RateCity.com.au
powering smart financial decisions
RateCity.com.au

Pros

  • Can accommodate people with smaller deposits.
  • Opportunity to bundle financial products together.
  • Offers discounts on the interest rate.
  • Flexible repayment schedule with weekly, fortnightly and monthly repayment options.

Cons

  • Limited home loan products to choose from.
  • Some products have moderate to high fees.

Owner occupied Auswide Bank home loan rates

Loan typePrincipal & Interest rateInterest Only
Freedom Package Revert Variable (Min Deposit 20%)
n/a

Interest Rate

5.51% p.a.

Comparison Rate

5.87% p.a.

1 Year Freedom Package (Min Deposit 20%)
n/a

Interest Rate

5.79% p.a.

Comparison Rate

5.89% p.a.

2 Year Freedom Package (Min Deposit 20%)
n/a

Interest Rate

6.09% p.a.

Comparison Rate

5.98% p.a.

3 Year Freedom Package (Min Deposit 20%)
n/a

Interest Rate

6.19% p.a.

Comparison Rate

6.05% p.a.

4 Year Freedom Package (Min Deposit 20%)
n/a

Interest Rate

6.19% p.a.

Comparison Rate

6.11% p.a.

5 Year Freedom Package (Min Deposit 20%)
n/a

Interest Rate

6.19% p.a.

Comparison Rate

6.16% p.a.

Freedom Package (Min Deposit 20%)
n/a

Interest Rate

6.64% p.a.

Comparison Rate

7.03% p.a.

Home Loan Plus (Min Deposit 20%)
n/a

Interest Rate

6.76% p.a.

Comparison Rate

6.91% p.a.

Basic Home Loan (Min Deposit 25%)

Interest Rate

3.71% p.a.

Comparison Rate

3.73% p.a.

n/a
Basic Home Loan (Min Deposit 10%)

Interest Rate

4.01% p.a.

Comparison Rate

4.03% p.a.

n/a
Freedom Package (Min Deposit 25%)

Interest Rate

3.81% p.a.

Comparison Rate

4.2% p.a.

n/a
Freedom Package (Min Deposit 10%)

Interest Rate

4.11% p.a.

Comparison Rate

4.49% p.a.

n/a
1 Year Freedom Package (Min Deposit 25%)

Interest Rate

4.69% p.a.

Comparison Rate

5.78% p.a.

n/a
1 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.09% p.a.

Comparison Rate

5.82% p.a.

n/a
2 Year Freedom Package (Min Deposit 25%)

Interest Rate

5.29% p.a.

Comparison Rate

5.82% p.a.

n/a
2 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.49% p.a.

Comparison Rate

5.86% p.a.

n/a
Freedom Package Revert Variable (Min Deposit 10%)

Interest Rate

5.51% p.a.

Comparison Rate

5.87% p.a.

n/a
3 Year Freedom Package (Min Deposit 25%)

Interest Rate

5.69% p.a.

Comparison Rate

5.91% p.a.

n/a
3 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.89% p.a.

Comparison Rate

5.97% p.a.

n/a
4 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.89% p.a.

Comparison Rate

6% p.a.

n/a
5 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.99% p.a.

Comparison Rate

6.07% p.a.

n/a
Freedom Package (Min Deposit 5%)

Interest Rate

5.76% p.a.

Comparison Rate

6.11% p.a.

n/a
Freedom Package Revert Variable (Min Deposit 5%)

Interest Rate

5.76% p.a.

Comparison Rate

6.11% p.a.

n/a
1 Year Freedom Package (Min Deposit 5%)

Interest Rate

5.79% p.a.

Comparison Rate

6.11% p.a.

n/a
2 Year Freedom Package (Min Deposit 5%)

Interest Rate

6.09% p.a.

Comparison Rate

6.17% p.a.

n/a
3 Year Freedom Package (Min Deposit 5%)

Interest Rate

6.09% p.a.

Comparison Rate

6.2% p.a.

n/a
4 Year Freedom Package (Min Deposit 5%)

Interest Rate

6.09% p.a.

Comparison Rate

6.23% p.a.

n/a
5 Year Freedom Package (Min Deposit 5%)

Interest Rate

6.09% p.a.

Comparison Rate

6.25% p.a.

n/a

Investment purpose Auswide Bank home loan rates

Loan typePrincipal & Interest rateInterest Only
Basic Investment Loan (Min Deposit 25%)

Interest Rate

3.91% p.a.

Comparison Rate

3.93% p.a.

Interest Rate

4.31% p.a.

Comparison Rate

4.33% p.a.

Basic Investment Loan (Min Deposit 10%)

Interest Rate

4.11% p.a.

Comparison Rate

4.13% p.a.

Interest Rate

4.51% p.a.

Comparison Rate

4.53% p.a.

Freedom Package (Min Deposit 25%)

Interest Rate

4.01% p.a.

Comparison Rate

4.4% p.a.

Interest Rate

4.41% p.a.

Comparison Rate

4.79% p.a.

Freedom Package (Min Deposit 10%)

Interest Rate

4.31% p.a.

Comparison Rate

4.69% p.a.

Interest Rate

7.16% p.a.

Comparison Rate

7.54% p.a.

1 Year Freedom Package (Min Deposit 25%)

Interest Rate

4.89% p.a.

Comparison Rate

6.37% p.a.

Interest Rate

5.09% p.a.

Comparison Rate

6.39% p.a.

2 Year Freedom Package (Min Deposit 25%)

Interest Rate

5.39% p.a.

Comparison Rate

6.35% p.a.

Interest Rate

5.59% p.a.

Comparison Rate

6.39% p.a.

2 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.49% p.a.

Comparison Rate

6.37% p.a.

Interest Rate

5.69% p.a.

Comparison Rate

6.41% p.a.

1 Year Freedom Package (Min Deposit 10%)

Interest Rate

5.09% p.a.

Comparison Rate

6.39% p.a.

Interest Rate

5.29% p.a.

Comparison Rate

6.42% p.a.

3 Year Freedom Package (Min Deposit 25%)

Interest Rate

5.89% p.a.

Comparison Rate

6.43% p.a.

Interest Rate

6.09% p.a.

Comparison Rate

6.48% p.a.

3 Year Freedom Package (Min Deposit 10%)

Interest Rate

6.09% p.a.

Comparison Rate

6.48% p.a.

Interest Rate

6.29% p.a.

Comparison Rate

6.54% p.a.

4 Year Freedom Package (Min Deposit 10%)

Interest Rate

6.29% p.a.

Comparison Rate

6.55% p.a.

Interest Rate

6.59% p.a.

Comparison Rate

6.66% p.a.

5 Year Freedom Package (Min Deposit 10%)

Interest Rate

6.29% p.a.

Comparison Rate

6.56% p.a.

Interest Rate

6.59% p.a.

Comparison Rate

6.69% p.a.

Freedom Package Revert Variable (Min Deposit 10%)

Interest Rate

6.16% p.a.

Comparison Rate

6.5% p.a.

n/a

Auswide Bank home loan calculator

Thinking about taking out a home loan with Auswide Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Auswide Bank 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 3.71%

Total interest payable

$0

Total loan repayments

$0

Contact a mortgage broker

Auswide Bank homeloans are vailable through brokers who can help find the right loan and manage your application at no charge.

Lee HAO
5.0
326 Reviews
Lee is a graduate of Monash University with a Bachelor of Commerce and Arts. Lee is strongly passionate about the real estate market and banks since he was a student. Driven by this passion, together with experience in consulting companies and banks, Lee hopes to educate and guide her clients throughout their real estate ownership journey. Lee believes in placing the clients at the centre of every relationship and building trust through honesty and reliability. 'I want to empower my clients' every property dream and hope to service them until they retire with rent.' 'I will not try to sell you a deal that I will not sell it to my mom.' That's his principle. We are here to fight for the best possible deal for every customer. We have a great relationship with more than 30 lenders. Not that they happen to be on our panel but we actually settled with them and know their policies and procedure inside out. We do not recommend any lenders or products without a personalized and on time research for you. So our process ensure the deals we present are in your best interest hot and fresh. Our standard operation procedure is: 1) Free consultation by phone or zoom to understand your needs. Answer your burning questions. 2) Collect information, facts and document to conduct research for you. Give us a chance and allow us to make a positive impact on your personal finance; Research will usually take 2-3 business days. For more complicate cases may take longer on notice case by case. 3) Present solutions via zoom or in person. 30-60 mins. Also including a property purchase or investment strategy session. 4) Once you made the decision it takes 2-10 business days to proceed and obtain a pre-approval or refinance formal approval. Other days and procedure will be designed and notice according to your situation. 5) Free after settlement review every year too. Service Satisfaction guarantee!!** Call me and let's chat.
VIC3128
CRN: 484532

Auswide Bank customer service

Auswide Bank has a nationwide lending presence supported through branches, a network of lending consultants and the company website. If Auswide Bank home loan customers can’t go into a branch they can get in touch via telephone, or use internet-based services such as email, online banking and the mobile app. Customers can also contact Auswide Bank staff online via the website’s live chat facility.

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

How to Apply

There are two ways to apply for an Auswide Bank home loan: in person by visiting an Auswide Bank branch or via the company’s website. Before submitting a loan application borrowers should fully consider their budget. They can use helpful tools such as a repayment calculator to receive an indication of how much a home loan is likely to cost. To support all home loan applications Auswide Bank requires a range of documentation that includes:

  • Proof of identification.
  • Occupation and/or employer details.
  • Gross monthly income from all sources.
  • Asset details (a list of what you own, such as property, motor vehicles, shares, furniture, superannuation, and their values).
  • Existing loans (home loans, personal loans, leasing contracts, hire purchase).
  • Credit card limits and current balances.
  • Savings account details.
  • Details of the property you are offering as security for the loan.

Learn more about home loans

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.

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. 

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.

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.

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 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 do you compare home loans?

To compare home loans, you can assess the components of the loan against your own financial situation and other mortgages in the market.

Look at the interest rate, rate type (fixed or variable), loan fees, features, loan term, repayment frequency and more to find a home loan that fits with your budget and property goals.

Then, use comparison tools like comparison tables, calculators, or RateCity's Real Time RatingsTM to create a short list of home loan options, and decide which home loan best suits your needs.

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

What are the benefits of getting a pre-approved home loan from Citi?

While hunting for your dream home, getting a Citi 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 Citi 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.

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.  

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.

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.

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 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.