State Custodians home loan repayment calculator

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

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.49 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • State Custodians offer a variety of home loan products.
  • Flexible loan options.
  • Award winning loan products.
Cons
  • No branch network.
  • Some products include fees.

State Custodians home loans rates

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

2.49%

Variable

$0

2.51%

$0
State Custodians
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2.74%

Variable

$0

2.58%

$0
State Custodians
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2.65%

Variable

$0

2.67%

$0
State Custodians
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2.74%

Variable

$0

2.76%

$0
State Custodians
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2.74%

Variable

$0

2.76%

$0
State Custodians
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2.90%

Variable

$0

2.76%

$0
State Custodians
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2.99%

Variable

$0

2.85%

$0
State Custodians
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2.99%

Variable

$0

2.85%

$0
State Custodians
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2.90%

Variable

$0

2.92%

$0
State Custodians
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2.90%

Variable

$0

2.92%

$0
State Custodians
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2.95%

Variable

$0

2.97%

$0
State Custodians
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3.15%

Variable

$0

3.01%

$0
State Custodians
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3.15%

Variable

$0

3.01%

$0
State Custodians
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3.94%

Fixed - 1 year

$0

3.01%

$0
State Custodians
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4.09%

Fixed - 2 years

$0

3.12%

$0
State Custodians
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3.15%

Variable

$0

3.17%

$0
State Custodians
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3.20%

Variable

$0

3.22%

$0
State Custodians
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4.19%

Fixed - 1 year

$0

3.26%

$0
State Custodians
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4.29%

Fixed - 3 years

$0

3.27%

$0
State Custodians
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3.45%

Variable

$0

3.31%

$0
State Custodians
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3.45%

Variable

$0

3.31%

$0
State Custodians
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4.34%

Fixed - 2 years

$0

3.37%

$0
State Custodians
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3.40%

Variable

$0

3.42%

$0
State Custodians
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4.44%

Fixed - 4 years

$0

3.43%

$0
State Custodians
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4.54%

Fixed - 3 years

$0

3.51%

$0
State Custodians
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4.54%

Fixed - 5 years

$0

3.58%

$0
State Custodians
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4.69%

Fixed - 4 years

$0

3.66%

$0
State Custodians
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4.04%

Fixed - 1 year

$0

3.79%

$0
State Custodians
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4.79%

Fixed - 5 years

$0

3.80%

$0
State Custodians
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4.19%

Fixed - 2 years

$0

3.85%

$0
State Custodians
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4.39%

Fixed - 3 years

$0

3.94%

$0
State Custodians
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4.24%

Fixed - 1 year

$0

4.00%

$0
State Custodians
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4.54%

Fixed - 4 years

$0

4.04%

$0
State Custodians
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4.29%

Fixed - 1 year

$0

4.05%

$0
State Custodians
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4.39%

Fixed - 2 years

$0

4.05%

$0
State Custodians
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4.34%

Fixed - 1 year

$0

4.10%

$0
State Custodians
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4.44%

Fixed - 2 years

$0

4.10%

$0
State Custodians
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4.59%

Fixed - 3 years

$0

4.14%

$0
State Custodians
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4.64%

Fixed - 5 years

$0

4.14%

$0
State Custodians
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4.49%

Fixed - 2 years

$0

4.15%

$0
State Custodians
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4.64%

Fixed - 3 years

$0

4.19%

$0
State Custodians
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4.69%

Fixed - 3 years

$0

4.24%

$0
State Custodians
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4.74%

Fixed - 4 years

$0

4.24%

$0
State Custodians
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4.79%

Fixed - 4 years

$0

4.29%

$0
State Custodians
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4.59%

Fixed - 1 year

$0

4.33%

$0
State Custodians
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4.84%

Fixed - 5 years

$0

4.34%

$0
State Custodians
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4.84%

Fixed - 4 years

$0

4.34%

$0
State Custodians
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4.74%

Fixed - 2 years

$0

4.38%

$0
State Custodians
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4.89%

Fixed - 5 years

$0

4.39%

$0
State Custodians
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4.94%

Fixed - 5 years

$0

4.44%

$0
State Custodians
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4.69%

Fixed - 1 year

$0

4.45%

$0
State Custodians
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4.94%

Fixed - 3 years

$0

4.46%

$0
State Custodians
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4.84%

Fixed - 2 years

$0

4.50%

$0
State Custodians
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5.09%

Fixed - 4 years

$0

4.55%

$0
State Custodians
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5.04%

Fixed - 3 years

$0

4.59%

$0
State Custodians
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5.19%

Fixed - 5 years

$0

4.64%

$0
State Custodians
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5.19%

Fixed - 4 years

$0

4.70%

$0
State Custodians
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5.29%

Fixed - 5 years

$0

4.80%

$0
State Custodians
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State Custodians customer service

Home loan customers can contact State Custodians calling the customer support line, emailing customer support directly or via the online chat function. As State Custodians is an online only lender there is no branch network.

How to Apply

Customers wanting to apply for a State Custodians loan can apply by filling out a pre-qualification application online or by calling the bank. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income.

You will also need to provide documentation when applying for a home loan. This will include:

  • Name and contact details of each borrower.
  • Income & expenses.
  • Existing property details and liabilities.
  • If you’re self-employed you will need to include the last two Business Activity Statements (BAS), three months of business bank statements and a letter of verification from an accountant.

About State Custodians home loans

State Custodians has as a reputation for offering simple home loan products that suit the following customers:

  • First home buyers
  • Owner-occupiers
  • Investors
  • Refinancers
  • Self-employed (low-doc)
  • Line of credit

State Custodians home loans come with a range of interest rate options:

  • Principal and interest
  • Interest-only
  • Fixed rate
  • Variable rate
  • Split loans

State Custodians allows its customers to borrow up to 95 per cent of the home’s value, as long as conditions are met.

The online lender has a minimum loan amount of $100,000 and a maximum of $2,000,000.

Customers of State Custodians can make unlimited extra repayments, and free online redraw facilities are available on their home loans. All its mortgages also come with a free 100 per cent offset account.

State Custodians home loan terms range from 1-30 years and repayments can be made weekly, fortnightly or monthly.

State Custodians home loan rates

State Custodians interest rates differ depending on the product, and range from very low to moderate.

Customers of State Custodians paying principal and interest get lower interest rates than those paying interest-only, and those with lower LVRs get lower interest rates than those with higher LVRs.

However, unlike most of its competitors, who increase interest rates on their line of credit mortgages, State Custodians tends to charge similar rates to its other products.

For owner-occupiers there are products that have very low rates, however generally their rates are moderately low to moderate.

The current home loan interest rates for investors paying principal and interest range from very low to moderately low. The interest-only investor mortgage rates are moderately low.

Although the upfront fees tend to be moderately high, State Custodians’ ongoing home loans fees are generally very low, but there are some products that also have high annual fees.

State Custodians home loan review

As a challenger lender, State Custodians has a point of difference from the big banks that offer face-to-face customer service, as well as a host of other financial services - it attracts customers by offering lower than market interest rates.

As an online lender, most of its customer service is done online, but customers can also call for assistance 9am-6pm Monday to Friday.

Although State Custodians offers a wide variety of home loans, the lender doesn’t offer reverse mortgages, SMSF home loans or land and construction loans. However, unlike many lenders who turn down customers with bad credit, State Custodians offers specific mortgage products to suit these clients.

Since it began trading, State Custodians has consistently offered competitive home loan rates; in fact it has won several independent awards, including Money Magazine’s Non-Bank Lender of the Year award for 5 years in a row.

Learn more about State Custodians

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

What happens to my home loan when interest rates rise?

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

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

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

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

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.

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.

How can I calculate interest on my home loan?

You can calculate the total interest you will pay over the life of your loan by using a mortgage calculator. The calculator will estimate your repayments based on the amount you want to borrow, the interest rate, the length of your loan, whether you are an owner-occupier or an investor and whether you plan to pay ‘principal and interest’ or ‘interest-only’.

If you are buying a new home, the calculator will also help you work out how much you’ll need to pay in stamp duty and other related costs.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

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.

What is an interest-only loan? How do I work out interest-only loan repayments?

An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.

Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.

While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.

How do I know if I have to pay LMI?

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

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

What happens when you default on your mortgage?

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

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

You may also want to talk to a financial counsellor. 

How personalised is my rating?

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

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

How often is your data updated?

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