RateCity.com.au
powering smart financial decisions

Pros and cons

  • Package deals available to bundle other financial products.
  • Suitable for low deposits.
  • Range of home loans to choose from.
  • Flexible repayment schedule with weekly, fortnightly or monthly repayment options.
  • Parents can act as guarantors.
  • Some products include numerous fees.
  • Lack of branches.
  • Limited offset availability.

Owner occupied products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
Basic Home Loan (Min Deposit 5%)
3.34% p.a.
3.28% p.a. Comparison rate
3.59% p.a.
3.4% p.a. Comparison rate
Sustainable Home Loan (Min Deposit 5%)
2.79% p.a.
2.83% p.a. Comparison rate
3.04% p.a.
2.85% p.a. Comparison rate
2 Year Partnership Advantage Home Loan packaged
2.19% p.a.
3.25% p.a. Comparison rate
2.59% p.a.
3.32% p.a. Comparison rate
1 Year Partnership Advantage Home Loan packaged
2.19% p.a.
3.31% p.a. Comparison rate
2.59% p.a.
3.35% p.a. Comparison rate
3 Year Partnership Advantage Home Loan packaged
2.49% p.a.
3.26% p.a. Comparison rate
2.89% p.a.
3.36% p.a. Comparison rate
Partnership Advantage Home Loan packaged
2.99% p.a.
3.39% p.a. Comparison rate
3.24% p.a.
3.41% p.a. Comparison rate
4 Year Partnership Advantage Home Loan packaged
2.89% p.a.
3.35% p.a. Comparison rate
3.29% p.a.
3.48% p.a. Comparison rate
5 Year Partnership Advantage Home Loan packaged
3.09% p.a.
3.42% p.a. Comparison rate
3.49% p.a.
3.58% p.a. Comparison rate
3 Year Fixed Home Loan (Min Deposit 5%)
2.59% p.a.
3.84% p.a. Comparison rate
2.99% p.a.
3.94% p.a. Comparison rate
4 Year Fixed Home Loan (Min Deposit 5%)
2.99% p.a.
3.85% p.a. Comparison rate
3.39% p.a.
3.98% p.a. Comparison rate
2 Year Fixed Home Loan (Min Deposit 5%)
2.29% p.a.
3.92% p.a. Comparison rate
2.69% p.a.
3.99% p.a. Comparison rate
5 Year Fixed Home Loan (Min Deposit 5%)
3.19% p.a.
3.84% p.a. Comparison rate
3.59% p.a.
4% p.a. Comparison rate
1 Year Fixed Home Loan (Min Deposit 5%)
2.29% p.a.
4.08% p.a. Comparison rate
2.69% p.a.
4.12% p.a. Comparison rate
Standard Variable Loan (Min Deposit 5%)
4.22% p.a.
4.26% p.a. Comparison rate
4.47% p.a.
4.28% p.a. Comparison rate
Mortgage Offset Home Loan (Min Deposit 5%)
4.22% p.a.
4.26% p.a. Comparison rate
4.47% p.a.
4.28% p.a. Comparison rate
Mortgage Overdraft (Min Deposit 5%)
n/a
4.72% p.a.
4.75% p.a. Comparison rate

Investment purpose products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
2 Year Partnership Advantage Home Loan packaged
2.39% p.a.
3.68% p.a. Comparison rate
2.79% p.a.
3.75% p.a. Comparison rate
3 Year Partnership Advantage Home Loan packaged
2.69% p.a.
3.67% p.a. Comparison rate
3.09% p.a.
3.77% p.a. Comparison rate
Basic Home Loan (Min Deposit 5%)
3.74% p.a.
3.78% p.a. Comparison rate
3.99% p.a.
3.8% p.a. Comparison rate
1 Year Partnership Advantage Home Loan packaged
2.39% p.a.
3.77% p.a. Comparison rate
2.79% p.a.
3.81% p.a. Comparison rate
4 Year Partnership Advantage Home Loan packaged
2.99% p.a.
3.71% p.a. Comparison rate
3.39% p.a.
3.84% p.a. Comparison rate
Partnership Advantage Home Loan packaged
3.49% p.a.
3.87% p.a. Comparison rate
3.74% p.a.
3.9% p.a. Comparison rate
5 Year Partnership Advantage Home Loan packaged
3.49% p.a.
3.87% p.a. Comparison rate
3.89% p.a.
4.03% p.a. Comparison rate
4 Year Fixed Home Loan (Min Deposit 5%)
3.09% p.a.
4.21% p.a. Comparison rate
3.49% p.a.
4.34% p.a. Comparison rate
3 Year Fixed Home Loan (Min Deposit 5%)
2.79% p.a.
4.25% p.a. Comparison rate
3.19% p.a.
4.36% p.a. Comparison rate
2 Year Fixed Home Loan (Min Deposit 5%)
2.49% p.a.
4.36% p.a. Comparison rate
2.89% p.a.
4.43% p.a. Comparison rate
5 Year Fixed Home Loan (Min Deposit 5%)
3.59% p.a.
4.3% p.a. Comparison rate
3.99% p.a.
4.46% p.a. Comparison rate
1 Year Fixed Home Loan (Min Deposit 5%)
2.49% p.a.
4.55% p.a. Comparison rate
2.89% p.a.
4.59% p.a. Comparison rate
Mortgage Offset Home Loan (Min Deposit 5%)
4.72% p.a.
4.76% p.a. Comparison rate
4.97% p.a.
4.78% p.a. Comparison rate
Standard Variable Loan (Min Deposit 5%)
4.72% p.a.
4.76% p.a. Comparison rate
4.97% p.a.
4.78% p.a. Comparison rate
Mortgage Overdraft (Min Deposit 5%)
n/a
5.22% p.a.
5.25% p.a. Comparison rate
Self Managed Super Fund Housing Loan (Min Deposit 20%)
5.34% p.a.
5.52% p.a. Comparison rate
n/a
1 Year Self Managed Super Fund Housing Loan (Min Deposit 20%)
6.05% p.a.
5.59% p.a. Comparison rate
n/a
2 Year Self Managed Super Fund Housing Loan (Min Deposit 20%)
6.15% p.a.
5.67% p.a. Comparison rate
n/a
3 Year Self Managed Super Fund Housing Loan (Min Deposit 20%)
6.55% p.a.
5.86% p.a. Comparison rate
n/a
5 Year Self Managed Super Fund Housing Loan (Min Deposit 20%)
7.25% p.a.
6.37% p.a. Comparison rate
n/a

Home loan repayment calculator

Thinking about taking out a home loan with Regional Australia Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Regional Australia Bank 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 2.19%

Total interest payable

$0

Total loan repayments

$0

Regional Australia Bank customer service

Home loan customers can contact Regional Australia Bank by visiting one of the 25 plus branches located in New South Wales. Customers further a field can call Regional Australia Bank’s customer service centre for assistance on a range of topics including funds transfers and home loan applications. Customers can also get in touch via email or alternatively they can access their account facilities 24-hours a day through internet banking and the Regional Australia Bank mobile app. Customers can access their funds Australia-wide through Westpac’s network of over 3000 ATMs. 

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch

How to Apply

Regional Australia Bank home loan applications can be made online via the company website, or by calling the customer service support centre. Depending on the type of loan customers apply for, approval can be received in as little as 48-hours. Before Regional Australia Bank customers commit to a home loan application it is advisable they think about how much they can afford to borrow based on their income and outgoings. To aid their application, home loan customers will be required to provide supporting documents that may include:

  • Personal identification.
  • Personal income details.
  • Details of current debts and assets.

Learn more about home loans

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.

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.

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 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.

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. 

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

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 are the benefits of getting a pre-approved home loan from Citibank?

While hunting for your dream home, getting a Citibank home loan pre-approval can have multiple benefits, which include:

  • You'll have an idea on your personal price range, which can save time to find your home.
  • With a pre-approved home loan, you may find yourself with more financial control to better decide how much you can spend.
  • A Citibank pre-approved home loan is a commitment  by a lender that signals you're ready to jump into the property market.

You can apply for pre-approval by providing basic details, such as name, email, and phone number on the bank’s website. Alternatively, you can contact the bank on 1300 361 922 or find a home lending officer on the website.

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.  

How can I get ANZ home loan pre-approval?

Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

How do I find out my current interest rate and how much is owing on my loan?

Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

How to apply for a home loan pre-approval from St. George?

By applying for a home loan pre-approval, you can establish how much you can afford to borrow and look for houses within that pre-approved budget. Getting home loan pre-approval from St. George is a fairly simple process that can be completed within 15 minutes. 

The first step in this process is completing a home loan application. Once that application is submitted, a home loan expert from St. George will contact you to understand your requirements and your current financial position. You could also directly contact a home loan expert at the bank by calling 13 33 30 or by visiting your nearest branch. 

Once the application has been processed, the home loan expert will ask for some basic documentation to confirm your borrowing capacity. After this, you should be issued a home loan pre-approval, subject to certain conditions. 

Based on your home loan pre-approval from St. George, you can then find a property and make an offer. Your home loan expert will arrange to have the property valued and may request for more documentation, taking your home loan application to the next step.