoning for this is that the franchise agreement usually requires mortgage brokers to comply with the laws applicable to the aggregator. If you’re speaking to a mortgage broker, you can ask them if they receive commissions from lenders, which is a good indicator that they need to be licensed. Consider requesting their license details if they don’t give you the details beforehand. 

You should remember that such a license protects you if you’re given incorrect or misleading advice that results in a home loan application rejection or any financial loss. Brokers are regulated by the Australian Securities & Investment Commission (ASIC), as per the National Consumer Credit Protection (NCCP) Act. 

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.