The Mutual home loan repayment calculator

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

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 2.14 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible payment features.
  • Wide variety of variable loans.
  • Discounted rates available.
  • Limited interest-only payments.

The Mutual home loans rates

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

2.14%

Fixed - 3 years

$150

3.55%

$395 annually
The Mutual
More details

3.58%

Variable

$150

3.59%

$0
The Mutual
More details

2.14%

Fixed - 2 years

$150

3.66%

$395 annually
The Mutual
More details

2.24%

Fixed - 3 years

$450

3.67%

$0
The Mutual
More details

2.14%

Fixed - 1 year

$150

3.77%

$395 annually
The Mutual
More details

3.78%

Variable

$450

3.80%

$0
The Mutual
More details

3.78%

Variable

$450

3.80%

$0
The Mutual
More details

2.24%

Fixed - 2 years

$450

3.82%

$0
The Mutual
More details

2.98%

Intro 12 months

$450

3.84%

$395 annually
The Mutual
More details

3.48%

Variable

$150

3.89%

$395 annually
The Mutual
More details

3.48%

Variable

$150

3.89%

$395 annually
The Mutual
More details

2.24%

Fixed - 1 year

$450

3.98%

$0
The Mutual
More details

3.98%

Variable

$150

3.98%

$0
The Mutual
More details

2.99%

Fixed - 3 years

$150

4.06%

$395 annually
The Mutual
More details

2.94%

Fixed - 2 years

$150

4.11%

$395 annually
The Mutual
More details

4.13%

Variable

$650

4.17%

$0
The Mutual
More details

4.13%

Variable

$650

4.17%

$0
The Mutual
More details

3.09%

Fixed - 3 years

$450

4.18%

$0
The Mutual
More details

2.89%

Fixed - 1 year

$150

4.19%

$395 annually
The Mutual
More details

4.18%

Variable

$450

4.20%

$0
The Mutual
More details

4.18%

Variable

$450

4.20%

$0
The Mutual
More details

3.04%

Fixed - 2 years

$450

4.28%

$0
The Mutual
More details

3.88%

Variable

$150

4.28%

$395 annually
The Mutual
More details

3.88%

Variable

$150

4.28%

$395 annually
The Mutual
More details

4.38%

Variable

$150

4.38%

$0
The Mutual
More details

2.99%

Fixed - 1 year

$450

4.41%

$0
The Mutual
More details

4.39%

Variable

$450

4.54%

$10 monthly
The Mutual
More details

4.53%

Variable

$650

4.57%

$0
The Mutual
More details

4.53%

Variable

$650

4.57%

$0
The Mutual
More details

4.78%

Variable

$150

4.78%

$0
The Mutual
More details

The Mutual customer service

Home loan customers at The Mutual can contact the building society by a number of methods. There is a general customer phone line, as well as a dedicated line for phone banking and for those experiencing financial hardship. Customers can also contact The Mutual online via website, by email, or by visiting a staff member in person at a local branch.

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

How to Apply

The Mutual allows potential customers with to apply for a home loan in multiple ways. These include calling the bank, applying online via The Mutual website, or visiting a home loan specialist in person at a local branch. Customers can also make enquiries about home loan products online or by email. 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:

  • Personal identification documents.
  • Proof of income – whether you are self-employed or work for an employer.
  • Proof of assets, earnings and other income.
  • Details of other loans, debts, liabilities and expenses.
  • Personal insurance documents.

Learn more about The Mutual

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

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 does a redraw facility work?

A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

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 will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

Mortgage Balance

The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

What is a valuation and valuation fee?

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

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

Mortgage Calculator, Deposit

The proportion you have already saved to go towards your home. 

Can I take a personal loan after a home loan?

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

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

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

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

What is a specialist lender?

Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks.

That includes people with bad credit, as well as borrowers who are self-employed, in casual employment or are new to Australia.

Specialist lenders take a much more flexible approach to assessing mortgage applications than mainstream banks.

What factors does Real Time Ratings consider?

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

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

Mortgage Calculator, Loan Purpose

This is what you will use the loan for – i.e. investment. 

Why should you trust Real Time Ratings?

Real Time Ratings™ was conceived by a team of data experts who have been analysing trends and behaviour in the home loan market for more than a decade. It was designed purely to meet the evolving needs of home loan customers who wish to merge low cost with flexible features quickly. We believe it fills a glaring gap in the market by frequently re-rating loan products based on the changes lenders make daily.

Real Time Ratings™ is a new idea and will change over time to match the frequently-evolving demands of the market. Some things won’t change though – it will always rate all relevent products in our database and will not be influenced by advertising.

If you have any feedback about Real Time Ratings™, please get in touch.