Police Credit Union home loan repayment calculator

Thinking about taking out a home loan with Police Credit Union? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Police Credit Union home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 2.69 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Police Credit Union home loans rates

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

2.69%

Variable

$625

2.74%

$0
Police Credit Union
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2.69%

Variable

$625

2.74%

$0
Police Credit Union
More details

2.69%

Variable

$625

2.74%

$0
Police Credit Union
More details

2.99%

Variable

$625

3.02%

$0
Police Credit Union
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2.99%

Variable

$625

3.02%

$0
Police Credit Union
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2.99%

Variable

$625

3.04%

$0
Police Credit Union
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2.09%

Fixed - 3 years

$625

3.39%

$0
Police Credit Union
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2.09%

Fixed - 3 years

$625

3.39%

$0
Police Credit Union
More details

2.39%

Fixed - 3 years

$625

3.47%

$0
Police Credit Union
More details

2.39%

Fixed - 3 years

$625

3.47%

$0
Police Credit Union
More details

2.99%

Fixed - 5 years

$625

3.51%

$0
Police Credit Union
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2.99%

Fixed - 5 years

$625

3.51%

$0
Police Credit Union
More details

2.99%

Fixed - 5 years

$625

3.51%

$0
Police Credit Union
More details

2.99%

Fixed - 5 years

$625

3.51%

$0
Police Credit Union
More details

2.89%

Fixed - 4 years

$625

3.53%

$0
Police Credit Union
More details

2.89%

Fixed - 4 years

$625

3.53%

$0
Police Credit Union
More details

2.89%

Fixed - 4 years

$625

3.53%

$0
Police Credit Union
More details

2.89%

Fixed - 4 years

$625

3.53%

$0
Police Credit Union
More details

2.19%

Fixed - 2 years

$625

3.54%

$0
Police Credit Union
More details

2.19%

Fixed - 2 years

$625

3.54%

$0
Police Credit Union
More details

2.39%

Fixed - 2 years

$625

3.57%

$0
Police Credit Union
More details

2.39%

Fixed - 2 years

$625

3.57%

$0
Police Credit Union
More details

2.99%

Fixed - 5 years

$625

3.59%

$0
Police Credit Union
More details

2.59%

Fixed - 3 years

$625

3.61%

$0
Police Credit Union
More details

2.89%

Fixed - 4 years

$625

3.61%

$0
Police Credit Union
More details

2.19%

Fixed - 1 year

$625

3.67%

$0
Police Credit Union
More details

2.19%

Fixed - 1 year

$625

3.67%

$0
Police Credit Union
More details

2.59%

Fixed - 2 years

$625

3.67%

$0
Police Credit Union
More details

2.39%

Fixed - 1 year

$625

3.69%

$0
Police Credit Union
More details

2.39%

Fixed - 1 year

$625

3.69%

$0
Police Credit Union
More details

2.59%

Fixed - 1 year

$625

3.74%

$0
Police Credit Union
More details

3.99%

Variable

$625

4.04%

$0
Police Credit Union
More details

4.49%

Variable

$625

4.52%

$0
Police Credit Union
More details

4.49%

Variable

$625

4.54%

$0
Police Credit Union
More details

Learn more about Police Credit Union

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.

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

What is appraised value?

An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.

What do mortgage brokers do?

Mortgage brokers are finance professionals who help borrowers organise home loans with lenders. As such, they act as middlemen between borrowers and lenders.

While bank staff recommend home loan products only from their own employer, brokers are independent, so they can recommend products from a range of institutions.

Brokers need to be accredited with a particular lender to be able to work with that lender. A typical broker will be accredited with anywhere from 10 to 30 lenders – the big four banks, as well as a range of smaller banks, credit unions and non-bank lenders.

As a general rule, brokers don’t charge consumers for their services; instead, they receive commissions from lenders whenever they place a borrower with that institution.

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.

Mortgage Calculator, Repayment Frequency

How often you wish to pay back your lender. 

Savings over

Select a number of years to see how much money you can save with different home loans over time.

e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

Can I take a personal loan after a home loan?

Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:

  • Higher-income to show repayment capability for both the loans
  • Clear credit history with no delays in bill payments or defaults on debts
  • Zero or minimal current outstanding debt
  • Some amount of savings
  • Proven rent history will be positively perceived by the lenders

A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.

As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

What factors does Real Time Ratings consider?

Real Time RatingsTM uses a range of information to provide personalised results:

  • Your loan amount
  • Your borrowing status (whether you are an owner-occupier or an investor)
  • Your loan-to-value ratio (LVR)
  • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
  • Product information (such as a loan’s interest rate, fees and LVR requirements)
  • Market changes (such as when new loans come on to the market)

Why is it important to get the most up-to-date information?

The mortgage market changes constantly. Every week, new products get launched and existing products get tweaked. Yet many ratings and awards systems rank products annually or biannually.

We update our product data as soon as possible when lenders make changes, so if a bank hikes its interest rates or changes its product, the system will quickly re-evaluate it.

Nobody wants to read a weather forecast that is six months old, and the same is true for home loan comparisons.

What is bridging finance?

A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

Usually, these loans have higher interest rates and a shorter repayment duration.

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. 

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.