Homeloans.com.au home loan repayment calculator

Thinking about taking out a home loan with Homeloans.com.au? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Homeloans.com.au 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 2.14%

Total interest payable

$0

Total loan repayments

$0

Homeloans.com.au home loans rates

Advertised Rate

2.14

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.16

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.24

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.26

% p.a

Ongoing fee
$0
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Advertised Rate

2.44

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.27

% p.a

Ongoing fee
$0
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Advertised Rate

2.29

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.31

% p.a

Ongoing fee
$0
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Advertised Rate

2.54

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.37

% p.a

Ongoing fee
$0
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Advertised Rate

2.39

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.41

% p.a

Ongoing fee
$0
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Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.42

% p.a

Ongoing fee
$0
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Advertised Rate

2.69

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.52

% p.a

Ongoing fee
$0
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Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.61

% p.a

Ongoing fee
$0
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Advertised Rate

2.74

% p.a

Variable

Total estimated upfront fees
$66
Comparison Rate*

2.61

% p.a

Ongoing fee
$0
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Advertised Rate

2.74

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.76

% p.a

Ongoing fee
$0
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Advertised Rate

2.79

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.81

% p.a

Ongoing fee
$0
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Advertised Rate

2.89

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.81

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

2.94

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.96

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

2.99

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.01

% p.a

Ongoing fee
$0
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Advertised Rate

2.99

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.01

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.06

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.06

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.16

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.16

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.21

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.21

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

3.34

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.43

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.49

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.47

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.49

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.60

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.64

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.62

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.54

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.65

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.69

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.70

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.69

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.82

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.74

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.85

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.84

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.85

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.89

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.90

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

3.89

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.00

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

4.04

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.05

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

4.24

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.37

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.39

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.42

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.39

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.52

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.54

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.57

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.54

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.67

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.69

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.85

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.84

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.87

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.74

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

4.90

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.89

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.05

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.04

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.10

% p.a

Ongoing fee
$0
Go to site
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Advertised Rate

5.24

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.40

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.39

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.60

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.54

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.60

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.44

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.65

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.81

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.74

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

5.85

% p.a

Ongoing fee
$0
Go to site
More details

Learn more about home loans

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. 

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.

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.

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.

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.

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.

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.

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.

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

How does it work? What are the steps involved?

To check your rate, start by entering your contact details and home loan information at ratecity.com.au. We’ll compare your current home loan to other options in our database, and let you know how much you could save by refinancing.  

If we can’t beat your current rate, you can claim a $100 gift card by confirming your home loan details with us.*

How do guaranteed home loans work?

A guaranteed home loan involves a guarantor (often a parent) promising to pay off a mortgage if the principal borrower (often the child) fails to do so. The guarantor will also have to provide security, which is often the family home.

The principal borrower will usually be someone struggling to find the money to enter the property market. By partnering with a guarantor, the borrower increases their financial power and becomes less of a risk in the eyes of lenders. As a result, the borrower may:

  • Qualify for a mortgage that they would have otherwise been denied
  • Not be required to pay lender’s mortgage insurance (LMI)
  • Be charged a lower interest rate
  • Be charged less in fees

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.

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.

What is the Home Loan Rate Promise?

The Home Loan Rate Promise is RateCity putting its money where its mouth is. We believe that too many Australians are paying too much for their home loans. We’re so confident we can help Aussies save money, if we can’t beat your current rate, we’ll give you a $100 gift card.*

There are two reasons it pays to check your rate with the Home Loan Rate Promise:

  • You can find out how much you could save on your home loan by switching to a loan with a lower interest rate
  • If we can’t beat your current rate, you can claim a $100 gift card with our Home Loan Rate Promise*

Can first home buyers apply for an ING home loan?

First home buyers can apply for an ING home loan, but first, they need to select the most suitable home loan product and calculate the initial deposit on their home loan. 

First-time buyers can also use ING’s online tool to estimate the amount they can borrow. ING offers home loan applicants a free property report to look up property value estimates. 

First home loan applicants struggling to understand the terms used may consider looking up ING’s first home buyer guide. Once the home buyer is ready to apply for the loan, they can complete an online application or call ING at 1800 100 258 during regular business hours.