Bank of Heritage Isle home loan repayment calculator

Thinking about taking out a home loan with Bank of Heritage Isle? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Bank of Heritage Isle 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 2.49%

Total interest payable

$0

Total loan repayments

$0

Bank of Heritage Isle home loans rates

Advertised Rate

2.49%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

2.75%

Ongoing fee
$0
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More details
Advertised Rate

2.49%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.49%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.49%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

2.79%

Ongoing fee
$0
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More details
Advertised Rate

2.69%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

2.82%

Ongoing fee
$0
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More details
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

2.83%

Ongoing fee
$0
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More details
Advertised Rate

2.79%

Variable

Total estimated upfront fees
$545
Comparison Rate*

2.84%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

2.85%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

2.85%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

2.85%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

2.86%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

2.86%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

2.86%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.79%

Variable

Total estimated upfront fees
$545
Comparison Rate*

2.87%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.79%

Variable

Total estimated upfront fees
$545
Comparison Rate*

2.87%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.79%

Variable

Total estimated upfront fees
$545
Comparison Rate*

2.87%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

3.08%

Ongoing fee
$0
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More details
Advertised Rate

2.69%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

3.08%

Ongoing fee
$0
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More details
Advertised Rate

2.89%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

3.15%

Ongoing fee
$0
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More details
Advertised Rate

2.89%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

3.15%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.89%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

3.17%

Ongoing fee
$0
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More details
Advertised Rate

2.89%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

3.17%

Ongoing fee
$0
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More details
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

3.18%

Ongoing fee
$0
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More details
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

3.18%

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.11%

Variable

Total estimated upfront fees
$545
Comparison Rate*

3.19%

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.11%

Variable

Total estimated upfront fees
$545
Comparison Rate*

3.19%

Ongoing fee
$0
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More details
Advertised Rate

2.99%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

3.33%

Ongoing fee
$0
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More details
Advertised Rate

2.99%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

3.36%

Ongoing fee
$0
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More details
Advertised Rate

3.19%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

3.36%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.99%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

3.39%

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.34%

Variable

Total estimated upfront fees
$545
Comparison Rate*

3.42%

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.34%

Variable

Total estimated upfront fees
$545
Comparison Rate*

3.42%

Ongoing fee
$0
Go to site
More details

Learn more about home loans

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.

How do you qualify for a CBA home loan with casual employment?

Qualifying for a home loan without a full-time job may be challenging, but it can be done. The first step is to understand how a CBA home loan is assessed when you have casual employment.

Most lenders will assess your expenses and savings while checking your loan eligibility, checking on factors crucial to home loan approval, such as if your bills are paid on time and what your credit score presently looks like. 

Your income can be one of the most critical factors to determine your final approved home loan amount. As such, you’ll need to provide payslip copies to lenders to assist them in assessing your income during the loan tenure, regardless of your employment status, full-time, part-time, or otherwise.

Casual employees will want to be casually employed for at least 12 months to be eligible for a home loan. Alternatively, you want to have worked as a permanent casual worker (working for a fixed number of hours per week) for at least one month, or you should have been in your current job for a minimum of three months (if the hours are irregular) to be eligible for the loan.

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.

What is the average length of a home loan?

Most Aussie lenders offer home loans with a 30-year term, meaning that you should pay back the full loan amount and the interest you owe on the amount in 30 years. 

However, home loans can also have a shorter or longer term. They may be as low as ten years or up to 45 years, depending on the product and lender. 

It’s worth remembering that a longer loan term usually means you’ll end up paying a lot more interest in total, but your scheduled repayments may be more manageable. In contrast, you could opt for a shorter loan term if you are comfortable making large repayments in exchange for paying less interest over the term of the loan.

How do I get a pre-approved home loan with Aussie?

Getting Aussie home loan pre-approval means receiving conditional support from Aussie Home Loans to borrow the money you need to buy a home. 

It’s an indication of the approximate amount Aussie may offer you, subject to some terms and conditions. Keep in mind, having a pre-approved home loan does not guarantee an actual approval of your loan when it comes time to buy.

Aussie home loan pre-approval often involves speaking to one of the lender’s brokers. You can make an appointment online. You’ll often have to submit your personal details and other information about your assets, income, liabilities and expenses.  It’s worth remembering that a pre-approved loan is usually valid for a few months.

Does UBank offer home loan pre-approvals?

If you’re applying for a home loan with UBank, you can first get an approval in principle. You’ll need to provide information about your job and earnings, your household expenses, the assets you own and the debts you owe. 

UBank will assign a home loan specialist to discuss these details over a phone call, which can take about 30 minutes. 

The bank will then confirm if you’ve received in-principle approval for your home loan. Depending on how you submit your documents, this could take a few days or a few weeks. If successful, the approval will be valid for 60 days. 

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 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.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

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.

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.

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.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.