Yard home loan repayment calculator

Thinking about taking out a home loan with Yard? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Yard 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 1.99%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Online application process
  • No application fee
  • Guarantor option available
  • No branch access
  • Annual fee on offset account
  • Discharge fee

Yard home loans rates

Advertised Rate

1.99

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.02

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.09

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.12

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.13

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.15

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.16

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.20

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.25

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.32

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.32

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.32

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.20

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.39

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.90

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.40

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.20

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.44

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.45

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.48

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.90

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.53

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.25

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.53

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.20

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.56

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.55

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.58

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.69

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.70

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.25

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.70

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.71

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.71

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.72

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.80

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.72

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.85

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.72

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.85

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.74

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.85

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.74

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.05

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.79

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.05

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.79

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.24

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.79

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.30

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.79

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.77

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.80

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.00

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.80

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.90

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.81

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.00

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.81

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.00

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.81

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.90

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.82

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.95

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.84

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.40

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.85

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.05

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.88

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.05

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.88

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.15

% p.a

Fixed - 1 year

Total estimated upfront fees
$794
Comparison Rate*

2.89

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.74

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.90

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.30

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.90

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.10

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.91

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.24

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

2.94

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.10

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.99

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.10

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

2.99

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.15

% p.a

Fixed - 2 years

Total estimated upfront fees
$794
Comparison Rate*

2.99

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.40

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

2.99

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.35

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

3.02

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.20

% p.a

Fixed - 3 years

Total estimated upfront fees
$794
Comparison Rate*

3.09

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.99

% p.a

Variable

Total estimated upfront fees
$794
Comparison Rate*

3.22

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.25

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

3.23

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.25

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

3.23

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.50

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

3.29

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.35

% p.a

Fixed - 5 years

Total estimated upfront fees
$794
Comparison Rate*

3.33

% p.a

Ongoing fee
$0
Go to site
More details

How to Apply

You can apply for a Yard home loan at the Yard website, using your computer or smart device. 

When you apply, you'll need to provide an Australian driver’s licence, passport or Medicare card. You'll also need to take a selfie on your mobile phone to verify your identity. Yard will also need to know the address the property you're buying, or the postcode of the area where you're interested in buying.

Using Yard's online application form, you can securely share your financial details, so Yard can verify your identity, credit history and financials online.

You can then select the home loan features and benefits you're interested in, and work out the interest rate and repayment schedule before you submit your application.

About Yard home loans

Yard has home loans available for owner-occupiers and investors, whether they are buying or refinancing. Variable, fixed and split interest rates are available, and it’s possible to borrow with an LVR of up to 95%. Other features of Yard’s home loans include 100% offset accounts, the option to make extra repayments, and redraw facilities.

Borrowers selling one property and buying another may be able to get a bridging loan from Yard, while those building a brand new home can apply for a construction loan.

And if you have a self-managed super fund, you may be able to invest in property to benefit your fund through an SMSF loan from Yard.

Yard home loan rates

Interest rates on Yard home loans vary from very low to moderate. Yard’s interest-only loans tend to have higher interest rates than its principal and interest loans, and the maximum interest-only period is 5 years. 

The exact rate you’ll receive may also depend whether you’re an owner occupier or an investor, as well as your employment status and your credit history.

Split rate home loans are also available from Yard, where you’re charged interest at a variable rate on part of your mortgage, and at a fixed rate on the remainder.

Yard home loans review

Yard offers home loans for a wide range of different types of borrowers. As an online-only lender, Yard is able to offer lower mortgage interest rates than many large banks, and you can quickly apply for your home loan online, supported by the Yard team. However, operating online means you won’t have the option to visit a branch to discuss your loan in person.

Yard does not charge application fees when you apply for its home loans. However, it does charge valuation, legal, and settlement fees, plus an annual fee if you have an offset account.

Borrowers seeking to apply for a home loan with the help of a guarantor may be able to do so through Yard, which offers Family Pledge and Family Guarantee home loans. By guaranteeing up to 20% of the purchase price for a new property, the borrower can apply for a loan with a smaller deposit without having to pay for Lenders Mortgage Insurance (LMI).

Learn more about home loans

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.  

Does the Home Loan Rate Promise apply to discounted interest rate offers, such as honeymoon rates?

No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Home Loan Rate Promise.

However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.

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. 

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. 

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.

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.

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 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. 

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 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.

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 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.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

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.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.