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HSBC
HSBC is one of the world’s largest banks and provides a range of financial products, including home loans, credit cards, bank accounts, personal loans and insurance. It was founded in 1865 and is headquartered in London.
HSBC home loans range from standard owner-occupier home loans and investor home loans to specialist market linked loans, line-of-credit loans, home equity loans and more.
HSBC has branches throughout most states in Australia and offers customer service online, via email and over the phone.
HSBC home loan repayment calculator
Thinking about taking out a home loan with HSBC? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how HSBC home loans compare with other options.
Your estimated mortgage repayments
at interest rate 1.88%
Total interest payable
$0
Total loan repayments
$0
Pros and cons
- Large variety of home loan products.
- Extensive customer support.
- Opportunity to bundle with other HSBC products.
- Offers discounts on interest rates.
- Some loans have moderate to high fees.
- Some interest rates aren’t competitive.
HSBC home loans rates
Advertised Rate  2.19 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 2.20 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.44 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 2.45 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.44 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.45 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.54 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 2.55 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.69 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.70 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.94 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.79 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 1.88 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 2.86 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.09 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 2.86 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.89 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.90 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.54 % p.a Variable | Total estimated upfront fees $450 | Comparison Rate* 2.97 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.54 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 2.97 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.98 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.99 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 3.14 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 2.99 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.29 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.00 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.60 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.00 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.30 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.01 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.40 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.01 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.09 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.03 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.70 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.03 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.30 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.04 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.15 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.07 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.64 % p.a Variable | Total estimated upfront fees $450 | Comparison Rate* 3.07 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.75 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.11 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.39 % p.a Fixed - 3 years | Total estimated upfront fees $150 | Comparison Rate* 3.12 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 3.12 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.25 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.13 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.29 % p.a Fixed - 2 years | Total estimated upfront fees $150 | Comparison Rate* 3.13 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.59 % p.a Fixed - 3 years | Total estimated upfront fees $150 | Comparison Rate* 3.13 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.49 % p.a Fixed - 2 years | Total estimated upfront fees $150 | Comparison Rate* 3.14 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 3.13 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 3.14 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.50 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.16 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.74 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 3.17 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.39 % p.a Fixed - 1 year | Total estimated upfront fees $150 | Comparison Rate* 3.18 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 5 years | Total estimated upfront fees $150 | Comparison Rate* 3.18 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.85 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.18 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.59 % p.a Fixed - 1 year | Total estimated upfront fees $150 | Comparison Rate* 3.19 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.89 % p.a Fixed - 5 years | Total estimated upfront fees $150 | Comparison Rate* 3.20 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.40 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.21 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.79 % p.a Variable | Total estimated upfront fees $450 | Comparison Rate* 3.21 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.79 % p.a Fixed - 5 years | Total estimated upfront fees $750 | Comparison Rate* 3.25 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.40 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.28 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.49 % p.a Fixed - 3 years | Total estimated upfront fees $750 | Comparison Rate* 3.28 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 3 years | Total estimated upfront fees $750 | Comparison Rate* 3.33 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.39 % p.a Fixed - 2 years | Total estimated upfront fees $750 | Comparison Rate* 3.34 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.99 % p.a Fixed - 5 years | Total estimated upfront fees $750 | Comparison Rate* 3.34 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.85 % p.a Fixed - 3 years | Total estimated upfront fees $750 | Comparison Rate* 3.36 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.59 % p.a Fixed - 2 years | Total estimated upfront fees $750 | Comparison Rate* 3.37 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.75 % p.a Fixed - 2 years | Total estimated upfront fees $750 | Comparison Rate* 3.39 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.75 % p.a Fixed - 3 years | Total estimated upfront fees $150 | Comparison Rate* 3.39 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.65 % p.a Fixed - 2 years | Total estimated upfront fees $150 | Comparison Rate* 3.40 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.99 % p.a Variable | Total estimated upfront fees $450 | Comparison Rate* 3.41 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.49 % p.a Fixed - 1 year | Total estimated upfront fees $750 | Comparison Rate* 3.44 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.65 % p.a Fixed - 1 year | Total estimated upfront fees $150 | Comparison Rate* 3.45 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 1 year | Total estimated upfront fees $750 | Comparison Rate* 3.45 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.75 % p.a Fixed - 1 year | Total estimated upfront fees $750 | Comparison Rate* 3.45 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 3.08 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 3.47 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 3.08 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 3.47 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 3.00 % p.a Fixed - 3 years | Total estimated upfront fees $750 | Comparison Rate* 3.51 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.90 % p.a Fixed - 3 years | Total estimated upfront fees $150 | Comparison Rate* 3.53 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.90 % p.a Fixed - 2 years | Total estimated upfront fees $750 | Comparison Rate* 3.54 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.80 % p.a Fixed - 2 years | Total estimated upfront fees $150 | Comparison Rate* 3.55 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.80 % p.a Fixed - 1 year | Total estimated upfront fees $150 | Comparison Rate* 3.59 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 2.90 % p.a Fixed - 1 year | Total estimated upfront fees $750 | Comparison Rate* 3.60 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 3.23 % p.a Variable | Total estimated upfront fees $150 | Comparison Rate* 3.61 % p.a | Ongoing fee $390 annually | Go to site | More details | |
Advertised Rate 3.90 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.96 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 4.52 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 4.58 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 4.59 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 4.65 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 4.51 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 4.91 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 4.51 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 4.93 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 4.51 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 4.93 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 5.13 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 5.54 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 5.13 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 5.54 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 5.53 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 5.59 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 5.38 % p.a Variable | Total estimated upfront fees $750 | Comparison Rate* 5.61 % p.a | Ongoing fee $0 | Go to site | More details |
HSBC customer service
HSBC customers are spoilt for choice when it comes to contacting customer support. The HSBC contact centre hotline operates round the clock giving account holders 24/7 access to customer support. In addition, HSBC customer can contact a personal banking representative directly by email or by using the online enquiry form. HSBC also gives its customers the option of directing customer enquiries through Twitter. Customers also have the option of chatting directly with HSBC customer support through the online chat function on the HSBC website.
- Customer service (phone, email branch)
- Mobile app
- Online banking
- Live Chat
How to Apply
Borrowers wanting to apply for an HSBC home loan can either complete an online enquiry form, pop into a branch or call through to the Contact Centre for more support. Before applying for an HSBC home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for an HSBC home loan, you will need to supply the following information:
- Proof of identity by providing 100 points of identification.
- Proof of income and employment including employers contact details.
- Provide a list of debts, assets and liabilities.
About HSBC home loans
HSBC home loans are popular options for investors buying property using foreign currency (expatriate home loans and market linked home loans) thanks to the bank’s large presence in Hong Kong.
However, it also offers a range of other home loans, including owner-occupier home loans, local investor home loans, construction loans and lines of credit.
HSBC offers home loans to suit a variety of borrowers in Australia:
- Investors
- First homebuyers
- Renovators
- Upgraders
- Refinancers
- Seniors (home equity loans)
Borrowers can also choose from a variety of interest rate options on HSBC mortgages:
- Principal-and-interest home loans
- Interest-only home loans
- Split home loans
- Variable interest rates
- Fixed interest rates
Some HSBC home loans come with limited-time interest rate discounts and other introductory offers. HSBC Premier home loans also offer additional benefits to customers who meet the eligibility requirements.
HSBC home loan rates
HSBC home loan rates range from moderately low to high depending on the type of borrower and home loan. Generally speaking, owner occupiers paying principal and interest receive the lowest interest rates while investors paying interest only receive the highest interest rates.
Home loan rates can also vary based on whether they are variable or fixed, and how much of a deposit is put down.
Typically, HSBC borrowers who can make large deposits can also negotiate lower interest rates. With this in mind, HSBC home loans are generally geared towards customers with existing capital – although high-LVR loans are available in some circumstances.
In terms of fees, upfront fees tend to be high, while ongoing fees tend to be very low. A discharge fee may also apply at the end of the loan term. Loan repayments can be made weekly, fortnightly or monthly.
HSBC home loans review
HSBC offers a range of home loan options, primarily aimed at overseas and local investors. However, it also offers home loans for first homebuyers, upgraders and refinancers.
While some HSBC home loans come with moderately low interest rates, others attract high interest rates – so it’s important to compare what’s on the market before deciding if an HSBC home loan is the most suitable option.
Similarly, some HSBC mortgages come with an offset account and redraw facility while others don’t, meaning the level of flexibility depends on the type of home loan chosen.
Although HSBC is an established and well-known bank, it isn’t necessarily the cheapest when it comes to interest rates and fees. Borrowers may get the most value out of their home loan by taking advantage of rate discounts, special offers or other benefits through HSBC Premier.
HSBC top home loans products
Learn more about home loans
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.
How do I apply for a home improvement loan?
When you want to renovate your home, you may need to take out a loan to cover the costs. You could apply for a home improvement loan, which is a personal loan that you use to cover the costs of your home renovations. There is no difference between applying for this type of home improvement loan and applying for a standard personal loan. It would be best to check and compare the features, fees and details of the loan before applying.
Besides taking out a home improvement loan, you could also:
- Use the equity in your house: Equity is the difference between your property’s value and the amount you still owe on your home loan. You may be able to access this equity by refinancing your home loan and then using it to finance your home improvement. Speak with your lender or a mortgage broker about accessing your equity.
- Utilise the redraw facility of your home loan: Check whether the existing home loan has a redraw facility. A redraw facility allows you to access additional funds you’ve repaid into your home loan. Some lenders offer this on variable rate home loans but not on fixed. If this option is available to you, contact your lender to discuss how to access it.
- Apply for a construction loan: A construction loan is typically used when constructing a new property but can also be used as a home renovation loan. You may find that a construction loan is a suitable option as it enables you to draw funds as your renovation project progresses. You can compare construction home loans online or speak to a mortgage broker about taking out such a loan.
- Look into government grants: Check whether there are any government grants offered when you need the funds and whether you qualify. Initiatives like the HomeBuilder Grant were offered by the Federal Government for a limited period until April 2021. They could help fund your renovations either in full or just partially.
What are the different types of home loan interest rates?
A home loan interest rate is used to calculate how much you’ll pay the lender, usually annually, above the amount you borrow. It’s what the lenders charge you for them lending you money and will impact the total amount you’ll pay over the life of your home loan.
Having understood what are home loan rates in general, here are the two types you usually have with a home loan:
Fixed rates
These interest rates remain constant for a specific period and are a good option if you’re a first-time buyer or if you’re looking for a fixed monthly repayment. One possible downside of a fixed rate is that it may be higher than a variable rate. Also, you don’t benefit from any lowering of interest rates in the market. On the flip side, if rates go up, your rate won’t change, possibly saving you money.
Variable rates
With variable interest rates, the lender can change them at any time. This change can be based on economic conditions or other reasons. Changes in interest rates could be beneficial if your monthly repayment decreases but can be a problem if it increases. Variable interest rates offer several other benefits often not available with fixed rate home loans like redraw and offset facilities and free extra repayments.
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.
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.
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 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 do I apply for Westpac’s first home buyer loan?
If you’re a first home buyer looking to apply for a home loan with Westpac, they offer an online home loan application. They suggest the application can be completed in about 20 minutes. Based on the information you provide, Westpac will advise you the amount you can borrow and the costs associated with any possible home loan.
You can use Westpac’s online mortgage calculators to estimate your borrowing power. You can also work out the time it might take to save up for the deposit, and the size of your home loan repayments.
When applying for a home loan with Westpac, you’re assigned a home finance manager who can address your concerns and provide information. The manager will also offer guidance on any government grants you may be eligible for.
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 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.
How to apply for a pre-approval home loan from HSBC Bank?
If you’re planning on applying for a home loan, the best way to start is by having a clear picture of your requirements. By getting a pre-approval on your home loan, you can go house shopping with a definite budget, which can help you narrow down your search considerably. So, once you have identified the type of property you would like to purchase, you can seek pre-approval on a home loan from HSBC Bank.
You can apply for this form of conditional approval by contacting HSBC’s loan experts on 1300 694 722 or visiting the HSBC branch nearest to you. The process is fairly simple and fast: the representative will verify some key facts like your income and property valuation. You’ll usually be told within a couple of weeks whether you’ve been successful.
What is 'principal and interest'?
‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.
By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.
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.
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.
