loans.com.au home loan repayment calculator

Thinking about taking out a home loan with loans.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 loans.com.au home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 1.99 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Loans have flexible options
  • Most loans have low fees
  • Loans have a fast approval process
Cons
  • No branch network
  • Loans have discharge fees

loans.com.au home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

1.99%

Intro 12 months

$520

2.47%

$0
View Now
loans.com.au
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2.48%

Variable

$520

2.50%

$0
loans.com.au
More details

2.58%

Variable

$520

2.60%

$0
loans.com.au
More details

1.99%

Intro 12 months

$520

2.71%

$0
loans.com.au
More details

1.99%

Intro 12 months

$520

2.71%

$0
loans.com.au
More details

2.09%

Intro 24 months

$520

2.71%

$0
loans.com.au
More details

2.73%

Variable

$520

2.75%

$0
loans.com.au
More details

2.74%

Variable

$300

2.76%

$0 weekly
View Now
loans.com.au
More details

2.79%

Variable

$520

2.81%

$0
loans.com.au
More details

2.79%

Variable

$520

2.81%

$0
loans.com.au
More details

2.84%

Variable

$300

2.86%

$0 weekly
loans.com.au
More details

2.89%

Variable

$520

2.91%

$0
loans.com.au
More details

2.89%

Variable

$520

2.91%

$0
loans.com.au
More details

3.47%

Variable

$520

2.96%

$0
loans.com.au
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2.29%

Fixed - 2 years

$300

2.98%

$0
loans.com.au
More details

2.99%

Variable

$300

3.01%

$0 weekly
loans.com.au
More details

2.79%

Fixed - 2 years

$300

3.05%

$0
loans.com.au
More details

2.88%

Fixed - 3 years

$300

3.05%

$0
loans.com.au
More details

2.88%

Fixed - 2 years

$300

3.06%

$0
loans.com.au
More details

2.88%

Fixed - 1 year

$300

3.08%

$0
loans.com.au
More details

3.57%

Variable

$520

3.08%

$0
loans.com.au
More details

3.67%

Variable

$520

3.09%

$0
loans.com.au
More details

3.09%

Variable

$300

3.11%

$0 weekly
loans.com.au
More details

3.09%

Variable

$300

3.11%

$0 weekly
loans.com.au
More details

3.28%

Fixed - 1 year

$520

3.11%

$0
loans.com.au
More details

3.28%

Fixed - 2 years

$520

3.12%

$0
loans.com.au
More details

3.28%

Fixed - 3 years

$520

3.14%

$0
loans.com.au
More details

3.19%

Variable

$300

3.21%

$0 weekly
loans.com.au
More details

2.69%

Fixed - 2 years

$300

3.34%

$0
loans.com.au
More details

3.08%

Fixed - 3 years

$520

3.37%

$0
loans.com.au
More details

3.77%

Variable

$520

3.37%

$0
loans.com.au
More details

2.99%

Fixed - 2 years

$300

3.38%

$0
loans.com.au
More details

3.08%

Fixed - 2 years

$520

3.39%

$0
loans.com.au
More details

3.08%

Fixed - 1 year

$520

3.42%

$0
loans.com.au
More details

3.48%

Fixed - 3 years

$520

3.45%

$0
loans.com.au
More details

3.48%

Fixed - 2 years

$520

3.45%

$0
loans.com.au
More details

3.48%

Fixed - 1 year

$520

3.45%

$0
loans.com.au
More details

loans.com.au customer service

Being an online-only lender means loans.com.au customers don’t have access to a branch network. However, loans.com.au offers plenty of flexible and convenient contact options like online live chat. In addition, loan customers can contact the loans.com.au customer support line 7 days a week or can request a call back using the online enquiry form. Customers also have the option of emailing customer care directly. 

✓     Customer service centre (phone)

✓     Mobile app

✓     Online banking

✓     Email

✓     Live Chat

How to apply for a loans.com.au home loan

Borrowers keen to apply for a loans.com.au home loan can do so by filling out an online application form or calling the bank’s loan hotline. 

Before applying for a loans.com.au home loan, consider what you can afford to borrow and what other costs you need to include. 

To apply for a loan with loans.com.au, you will need to supply the following information:

  • Personal identity information.
  • Proof of income and employment.
  • Bank statements
  • Details of your current debts, liabilities and assets

Once you have filled out the initial information, you'll be put in touch with an online lending manager to finalise your loan. 

Loans.com.au home loans review

Loans.com.au is an online-only lender, known for offering competitive interest rates. A potential customer would need to be comfortable managing their mortgage online or over the phone. Options are available for borrowers looking to buy, refinance or build a property, either as a home to live in or an investment property.  

The interest rates on loans.com.au home loans are generally lower for owner-occupiers than they are for investors. Generally, if you have a lower loan-to-value ratio (LVR), or choose a home loan with fewer features, (e.g. without an offset account), your interest rate may be lower. As well as variable rates, options are available to fix your rate for up to three years.

Many of loans.com.au’s home loans are available without upfront or ongoing fees, though a rate lock fee applies for fixed rate loans, and other charges may apply.

Loans.com.au home loans allow borrowers to make extra repayments, though there are limits for fixed rate loans. Redraw facilities are also available for selected loans, as is the option to split the loan between fixed and variable interest rates. An offset account is only available on selected home loans.

Learn more about loans.com.au

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.

When should I switch home loans?

The answer to this question is dependent on your personal circumstances – there is no best time for refinancing that will apply to everyone.

If you want a lower interest rate but are happy with the other aspects of your loan it may be worth calling your lender to see if you can negotiate a better deal. If you have some equity up your sleeve – at least 20 per cent – and have done your homework to see what other lenders are offering new customers, pick up the phone to your bank and negotiate. If they aren’t prepared to offer you lower rate or fees, then you’ve already done the research, so consider switching.

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.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

How much of the RBA rate cut do lenders pass on to borrowers?

When the Reserve Bank of Australia cuts its official cash rate, there is no guarantee lenders will then pass that cut on to lenders by way of lower interest rates. 

Sometimes lenders pass on the cut in full, sometimes they partially pass on the cut, sometimes they don’t at all. When they don’t, they often defend the decision by saying they need to balance the needs of their shareholders with the needs of their borrowers. 

As the attached graph shows, more recent cuts have seen less lenders passing on the full RBA interest rate cut; the average lender was more likely to pass on about two-thirds of the 25 basis points cut to its borrowers.  image002

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 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 do I take out a low-deposit home loan?

If you want to take out a low-deposit home loan, it might be a good idea to consult a mortgage broker who can give you professional financial advice and organise the mortgage for you.

Another way to take out a low-deposit home loan is to do your own research with a comparison website like RateCity. Once you’ve identified your preferred mortgage, you can apply through RateCity or go direct to the lender.

What is an ombudsman?

An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.