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 5.00%

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

2.09%

Variable

Total estimated upfront fees
$795
Comparison Rate*

2.12%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.29%

Variable

Total estimated upfront fees
$795
Comparison Rate*

2.32%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.29%

Fixed - 3 years

Total estimated upfront fees
$795
Comparison Rate*

2.48%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.29%

Fixed - 2 years

Total estimated upfront fees
$795
Comparison Rate*

2.49%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.29%

Fixed - 1 year

Total estimated upfront fees
$795
Comparison Rate*

2.50%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

3.20%

Fixed - 1 year

Total estimated upfront fees
$795
Comparison Rate*

2.63%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.65%

Variable

Total estimated upfront fees
$795
Comparison Rate*

2.68%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.20%

Fixed - 2 years

Total estimated upfront fees
$795
Comparison Rate*

2.74%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.90%

Fixed - 5 years

Total estimated upfront fees
$795
Comparison Rate*

2.77%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.25%

Fixed - 3 years

Total estimated upfront fees
$795
Comparison Rate*

2.86%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

2.80%

Fixed - 2 years

Total estimated upfront fees
$795
Comparison Rate*

2.93%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

2.85%

Fixed - 3 years

Total estimated upfront fees
$795
Comparison Rate*

2.93%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

2.80%

Fixed - 1 year

Total estimated upfront fees
$795
Comparison Rate*

2.94%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.00%

Fixed - 5 years

Total estimated upfront fees
$795
Comparison Rate*

2.98%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.05%

Fixed - 1 year

Total estimated upfront fees
$795
Comparison Rate*

3.03%

Ongoing fee
$0
Go to site
Company
Yard
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Advertised Rate

3.02%

Variable

Total estimated upfront fees
$795
Comparison Rate*

3.05%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.05%

Fixed - 2 years

Total estimated upfront fees
$795
Comparison Rate*

3.11%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.40%

Fixed - 5 years

Total estimated upfront fees
$795
Comparison Rate*

3.14%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.16%

Variable

Total estimated upfront fees
$795
Comparison Rate*

3.19%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.10%

Fixed - 3 years

Total estimated upfront fees
$795
Comparison Rate*

3.20%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.25%

Fixed - 5 years

Total estimated upfront fees
$795
Comparison Rate*

3.42%

Ongoing fee
$0
Go to site
Company
Yard
More details
Advertised Rate

3.37%

Variable

Total estimated upfront fees
$795
Comparison Rate*

3.53%

Ongoing fee
$0
Go to site
Company
Yard
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 Yard

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

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. 

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 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.

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.

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

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.

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 '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 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.

How can I get ANZ home loan pre-approval?

Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

What is a fixed home loan?

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.

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 are the responsibilities of a mortgage broker?

Mortgage brokers act as the go-between for borrowers looking for a home loan and the lenders offering the loan. They offer personalised advice to help borrowers choose the right home loan for their needs.

In Australia, mortgage brokers are required by law to carry an Australian Credit License (ACL) if they offer credit assistance services. Which is the legal term for guidance regarding the different kinds of credit offered by lenders, including home loan mortgages. They may not need this license if they are working for an aggregator, for instance, as a franchisee. In both these situations, they need to comply with the regulations laid down by the Australian Securities and Investments Commission (ASIC).

These regulations, which are stipulated by Australian legislation, require mortgage brokers to comply with what are called “responsible lending” and “best interest” obligations. Responsible lending obligations mean brokers have to suggest “suitable” home loans. This means loans that you can easily qualify for,  actually meet your needs, and don’t prove unnecessarily challenging for you.

Starting 1 January 2021, mortgage brokers must comply with best interest obligations in addition to responsible lending obligations. These require mortgage brokers to act in the best interest of their customers and also requires them to prioritise their customers’ interests over their own. For instance, a mortgage broker may not recommend a lender who gives them a commission if that lender’s home loan offer does not benefit that particular customer.