Gateway Bank home loan repayment calculator

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

  • Large variety of home loan products.
  • Flexible loan terms.
  • Competitive interest rates.
  • Limited branch network.
  • Some package products include fees.

Gateway Bank home loans rates

Advertised Rate

2.55%

Variable

Total estimated upfront fees
$275
Comparison Rate*

2.58%

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

2.64%

Variable

Total estimated upfront fees
$275
Comparison Rate*

2.67%

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

2.59%

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.93%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.99%

Variable

Total estimated upfront fees
$275
Comparison Rate*

3.02%

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

2.70%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.04%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.01%

Variable

Total estimated upfront fees
$275
Comparison Rate*

3.04%

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

2.90%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.23%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.04%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.27%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.23%

Variable

Total estimated upfront fees
$800
Comparison Rate*

3.29%

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

2.18%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.39%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.38%

Variable

Total estimated upfront fees
$275
Comparison Rate*

3.40%

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

2.84%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.41%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.40%

Variable

Total estimated upfront fees
$275
Comparison Rate*

3.42%

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

3.15%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.48%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.29%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.49%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.25%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.58%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.60%

Variable

Total estimated upfront fees
$275
Comparison Rate*

3.62%

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

2.49%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.65%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.35%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.67%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.49%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.73%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.42%

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.74%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.19%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.76%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.85%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.19%

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.85%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.29%

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.85%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.89%

Fixed - 5 years

Total estimated upfront fees
$800
Comparison Rate*

3.87%

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

3.19%

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.89%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

3.59%

Fixed - 5 years

Total estimated upfront fees
$0
Comparison Rate*

3.92%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.39%

Fixed - 3 years

Total estimated upfront fees
$800
Comparison Rate*

3.96%

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

2.29%

Fixed - 2 years

Total estimated upfront fees
$800
Comparison Rate*

4.10%

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

2.49%

Fixed - 1 year

Total estimated upfront fees
$800
Comparison Rate*

4.31%

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

4.43%

Variable

Total estimated upfront fees
$800
Comparison Rate*

4.49%

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

3.39%

Fixed - 5 years

Total estimated upfront fees
$800
Comparison Rate*

4.50%

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

4.27%

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.58%

Ongoing fee
$299 annually
Go to site
Company
Gateway Bank
More details
Advertised Rate

2.99%

Fixed - 3 years

Total estimated upfront fees
$800
Comparison Rate*

4.66%

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

2.99%

Fixed - 2 years

Total estimated upfront fees
$800
Comparison Rate*

4.83%

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

4.69%

Fixed - 5 years

Total estimated upfront fees
$800
Comparison Rate*

5.03%

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

3.09%

Fixed - 1 year

Total estimated upfront fees
$800
Comparison Rate*

5.04%

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

4.49%

Fixed - 3 years

Total estimated upfront fees
$800
Comparison Rate*

5.05%

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

5.03%

Variable

Total estimated upfront fees
$275
Comparison Rate*

5.05%

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

4.39%

Fixed - 2 years

Total estimated upfront fees
$800
Comparison Rate*

5.09%

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

4.29%

Fixed - 1 year

Total estimated upfront fees
$800
Comparison Rate*

5.15%

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

5.15%

Variable

Total estimated upfront fees
$800
Comparison Rate*

5.21%

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

5.18%

Variable

Total estimated upfront fees
$800
Comparison Rate*

5.24%

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

5.18%

Variable

Total estimated upfront fees
$800
Comparison Rate*

5.24%

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

5.61%

Variable

Total estimated upfront fees
$800
Comparison Rate*

5.31%

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

5.43%

Variable

Total estimated upfront fees
$275
Comparison Rate*

5.45%

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

5.67%

Variable

Total estimated upfront fees
$800
Comparison Rate*

5.73%

Ongoing fee
$0
Go to site
Company
Gateway Bank
More details

Gateway Bank customer service

Gateway Bank has one branch located in its Sydney head office. Borrowers outside of Sydney can contact the bank by calling the customer support number during business hours, Monday through till Friday. There is an additional hotline for lost or stolen cards as well as a telephone banking hotline. Gateway members have access to online banking and the Gateway 2go mobile banking app.

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

How to Apply

Borrowers wanting to apply for a Gateway Bank home loan can either complete a loan application form online or call customer support for assistance with the application. Before applying for a Gateway Bank home loan, think about what you can afford to borrow and what other costs you need to consider. To apply for this Gateway Bank home loan, you will need to supply the following information:

  • Proof of identification.
  • Proof of income and employment.
  • Information regarding your current debts, assets and liabilities.

Learn more about home loans

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

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).

Can I get a NAB home loan on casual employment?

While many lenders consider casual employees as high-risk borrowers because of their fluctuating incomes, there are a few specialist lenders, such as NAB, which may provide home loans to individuals employed on a casual basis. A NAB home loan for casual employment is essentially a low doc home loan specifically designed to help casually employed individuals who may be unable to provide standard financial documents. However, since such loans are deemed high risk compared to regular home loans, you could be charged higher rates and receive lower maximum LVRs (Loan to Value Ratio, which is the loan amount you can borrow against the value of the property).

While applying for a home loan as a casual employee, you will likely be asked to demonstrate that you've been working steadily and might need to provide group certificates for the last two years. It is at the lender’s discretion to pick either of the two group certificates and consider that to be your income. If you’ve not had the same job for several years, providing proof of income could be a bit of a challenge for you. In this scenario, some lenders may rely on your year to date (YTD) income, and instead calculate your yearly income from that.

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 Westpac offer loan maternity leave options?

Having a baby or planning for one can bring about a lot of changes in your life, including to the hip pocket. You may need to re-do the budget to make sure you can afford the upcoming expenses, especially if one partner is taking parental leave to look after the little one. 

Some families find it difficult to meet their home loan repayment obligations during this period. Flexible options, such as the Westpac home loan maternity leave offerings, have been put together to help reduce the pressure of repayments during parental leave.

Westpac offers a couple of choices, depending on your circumstances:

  • Parental Leave Mortgage Repayment Reduction: You could get your home loan repayments reduced for up to 12 months for home loans with a term longer than a year. 
  • Mortgage Repayment Pause: You can pause repayments while on maternity leave, provided you’ve made additional repayments earlier.

When applying for a home loan while pregnant, Westpac has said it will recognise paid maternity leave and back-to-work salaries. All you need is a letter from your employer verifying your return-to-work date and the nature of your employment. Your partner’s income, government entitlements, savings and investments will may help your application.

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.

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.

Can I apply for an ANZ non-resident home loan? 

You may be eligible to apply for an ANZ non-resident home loan only if you meet the following two conditions:

  1. You hold a Temporary Skill Shortage (TSS) visa or its predecessor, the Temporary Skilled Work (subclass 457) visa.
  2. Your job is included in the Australian government’s Medium and Long Term Strategic Skills List. 

However, non-resident home loan applications may need Foreign Investment Review Board (FIRB) approval in addition to meeting ANZ’s Mortgage Credit Requirements. Also, they may not be eligible for loans that require paying for Lender’s Mortgage Insurance (LMI). As a result, you may not be able to borrow more than 80 per cent of your home’s value. However, you can apply as a co-borrower with your spouse if they are a citizen of either Australia or New Zealand, or are a permanent resident.

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 NAB home loan approval take?

The time required to get your home loan from NAB approved can vary based on a number of factors involved in the application process. 

Once you have applied for a home loan, a NAB specialist will contact you within 24 hours over the phone to take down relevant information, including your total income, debts (existing loans, credit cards, etc.), assets (car, shares, etc.), and your monthly expenses (food, utility bills, etc.). Your lender might also ask for information related to the property you want to purchase, including the type of dwelling and preferred postcode.

NAB will then verify all your information and check your credit score, and if the details stack up, you should be given a conditional approval certificate. This certificate stipulates how much money NAB is willing to lend you and is typically valid for 90 days. 

Once you have your conditional approval, you can start browsing for properties that you like and that fit within the budget that NAB has provided. After you find a suitable property, you’ll need to give a copy of the signed deed to NAB, following which you should get full approval and access to the funds. This process can take up to 4-6 weeks. 

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.

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

The right deposit size to get a home loan with an Australian lender will depend on the lender’s eligibility criteria and the value of your property.

Generally, lenders look favourably on applicants who save up a 20 per cent deposit for their property This also means applicants do not have to pay Lenders Mortgage Insurance (LMI). However, you may still be able to obtain a mortgage with a 10 - 15 per cent deposit.  

Keep in mind that NAB is one of the participating lenders for the First Home Loan Deposit Scheme, which allows eligible borrowers to buy a property with as low as a 5 per cent deposit without paying the LMI. The Federal Government guarantees up to 15 per cent of the deposit to help first-timers to become homeowners.

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 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.