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Owner occupied products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
1 Year Your Way Plus Fixed Home Loan (Min Deposit 40%)
2.39% p.a.
2.64% p.a. Comparison rate
2.59% p.a.
2.65% p.a. Comparison rate
Your Way Plus Variable Home Loan packaged
3.09% p.a.
3.41% p.a. Comparison rate
3.29% p.a.
3.45% p.a. Comparison rate
2 Year Your Way Fixed Home Loan (Min Deposit 40%)
2.59% p.a.
2.68% p.a. Comparison rate
2.79% p.a.
2.69% p.a. Comparison rate
1 Year Your Way Plus Fixed Home Loan (Min Deposit 20%)
2.39% p.a.
2.73% p.a. Comparison rate
2.59% p.a.
2.73% p.a. Comparison rate
2 Year Your Way Plus Fixed Home Loan (Min Deposit 20%)
2.69% p.a.
2.76% p.a. Comparison rate
2.79% p.a.
2.78% p.a. Comparison rate
3 Year Your Way Plus Fixed Home Loan (Min Deposit 40%)
2.99% p.a.
2.8% p.a. Comparison rate
3.19% p.a.
2.82% p.a. Comparison rate
3 Year Your Way Plus Fixed Home Loan (Min Deposit 20%)
2.99% p.a.
2.87% p.a. Comparison rate
3.19% p.a.
2.89% p.a. Comparison rate
1 Year Your Way Plus Fixed Home Loan (Min Deposit 10%)
2.39% p.a.
2.91% p.a. Comparison rate
2.59% p.a.
2.91% p.a. Comparison rate
2 Year Your Way Plus Fixed Home Loan (Min Deposit 10%)
2.59% p.a.
2.92% p.a. Comparison rate
2.79% p.a.
2.94% p.a. Comparison rate
4 Year Your Way Plus Fixed Home Loan (Min Deposit 40%)
3.19% p.a.
2.92% p.a. Comparison rate
3.39% p.a.
2.94% p.a. Comparison rate
4 Year Your Way Plus Fixed Home Loan (Min Deposit 20%)
3.19% p.a.
2.98% p.a. Comparison rate
3.39% p.a.
3% p.a. Comparison rate
3 Year Your Way Plus Fixed Home Loan (Min Deposit 10%)
2.99% p.a.
3.02% p.a. Comparison rate
3.19% p.a.
3.04% p.a. Comparison rate
5 Year Your Way Plus Fixed Home Loan (Min Deposit 40%)
3.49% p.a.
3.1% p.a. Comparison rate
3.69% p.a.
3.12% p.a. Comparison rate
4 Year Your Way Plus Fixed Home Loan (Min Deposit 10%)
3.19% p.a.
3.12% p.a. Comparison rate
3.39% p.a.
3.14% p.a. Comparison rate
5 Year Your Way Plus Fixed Home Loan (Min Deposit 20%)
3.49% p.a.
3.16% p.a. Comparison rate
3.69% p.a.
3.18% p.a. Comparison rate
5 Year Your Way Plus Fixed Home Loan (Min Deposit 10%)
3.49% p.a.
3.28% p.a. Comparison rate
3.69% p.a.
3.3% p.a. Comparison rate
2 Year Your Way Plus Fixed Home Loan (Min Deposit 5%)
n/a
2.79% p.a.
3.35% p.a. Comparison rate
1 Year Your Way Plus Fixed Home Loan (Min Deposit 5%)
n/a
2.59% p.a.
3.36% p.a. Comparison rate
3 Year Your Way Plus Fixed Home Loan (Min Deposit 5%)
n/a
3.19% p.a.
3.41% p.a. Comparison rate
4 Year Your Way Plus Fixed Home Loan (Min Deposit 5%)
n/a
3.39% p.a.
3.48% p.a. Comparison rate
5 Year Your Way Plus Fixed Home Loan (Min Deposit 5%)
n/a
3.69% p.a.
3.61% p.a. Comparison rate
4 Year Your Way Fixed Home Loan (Min Deposit 2%)
3.34% p.a.
4.01% p.a. Comparison rate
3.54% p.a.
4.08% p.a. Comparison rate
2 Year Your Way Fixed Home Loan (Min Deposit 2%)
2.74% p.a.
4.05% p.a. Comparison rate
2.94% p.a.
4.09% p.a. Comparison rate
3 Year Your Way Fixed Home Loan (Min Deposit 2%)
3.14% p.a.
4.03% p.a. Comparison rate
3.34% p.a.
4.09% p.a. Comparison rate
5 Year Your Way Fixed Home Loan (Min Deposit 2%)
3.64% p.a.
4.07% p.a. Comparison rate
3.84% p.a.
4.15% p.a. Comparison rate
1 Year Your Way Fixed Home Loan (Min Deposit 2%)
2.54% p.a.
4.17% p.a. Comparison rate
2.74% p.a.
4.19% p.a. Comparison rate
Your Way Variable Home Loan (Min Deposit 2%)
4.29% p.a.
4.33% p.a. Comparison rate
4.49% p.a.
4.41% p.a. Comparison rate
Classic Home Loan (Min Deposit 20%)
2.34% p.a.
2.38% p.a. Comparison rate
n/a

Investment purpose products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
1 Year Your Way Plus Fixed Investment Loan (Min Deposit 40%)
2.69% p.a.
2.93% p.a. Comparison rate
2.89% p.a.
2.94% p.a. Comparison rate
Your Way Plus Variable Investment Loan packaged
3.39% p.a.
3.71% p.a. Comparison rate
3.59% p.a.
3.75% p.a. Comparison rate
2 Year Your Way Plus Fixed Investment Loan (Min Deposit 40%)
2.89% p.a.
2.97% p.a. Comparison rate
3.09% p.a.
2.99% p.a. Comparison rate
1 Year Your Way Plus Fixed Investment Loan (Min Deposit 20%)
2.69% p.a.
3.02% p.a. Comparison rate
2.89% p.a.
3.03% p.a. Comparison rate
2 Year Your Way Plus Fixed Investment Loan (Min Deposit 20%)
2.89% p.a.
3.05% p.a. Comparison rate
3.09% p.a.
3.07% p.a. Comparison rate
3 Year Your Way Plus Fixed Investment Loan (Min Deposit 40%)
3.29% p.a.
3.1% p.a. Comparison rate
3.49% p.a.
3.12% p.a. Comparison rate
3 Year Your Way Plus Fixed Investment Loan (Min Deposit 20%)
3.29% p.a.
3.17% p.a. Comparison rate
3.49% p.a.
3.19% p.a. Comparison rate
1 Year Your Way Plus Fixed Investment Loan (Min Deposit 10%)
2.69% p.a.
3.2% p.a. Comparison rate
2.89% p.a.
3.21% p.a. Comparison rate
2 Year Your Way Plus Fixed Investment Loan (Min Deposit 10%)
2.89% p.a.
3.22% p.a. Comparison rate
3.09% p.a.
3.23% p.a. Comparison rate
4 Year Your Way Plus Fixed Investment Loan (Min Deposit 40%)
3.49% p.a.
3.21% p.a. Comparison rate
3.69% p.a.
3.24% p.a. Comparison rate
4 Year Your Way Plus Fixed Investment Loan (Min Deposit 20%)
3.49% p.a.
3.28% p.a. Comparison rate
3.69% p.a.
3.3% p.a. Comparison rate
3 Year Your Way Plus Fixed Investment Loan (Min Deposit 10%)
3.29% p.a.
3.32% p.a. Comparison rate
3.49% p.a.
3.34% p.a. Comparison rate
1 Year Your Way Plus Fixed Investment Loan (Min Deposit 5%)
n/a
2.89% p.a.
3.366% p.a. Comparison rate
5 Year Your Way Plus Fixed Investment Loan (Min Deposit 40%)
3.79% p.a.
3.4% p.a. Comparison rate
3.99% p.a.
3.42% p.a. Comparison rate
4 Year Your Way Plus Fixed Investment Loan (Min Deposit 10%)
3.49% p.a.
3.41% p.a. Comparison rate
3.69% p.a.
3.44% p.a. Comparison rate
5 Year Your Way Plus Fixed Investment Loan (Min Deposit 20%)
3.79% p.a.
3.46% p.a. Comparison rate
3.99% p.a.
3.48% p.a. Comparison rate
5 Year Your Way Plus Fixed Investment Loan (Min Deposit 10%)
3.79% p.a.
3.57% p.a. Comparison rate
3.99% p.a.
3.6% p.a. Comparison rate
2 Year Your Way Plus Fixed Investment Loan (Min Deposit 5%)
n/a
3.09% p.a.
3.64% p.a. Comparison rate
3 Year Your Way Plus Fixed Investment Loan (Min Deposit 5%)
n/a
3.49% p.a.
3.71% p.a. Comparison rate
4 Year Your Way Plus Fixed Investment Loan (Min Deposit 5%)
n/a
3.69% p.a.
3.78% p.a. Comparison rate
5 Year Your Way Plus Fixed Investment Loan (Min Deposit 5%)
n/a
3.99% p.a.
3.91% p.a. Comparison rate
4 Year Your Way Fixed Investment Loan (Min Deposit 5%)
3.64% p.a.
4.31% p.a. Comparison rate
3.84% p.a.
4.38% p.a. Comparison rate
2 Year Your Way Fixed Investment Loan (Min Deposit 5%)
3.04% p.a.
4.35% p.a. Comparison rate
3.24% p.a.
4.39% p.a. Comparison rate
3 Year Your Way Fixed Investment Loan (Min Deposit 5%)
3.44% p.a.
4.33% p.a. Comparison rate
3.64% p.a.
4.39% p.a. Comparison rate
5 Year Your Way Fixed Investment Loan (Min Deposit 5%)
3.94% p.a.
4.36% p.a. Comparison rate
4.14% p.a.
4.45% p.a. Comparison rate
1 Year Your Way Fixed Investment Loan (Min Deposit 5%)
2.84% p.a.
4.47% p.a. Comparison rate
3.04% p.a.
4.49% p.a. Comparison rate
Your Way Variable Investment Loan (Min Deposit 5%)
4.59% p.a.
4.63% p.a. Comparison rate
4.79% p.a.
4.71% p.a. Comparison rate
Your Way Plus Variable Home Loan packaged
2.59% p.a.
2.92% p.a. Comparison rate
n/a
Classic Home Loan (Min Deposit 15%)
3.19% p.a.
3.23% p.a. Comparison rate
n/a

Home loan repayment calculator

Thinking about taking out a home loan with UniBank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how UniBank 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 2.29%

Total interest payable

$0

Total loan repayments

$0

Learn more about home loans

Cash or mortgage – which is more suitable to buy an investment property?

Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

What are the features of home loans for expats from Westpac?

If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

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.

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. 

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.

How much can I borrow with a guaranteed home loan?

Some lenders will allow you to borrow 100 per cent of the value of the property with a guaranteed home loan. For that to happen, the lender would have to feel confident in your ability to pay off the mortgage and in the security provided by your guarantor.

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 common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

What happens if I don’t know my monthly repayments?

Your repayments should appear on your bank statements or your internet banking. If you make weekly or fortnightly repayments, make sure you convert them to monthly calculations.

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

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

How does it work? What are the steps involved?

To check your rate, start by entering your contact details and home loan information at ratecity.com.au. We’ll compare your current home loan to other options in our database, and let you know how much you could save by refinancing.  

If we can’t beat your current rate, you can claim a $100 gift card by confirming your home loan details with us.*

Who can enter?

Any Australian resident who is over 18 and currently has a personal home loan is eligible for our Home Loan Rate Promise. See terms and conditions.

What is the Home Loan Rate Promise?

The Home Loan Rate Promise is RateCity putting its money where its mouth is. We believe that too many Australians are paying too much for their home loans. We’re so confident we can help Aussies save money, if we can’t beat your current rate, we’ll give you a $100 gift card.*

There are two reasons it pays to check your rate with the Home Loan Rate Promise:

  • You can find out how much you could save on your home loan by switching to a loan with a lower interest rate
  • If we can’t beat your current rate, you can claim a $100 gift card with our Home Loan Rate Promise*

Are you REALLY giving away a million bucks?

We are giving away, for one lucky entrant, the chance to win $1 million. Here’s how it will work:

On 21 May 2020, one winner will be drawn from all the entries. This winner will then get a one in 200 shot at winning one million dollars. Even if they’re unlucky and don’t win the one million, they’ll still leave $5000 richer.