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Owner occupied G&C Mutual Bank home loan rates

Loan typePrincipal & Interest rateInterest Only
Choice Home Loan (Min Deposit 5%)

Interest Rate

4.24% p.a.

Comparison Rate

4.27% p.a.

Interest Rate

4.24% p.a.

Comparison Rate

4.26% p.a.

1 Year Fixed Rate Home Loan (Min Deposit 5%)

Interest Rate

5.39% p.a.

Comparison Rate

5.45% p.a.

Interest Rate

6.04% p.a.

Comparison Rate

6.09% p.a.

Standard Variable (Min Deposit 5%)

Interest Rate

6.25% p.a.

Comparison Rate

6.31% p.a.

Interest Rate

6.4% p.a.

Comparison Rate

6.45% p.a.

2 Year Fixed Rate Home Loan (Min Deposit 5%)

Interest Rate

5.94% p.a.

Comparison Rate

6% p.a.

Interest Rate

6.64% p.a.

Comparison Rate

6.69% p.a.

Equity Line (Min Deposit 20%)
n/a

Interest Rate

6.79% p.a.

Comparison Rate

6.84% p.a.

3 Year Fixed Rate Home Loan (Min Deposit 5%)

Interest Rate

4.99% p.a.

Comparison Rate

5.05% p.a.

Interest Rate

6.94% p.a.

Comparison Rate

6.99% p.a.

4 Year Fixed Rate Home Loan (Min Deposit 5%)

Interest Rate

6.74% p.a.

Comparison Rate

6.81% p.a.

Interest Rate

7.04% p.a.

Comparison Rate

7.09% p.a.

5 Year Fixed Rate Home Loan (Min Deposit 5%)

Interest Rate

6.94% p.a.

Comparison Rate

7.01% p.a.

Interest Rate

7.14% p.a.

Comparison Rate

7.19% p.a.

Momentum Home Loan (Min Deposit 40%)

Interest Rate

3.24% p.a.

Comparison Rate

3.26% p.a.

n/a
Momentum Home Loan (Min Deposit 20%)

Interest Rate

3.34% p.a.

Comparison Rate

3.36% p.a.

n/a
First Home Buyer Loan (Min Deposit 5%)

Interest Rate

3.44% p.a.

Comparison Rate

3.47% p.a.

n/a
Momentum Home Loan (Min Deposit 5%)

Interest Rate

3.44% p.a.

Comparison Rate

3.47% p.a.

n/a

Investment purpose G&C Mutual Bank home loan rates

Loan typePrincipal & Interest rateInterest Only
Momentum Home Loan (Min Deposit 40%)

Interest Rate

3.64% p.a.

Comparison Rate

3.67% p.a.

Interest Rate

3.64% p.a.

Comparison Rate

3.67% p.a.

Momentum Home Loan (Min Deposit 20%)

Interest Rate

3.74% p.a.

Comparison Rate

3.77% p.a.

Interest Rate

3.74% p.a.

Comparison Rate

3.77% p.a.

Momentum Home Loan (Min Deposit 10%)

Interest Rate

3.84% p.a.

Comparison Rate

3.87% p.a.

Interest Rate

3.84% p.a.

Comparison Rate

3.87% p.a.

Choice Investment Loan (Min Deposit 10%)

Interest Rate

4.54% p.a.

Comparison Rate

4.57% p.a.

Interest Rate

4.54% p.a.

Comparison Rate

4.56% p.a.

1 Year Fixed Rate Home Loan (Min Deposit 10%)

Interest Rate

5.59% p.a.

Comparison Rate

5.65% p.a.

Interest Rate

5.84% p.a.

Comparison Rate

5.89% p.a.

2 Year Fixed Rate Home Loan (Min Deposit 10%)

Interest Rate

6.14% p.a.

Comparison Rate

6.2% p.a.

Interest Rate

6.54% p.a.

Comparison Rate

6.59% p.a.

Standard Variable (Min Deposit 10%)

Interest Rate

6.71% p.a.

Comparison Rate

6.78% p.a.

Interest Rate

6.91% p.a.

Comparison Rate

6.96% p.a.

3 Year Fixed Rate Home Loan (Min Deposit 10%)

Interest Rate

6.74% p.a.

Comparison Rate

6.81% p.a.

Interest Rate

6.99% p.a.

Comparison Rate

7.04% p.a.

Equity Line (Min Deposit 20%)
n/a

Interest Rate

7.04% p.a.

Comparison Rate

7.09% p.a.

4 Year Fixed Rate Home Loan (Min Deposit 10%)

Interest Rate

6.94% p.a.

Comparison Rate

7% p.a.

Interest Rate

7.19% p.a.

Comparison Rate

7.24% p.a.

5 Year Fixed Rate Home Loan (Min Deposit 10%)

Interest Rate

7.04% p.a.

Comparison Rate

7.11% p.a.

Interest Rate

7.29% p.a.

Comparison Rate

7.34% p.a.

G&C Mutual Bank home loan calculator

Thinking about taking out a home loan with G&C 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 G&C Mutual 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 3.24%

Total interest payable

$0

Total loan repayments

$0

Learn more about home loans

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.

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.

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.

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. 

Can you remove a cosigner from a home loan?

Taking out a home loan is an act of financial responsibility and a cosigner on a home loan shares that responsibility. For this reason, removing a cosigner from a home loan may not be straightforward. Usually, you can add a cosigner, or become a cosigner, when applying for the home loan. In such a circumstance, the lender may ask you to stipulate the conditions for a cosigner release, which are the terms for removing a cosigner from the home loan. For instance, you may agree that you can remove a cosigner once half the loan amount has been repaid.

However, not stipulating such conditions doesn’t mean it’s impossible to remove a cosigner. If the primary home loan applicant has a sufficiently high credit score and has not delayed any repayments, the lender may be willing to remove the cosigner. You should confirm that doing so doesn’t affect the terms of the loan. If the lender doesn’t agree to remove the cosigner, the primary home loan applicant may have to refinance the loan in order to do so. If there were specific reasons for needing a cosigner and those reasons are still valid, then you may have some challenges with refinancing.

Should I apply for a NAB home loan pre-approval?

Buying a new home is an exciting event in anybody’s life. Getting pre-approval means you know what you can afford so you don’t waste time looking at properties outside your budget. With a NAB Bank home loan pre-approval, you can look for your new home with confidence. The lender knows you’re serious about the purchase and also exhibits a willingness to lend you money.

Applying for a NAB home loan pre-approval is relatively straightforward. You might be asked to provide proof of employment and income, details of any savings as well as any on-going debts. NAB may also conduct a credit check on you to see if you’d be a risky borrower. If NAB offers you pre-approval after these checks, you’ll know how much money they’re willing to lend you. The NAB Bank home loan pre-approval is valid for 90 days from application, so don’t apply too early and be aware of this when looking for a property. If your pre-approval expires before you find a property you’ll need to reapply.

You can apply online for NAB home loan pre-approval, visit your nearest NAB branch, call on 13 79 79, or set up an appointment. If you choose to book an appointment, it can be done in person, via video, over a call or you can have a NAB Bank representative visit you.

 

 

 

How to apply for a home loan pre-approval from St. George?

By applying for a home loan pre-approval, you can establish how much you can afford to borrow and look for houses within that pre-approved budget. Getting home loan pre-approval from St. George is a fairly simple process that can be completed within 15 minutes. 

The first step in this process is completing a home loan application. Once that application is submitted, a home loan expert from St. George will contact you to understand your requirements and your current financial position. You could also directly contact a home loan expert at the bank by calling 13 33 30 or by visiting your nearest branch. 

Once the application has been processed, the home loan expert will ask for some basic documentation to confirm your borrowing capacity. After this, you should be issued a home loan pre-approval, subject to certain conditions. 

Based on your home loan pre-approval from St. George, you can then find a property and make an offer. Your home loan expert will arrange to have the property valued and may request for more documentation, taking your home loan application to the next step. 

 

 

Why should I get a Bankwest pre-approval home loan?

A Bankwest pre-approval home loan will give you a clear idea of how much you can afford to borrow, thus ensuring you restrict your search to houses within your budget. Not only will you save time, but you can also avoid a potential financial disaster if you happen to make an offer or a down-payment on a property and then realise you can’t afford it. A Bankwest pre-approval home loan can also tell the seller that you're serious about the purchase.

At the time of applying for a Bankwest pre-approval home loan, you will need to provide proof of ID, evidence of employment and regular income, details on your expenses, as well as any on-going debts. The lender might make enquiries about your credit rating too. Once you’re pre-approved, you will receive intimation on how much money Bankwest is willing to lend you.  

 

 

Can I salary sacrifice my home loan?

You can pay for your home loan straight from your pre-tax salary by salary sacrificing. Of course, this will depend on your employer’s policy. 

Salary sacrifice for home loans is offered exclusively for owner-occupied properties, so it cannot be used for investments.

Your employer may need to pay Fringe Benefits Tax (FBT), but non-profit organisations are exempt from this tax up to a certain limit. Some organisations may charge you an administrative fee to set this up. 

Keep in mind not all lenders accept salary sacrifice payments on your mortgage. Some lenders, like NAB, accept salary sacrificing for home loans.

Salary sacrificing won’t work for everyone, but in certain circumstances there are benefits to paying your home loan from your pre-tax income. These include reduced tax liability and potentially paying off your home loan quicker.

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.

What are the benefits of getting a pre-approved home loan from Citi?

While hunting for your dream home, getting a Citi home loan pre-approval can have multiple benefits, which include:

  • You'll have an idea on your personal price range, which can save time to find your home.
  • With a pre-approved home loan, you may find yourself with more financial control to better decide how much you can spend.
  • A Citi pre-approved home loan is a commitment  by a lender that signals you're ready to jump into the property market.

You can apply for pre-approval by providing basic details, such as name, email, and phone number on the bank’s website. Alternatively, you can contact the bank on 1300 361 922 or find a home lending officer on the website.

Is a home equity loan secured or unsecured?

Home equity is the difference between its current market price and the outstanding balance on the mortgage loan. The amount you can borrow against the equity in your property is known as a home equity loan.

A home equity loan is secured against your property. It means the lender can recoup your property if you default on the repayments. A secured home equity loan is available at a competitive rate of interest and may be repaid over the long-term. Although a home equity loan is secured, lenders will assess your income, expenses, and other liabilities before approving your application. You’ll also want  a good credit score to qualify for a home equity loan. 

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.

How to apply for ANZ home loan during maternity leave?

Qualifying for an ANZ home loan while you’re on maternity leave may require some research.

Much like other home loan applications, you'll need to be able to show the lenders that you’ll be able to pay the mortgage instalments on time, even during maternity leave, which can improve  chances of your home loan being approved. Your chances improve if you have savings, home equity, or if you receive any government-related benefits.

You’ll likely need  to provide no less than three payslips you received before the start of your maternity leave and a letter from your employer, with the letter stating the maternity leave terms such as the date on which you’ll return to work and the kind of employment (full-time, part-time, or casual) when you resume.

Your lender will likely consider the tenure of your maternity leave while assessing your loan application. Lenders also prefer if you are paid while on maternity leave; however, you may receive only half your salary, so the lender may not consider your regular income to determine the loan amount.