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St.George Bank
In 1937, St.George was founded in Sydney’s southern suburbs. Since then, it has grown to become one of Australia’s largest banks. In December 2008, St.George merged with Westpac Banking Corporation and is now known as St.George Bank. St.George Bank offers its customers a wide range of home loan products, in addition to savings and transaction accounts, personal and car loans, credit cards and business banking.
St.George Bank home loan repayment calculator
Thinking about taking out a home loan with St.George Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how St.George Bank home loans compare with other options.
Your estimated mortgage repayments
at interest rate 1.89%
Total interest payable
$0
Total loan repayments
$0
Pros and cons
- Large variety of home loans
- Package deals available to bundle other financial products together
- Comprehensive customer service offering
- Some loans offer discounted interest rates for new customers or package deals
- Fees and charges apply to loans
- Higher rates for some riskier customers
St.George Bank home loans rates
Advertised Rate 2.44 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.46 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.49 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.51 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.54 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.56 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.74 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.76 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.79 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.81 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.84 % p.a Variable | Total estimated upfront fees $264 | Comparison Rate* 2.86 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.94 % p.a Variable | Total estimated upfront fees $764 | Comparison Rate* 2.96 % p.a | Ongoing fee $0 | Go to site | More details | |
Advertised Rate 2.99 % p.a Variable | Total estimated upfront fees $764 | Comparison Rate* 3.01 % p.a | Ongoing fee $0 | Go to site | More details | |
Product | Advertised Rate 3.09 % p.a Variable | Total estimated upfront fees $764 | Comparison Rate* 3.11 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.14 % p.a Variable | Total estimated upfront fees $764 | Comparison Rate* 3.16 % p.a | Ongoing fee $0 | Go to site | More details |
Advertised Rate 1.98 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.27 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.24 % p.a Fixed - 4 years | Total estimated upfront fees $264 | Comparison Rate* 3.31 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.49 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.31 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.03 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.32 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 1.89 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.35 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.29 % p.a Fixed - 4 years | Total estimated upfront fees $264 | Comparison Rate* 3.35 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.54 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.36 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.08 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.37 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 1.94 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.40 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.59 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.41 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 1.99 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.44 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 1.99 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 3.46 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.04 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 3.51 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.09 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 3.56 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 3.14 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.57 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 3.19 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.62 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 3.24 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.67 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.71 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.74 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.76 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.39 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.78 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 4 years | Total estimated upfront fees $264 | Comparison Rate* 3.78 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.79 % p.a Fixed - 5 years | Total estimated upfront fees $264 | Comparison Rate* 3.80 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.79 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.80 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.44 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.82 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.74 % p.a Fixed - 4 years | Total estimated upfront fees $264 | Comparison Rate* 3.83 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.19 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.84 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.49 % p.a Fixed - 3 years | Total estimated upfront fees $264 | Comparison Rate* 3.87 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.79 % p.a Fixed - 4 years | Total estimated upfront fees $264 | Comparison Rate* 3.87 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.24 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.89 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.64 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 3.90 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.34 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 3.93 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.29 % p.a Fixed - 2 years | Total estimated upfront fees $264 | Comparison Rate* 3.94 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.69 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 3.95 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.89 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.95 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.39 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 3.97 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.49 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 4.00 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.74 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.00 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.94 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 4.00 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.44 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 4.02 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.13 % p.a Fixed - 3 years | Total estimated upfront fees $864 | Comparison Rate* 4.03 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.59 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.03 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.89 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.03 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.54 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 4.05 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.99 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 4.05 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.18 % p.a Fixed - 3 years | Total estimated upfront fees $864 | Comparison Rate* 4.08 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.64 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.08 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.94 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.08 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.59 % p.a Fixed - 1 year | Total estimated upfront fees $264 | Comparison Rate* 4.09 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.59 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.10 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.39 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.11 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.59 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.11 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.23 % p.a Fixed - 3 years | Total estimated upfront fees $864 | Comparison Rate* 4.12 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.99 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.12 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.59 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 4.12 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 3.70 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.12 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 2.69 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.13 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.73 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.14 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.64 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.15 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.44 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.16 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.64 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.16 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 3.75 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.16 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.64 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 4.17 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.78 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.19 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.04 % p.a Fixed - 2 years | Total estimated upfront fees $864 | Comparison Rate* 4.20 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 2.49 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.20 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Advertised Rate 3.80 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.21 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.09 % p.a Fixed - 2 years | Total estimated upfront fees $864 | Comparison Rate* 4.24 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 3.83 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.24 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 4.04 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.24 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 4.04 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 4.26 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.69 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 4.27 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.14 % p.a Fixed - 2 years | Total estimated upfront fees $864 | Comparison Rate* 4.29 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 4.09 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.29 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.84 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.30 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 4.09 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 4.31 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.74 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 4.32 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.89 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.35 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.94 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.40 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 3.99 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.40 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.14 % p.a Fixed - 1 year | Total estimated upfront fees $864 | Comparison Rate* 4.41 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.99 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.44 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.84 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 4.45 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 4.04 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.45 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.19 % p.a Fixed - 1 year | Total estimated upfront fees $864 | Comparison Rate* 4.46 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.89 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 4.50 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Advertised Rate 4.09 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.50 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.24 % p.a Fixed - 1 year | Total estimated upfront fees $864 | Comparison Rate* 4.51 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.54 % p.a Fixed - 3 years | Total estimated upfront fees $864 | Comparison Rate* 4.53 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 3.04 % p.a Fixed - 5 years | Total estimated upfront fees $864 | Comparison Rate* 4.54 % p.a | Ongoing fee $10 monthly | Go to site | More details |
Product | Advertised Rate 2.94 % p.a Fixed - 4 years | Total estimated upfront fees $864 | Comparison Rate* 4.55 % p.a | Ongoing fee $10 monthly | Go to site | More details |
St.George Bank customer service
Home Loan customers can contact St. George Bank by phone, by popping into a branch, by submitting an online enquiry form or chatting to a customer support staff member via online chat.
✓ Customer service centre (phone)
✓ Mobile app
✓ Online banking
✓ Email
✓ Live Chat
✓ Branch
✓ Mobile banking staff
How to apply for a St George home loan
You can apply for a home loan from St.George by calling the bank, applying online, or visiting a branch.
Before applying for a home loan, it’s important to calculate how much you can realistically afford to borrow and comfortably repay in your current financial situation.
You will also need to provide documentation when applying for a home loan, including:
- Identification that includes the name and contact details of each borrower.
- Details of your current income and expenses.
- Records of any current assets or liabilities.
St.George home loans review
St.George is part of the Westpac banking group, and is able to offer a wide range of home loan options to different customers. Fixed and variable rate home loans are available for owner occupiers and investors, including first home buyers and refinancers. A building loan is also available for borrowers looking for money to help them build a property, and a portfolio loan offers a line of credit.
St.George’s lowest interest rates tend to be for owner occupiers with low LVRs, especially if they choose to package their home loan with other St.George Bank financial products. Variable and fixed interest rates are available, with the option to fix for up to five years. Split interest rates are also available on some St.George home loans.
Several of St.George Bank’s home loans charge upfront and ongoing fees, which could affect its overall cost. Some charge a monthly account keeping fee, while bundled home loan charge a higher annual package fee.
Extra repayments and redraws are available on St.George home loans. Full and partial offset accounts are also available with some mortgage options. And borrowers with low deposits may be able to get a guarantor in their family to help secure their loan with their own property.
Learn more about home loans
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.
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.
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 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.
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 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.
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.
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.
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.
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.
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.
Is a home equity loan secured or unsecured?
Home equity is the difference between its current market price and the outstanding balance on the mortgage loan. The amount you can borrow against the equity in your property is known as a home equity loan.
A home equity loan is secured against your property. It means the lender can recoup your property if you default on the repayments. A secured home equity loan is available at a competitive rate of interest and may be repaid over the long-term. Although a home equity loan is secured, lenders will assess your income, expenses, and other liabilities before approving your application. You’ll also want a good credit score to qualify for a home equity loan.
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 I get a home renovation loan with bad credit?
If you're looking for funds to pay for repairs or renovations to your home, but you have a low credit score, you need to carefully consider your options. If you already have a mortgage, a good starting point is to check whether you can redraw money from that. You could also consider applying for a new home loan.
Before taking out a new loan, it’s good to note that lenders are likely to charge higher interest rates on home repair loans for bad credit customers. Alternatively, they may be willing to lend you a smaller amount than a standard loan. You may also face some challenges with getting your home renovation loan application approved. If you do run into trouble, you can speak to your lender and ask whether they would be willing to approve your application if you have a guarantor or co-signer. You should also explain the reasons behind your bad credit rating and the steps that you’re taking to improve it.
Consulting a financial advisor or mortgage broker can help you understand your options and make the right choice.
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.
