Resimac home loan repayment calculator

Thinking about taking out a home loan with Resimac? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Resimac 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 2.59%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Large variety of home loans
  • Loans can accommodate borrowers with small deposits
  • Competitive interest rates
  • Loans are open to a wide range of borrowers
  • Limited branch network
  • Some products include ongoing fees

Resimac home loans rates

Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.63

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.66

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

2.79

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.70

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.73

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.39

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.76

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

2.69

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.76

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

2.89

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.80

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.79

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.86

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

2.84

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.88

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.54

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.94

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.04

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.95

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.94

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

2.98

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.94

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.01

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

2.99

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.03

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.99

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.03

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.64

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.04

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.05

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.08

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.14

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.08

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.04

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.11

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.09

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.13

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.33

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.33

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.33

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.34

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.38

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.38

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$829
Comparison Rate*

3.38

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.06

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.41

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.49

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.43

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.36

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

3.56

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

4.51

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

3.56

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.54

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.58

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.26

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.61

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.69

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.63

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.31

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.66

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.46

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.68

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.74

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.78

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.66

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

3.82

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

4.81

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

3.83

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.51

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.85

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

3.66

% p.a

Variable

Total estimated upfront fees
$330
Comparison Rate*

3.87

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

4.56

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

3.88

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

4.76

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

4.08

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

4.86

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

4.14

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

5.01

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

4.15

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

5.06

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

4.34

% p.a

Ongoing fee
$299 annually
Go to site
More details
Advertised Rate

5.21

% p.a

Fixed - 3 years

Total estimated upfront fees
$330
Comparison Rate*

4.35

% p.a

Ongoing fee
$299 annually
Go to site
More details

Resimac customer service

Resimac home loan customers can contact customer support through the contact centre, email or the online enquiry form. For loan application enquiries, Resimac can put you in touch with a local mobile loans consultant.

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

How to apply for a Resimac home loan

Borrowers wanting to apply for a Resimac home loan can either complete a secure online loan application form, download an application form to print, or call through to the contact centre for more support. 

Before applying for a Resimac home loan, calculate what you can afford to borrow and what other costs you need to consider.

To apply for a Resimac home loan, you will need to supply the following:

  • Proof of identity e.g. driver’s license
  • Proof of income e.g. last two payslips, or last two , tax returns if you’re self-employed
  • Three months of savings history, credit card statements and bank account statements

Resimac home loans review

Because Resimac doesn’t operate traditional bank branches, potential customers will need to contact Resimac directly or go through a broker to apply for a home loan or manage their mortgage.

Resimac offers home loans for owner occupiers and investors. Alt Doc home loans are also available for non-traditional borrowers, such as self-employed Australians and credit-impaired borrowers. You’ll have the option of making principal and interest or interest-only repayments with a Resimac home loan. Resimac’s interest rates tend to be lowest for owner occupiers paying principal and interest, with a low LVR.

It’s possible to borrow up to 95% of the property’s value with a Resimac home loan, though you may need to pay LMI. Borrowers with small deposits may be able to apply for a Resimac home loan with help from a guarantor to secure their loan with the value of their own property.

Some Resimac home loans are available with no annual fee, though you may have the option to pay an annual fee in exchange for a lower interest rate.

Offset accounts and redraw facilities are available with some Resimac home loan options.

Learn more about home loans

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.  

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.

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. 

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.

 

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 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. 

 

 

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.

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 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.

How is interest charged on a reverse mortgage from IMB Bank?

An IMB Bank reverse mortgage allows you to borrow against your home equity. You can draw down the loan amount as a lump sum, regular income stream, line of credit or a combination. The interest can either be fixed or variable. To understand the current rates, you can check the lender’s website.

No repayments are required as long as you live in the home. If you sell it or move to a senior living facility, the loan must be repaid in full. In some cases, this can also happen after you have died. Generally, the interest rates for reverse mortgages are higher than regular mortgage loans.

The interest is added to the loan amount and it is compounded. It means you’ll pay interest on the interest you accrue. Therefore, the longer you have the loan, the higher is the interest and the amount you’ll have to repay.

What do people do with a Macquarie Bank reverse?

There are a number of ways people use a Macquarie Bank reverse mortgage. Below are some reasons borrowers tend to release their home’s equity via a reverse mortgage:

  • To top up superannuation or pension income to pay for monthly bills;
  • To consolidate and repay high-interest debt like credit cards or personal loans;
  • To fund renovations, repairs or upgrades to their home
  • To help your children or grandkids through financial difficulties. 

While there are no limitations on how you can use a Macquarie reverse mortgage loan, a reverse mortgage is not right for all borrowers. Reverse mortgages compound the interest, which means you end up paying interest on your interest. They can also affect your entitlement to things like the pension It’s important to think carefully, read up and speak with your family before you apply for a reverse mortgage.

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 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. 

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 long does ANZ take to approve a home loan?

The process of applying for a home loan usually stays the same across all lenders. On the other hand, the time it takes for a lender to approve the home loan differs from lender to lender. When it comes to ANZ, it takes anywhere between 15 to 18 business days to approve a home loan from the day of the application to approval. This timeframe is highly dependent on the credibility and availability of your documentation. You can apply for an ANZ home loan in two ways; a Quick Start home loan application or a full online application.

If you opt for the Quick Start home loan option, you’ll need to fill out a form with basic details. During this stage, you don’t need to add any supporting information. An ANZ representative will then call you within 48 hours. The representative will help take your application forward, including assessing all relevant information, documentation and conducting a credit check.

You can also submit your entire home loan application with ANZ online by filling out a comprehensive form with all the information and documentation needed.

Once ANZ has conducted the preliminary checks, you’ll be informed of the pre-approved amount they’re willing to offer. Based on this amount, you can set a budget for your property search and make sure you stay inside your budget. Pre-approval will last for three months but can be extended by applying with ANZ if you don’t find a property. But it’s best to find a property as soon as possible as ANZ may decide to change the amount if your financial situation changes.

After you find a property and have your offer accepted, ANZ may send an assessor to the property to verify it’s value. If everything is per their terms and conditions, ANZ will finalise your home loan’s approval and release the funds.