Heritage Bank home loan repayment calculator

Thinking about taking out a home loan with Heritage Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Heritage 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 2.59%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Variety of home loan products to choose from.
  • Package deals available to bundle this loan with other accounts.
  • Discounted rates available on some loan products.
  • Flexible loan features.
  • Some products have moderate to high loan fees.
  • Some loans have moderate to high interest rates.

Heritage Bank home loans rates

Advertised Rate

2.59%

Variable

Total estimated upfront fees
$750
Comparison Rate*

2.64%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89%

Variable

Total estimated upfront fees
$750
Comparison Rate*

2.94%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89%

Variable

Total estimated upfront fees
$750
Comparison Rate*

2.94%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89%

Variable

Total estimated upfront fees
$750
Comparison Rate*

2.94%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29%

Fixed - 3 years

Total estimated upfront fees
$150
Comparison Rate*

3.06%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.19%

Fixed - 2 years

Total estimated upfront fees
$150
Comparison Rate*

3.09%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$150
Comparison Rate*

3.11%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.09%

Variable

Total estimated upfront fees
$750
Comparison Rate*

3.14%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.39%

Fixed - 1 year

Total estimated upfront fees
$150
Comparison Rate*

3.15%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.79%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.19%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.19%

Variable

Total estimated upfront fees
$750
Comparison Rate*

3.24%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 3 years

Total estimated upfront fees
$150
Comparison Rate*

3.31%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.59%

Fixed - 2 years

Total estimated upfront fees
$150
Comparison Rate*

3.32%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.89%

Fixed - 5 years

Total estimated upfront fees
$150
Comparison Rate*

3.34%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.79%

Fixed - 1 year

Total estimated upfront fees
$150
Comparison Rate*

3.37%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.99%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.38%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.39%

Variable

Total estimated upfront fees
$750
Comparison Rate*

3.44%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.79%

Fixed - 2 years

Total estimated upfront fees
$150
Comparison Rate*

3.47%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.89%

Fixed - 3 years

Total estimated upfront fees
$150
Comparison Rate*

3.47%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.09%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.48%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.09%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.48%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.14%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.49%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$150
Comparison Rate*

3.50%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

2.99%

Fixed - 1 year

Total estimated upfront fees
$150
Comparison Rate*

3.52%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.19%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.54%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.29%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.68%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

3.49%

Variable

Total estimated upfront fees
$150
Comparison Rate*

3.83%

Ongoing fee
$350 annually
Go to site
More details
Product
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$750
Comparison Rate*

3.87%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

3.94%

Variable

Total estimated upfront fees
$750
Comparison Rate*

3.99%

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

2.29%

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.07%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.19%

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.23%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.89%

Fixed - 5 years

Total estimated upfront fees
$750
Comparison Rate*

4.31%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$750
Comparison Rate*

4.41%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.39%

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.44%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

4.49%

Variable

Total estimated upfront fees
$750
Comparison Rate*

4.54%

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.49%

Variable

Total estimated upfront fees
$750
Comparison Rate*

4.55%

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

2.69%

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.57%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.89%

Fixed - 3 years

Total estimated upfront fees
$750
Comparison Rate*

4.64%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

4.49%

Variable

Total estimated upfront fees
$750
Comparison Rate*

4.64%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

4.35%

Variable

Total estimated upfront fees
$150
Comparison Rate*

4.72%

Ongoing fee
$350 annually
Go to site
More details
Advertised Rate

4.35%

Variable

Total estimated upfront fees
$150
Comparison Rate*

4.72%

Ongoing fee
$350 annually
Go to site
More details
Product
Advertised Rate

2.59%

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.74%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.79%

Fixed - 2 years

Total estimated upfront fees
$750
Comparison Rate*

4.79%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.79%

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.97%

Ongoing fee
$8 monthly
Go to site
More details
Product
Advertised Rate

2.99%

Fixed - 1 year

Total estimated upfront fees
$750
Comparison Rate*

4.99%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

4.86%

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.03%

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

4.86%

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.03%

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

5.04%

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.17%

Ongoing fee
$8 monthly
Go to site
More details
Advertised Rate

5.04%

Variable

Total estimated upfront fees
$750
Comparison Rate*

5.19%

Ongoing fee
$8 monthly
Go to site
More details

Heritage Bank customer service

Heritage Bank has a network of over 60 branches spread across Brisbane, Sunshine Coast and Wide Bay Burnett areas. Home loan customers can contact Heritage Bank by calling the contact centre from Monday through to Saturday or can email the bank directly. 

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

How to Apply

Borrowers wanting to apply for a Heritage Bank home loan can either complete a secure online loan application form or can call through to the Contact Centre for more support. Queensland based borrowers can apply in their local branch. Before applying for a Heritage Bank home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for a Heritage Bank home loan, you will need to supply the following information:

  • Proof of identity.
  • Proof of income and employment, whether you’re self-employed or you’re on a salary.
  • Superannuation statements.
  • Proof of three months of savings history.

About Heritage Bank home loans

Heritage Bank home loans cater for a wide variety of mortgage customers:

  • Owner-occupier home loans
  • Investor home loans
  • Lines of credit
  • Bridging loans
  • SMSF loans
  • Reverse mortgages

Heritage Bank home loans also come with a range of interest rate options:

  • Variable rate
  • Fixed rate
  • Principal and interest
  • Interest-only
  • Split loans

If borrowers package their home loan with a Heritage Bank credit card and transaction account, they can qualify for mortgage rate reductions and fee waivers.

Heritage Bank mortgages have maximum loan terms of 30 years. Unlimited additional repayments are allowed. Depending on which home loan you choose, Heritage Bank also offers offset accounts and redraw facilities.

Heritage Bank home loan rates tend to range from very low to moderate, while application and ongoing fees tend to be moderate. Fees may apply for making redraws or closing fixed-rate mortgages early.

Heritage Bank home loan rates

Heritage Bank home loan rates differ from product to product, but they tend to be very low, moderately low or moderate.

As a challenger lender, Heritage Bank has to find a way to differentiate itself from the big four banks - which is one reason why it offers lower mortgage rates. Another reason Heritage Bank offers lower interest rates is that it is owned by its customers, rather than by shareholders, which means it doesn’t have the same imperative to maximise profits.

Heritage Bank offers three tiers of pricing for its home loans. From lowest to highest, they are:

  • Standard home loans
  • Line of credit loans
  • Bridging loans

Heritage Bank also charges different interest rates for owner-occupier mortgages (lower) versus investment mortgages (higher) and for principal-and-interest mortgages (lower) versus interest-only mortgages (higher).

Heritage Bank home loans review

Heritage Bank may be based in Queensland, but it provides home loans to borrowers all over Australia, whether directly from its branches or via mortgage brokers.

Heritage Bank’s bread and butter is owner-occupier home loans and investment home loans, both at the time of purchase or through refinancing. But it also offers specialist mortgage products such as lines of credit, bridging loans, SMSF loans and reverse mortgages.

Heritage Bank home loans can be principal and interest or interest-only, while borrowers can also choose for their mortgages to be variable, fixed or split.

In terms of interest rates, Heritage Bank tends to be at the cheaper end of the market, with mortgage rates tending to be very low, moderately low or moderate.

Its fees, though, are more likely to be moderate rather than market-leading. Those fees include application fees, monthly account-keeping fees and redraw fees.

Learn more about home loans

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.

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.

Does the family tax benefit count as income?

The family tax benefits are one of several government support payments that are not considered taxable income. Other such payments include child care subsidies, economic support payments, rent assistance, and carer allowances. If you file a tax return, you typically don’t need to mention such income on the return. However, some home loan lenders may accept family tax benefits as an income source when reviewing your home loan application. You’ll still need to meet other lending requirements, such as having a sufficiently high credit score and enough savings for a deposit before the loan will be approved.

Aussies receiving family tax benefits usually have an adjusted taxable income of no more than $55,626 a year. Alternatively, one spouse can be receiving income support payments from the government to be eligible. Most importantly, they need to have children dependent on them for care at least 35 per cent of the time. Children between the ages of 16 and 19 should be either full-time secondary students or have a somewhat comparable study load unless the government exempts them from these study requirements. 

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.

 

 

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.

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 do I get a Suncorp home loan pre-approval?

Getting home loan pre-approval helps you work out a budget to help you search for a suitable property and make an offer with confidence. Once you put in an application, you should get your pre-approval outcome within two business days. To help get a fast turnaround time of your pre-approval application, ensure all the information and documentation that Suncorp requires. This includes proof of identification, recent payslips, bank account and credit card statements.

You can submit the home loan pre-approval application online. You’ll be asked for information about your income, expenses, assets, and debts. It should take you about 10 minutes to fill out the application, and you can do it free of charge. A Suncorp lending specialist will review your application and contact you within 24 hours or the next working day. Suncorp will not run a credit check until you have heard from this lending specialist.

Once you get Suncorp home loan pre-approval, it’s valid for 90 days. If you don’t find a property you wish to buy in this time you may be able to apply for an extension, speak to your Suncorp lending specialist about this.

What are the NAB term deposit interest rates for businesses?

If you’re looking to lock in a return on your business savings, one option is a business term deposit with NAB. The big four bank provides competitive interest rates while giving you the flexibility to choose the term. NAB offers business term deposit interest rates for investments of between $5,000 to $499,999.

NAB doesn’t charge any monthly account or application fees. The interest is calculated daily and for the 90-day term and six months term, you will get paid when the deposit matures. For the 12 months term, you can either choose to get paid monthly, quarterly, half-yearly or annually. 

If you wish to withdraw your funds before the deposit matures, you need to give NAB 31 days notice. However, they do make exceptions if you’re experiencing hardship and need the funds immediately. Either way, you may have to bear the prepayment cost, which you can learn more about in the Terms and Conditions.

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 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.

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.

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.

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.

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.

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.