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Maximum Borrowing Capacity


This is estimated based on the information you provided.*

Loan Amount

Loan Amount


This is estimated based on the information you provided.*

Loan details

Your estimated monthly repayments
Your estimated interest rate

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*The information provided above is a rough guide and does not consider other factors such as your current interest rate, non mortgage debt or partner's financial situation. Please speak to an eChoice broker for further details.

  1. We compare and select the best home loan deals in your area.
  2. We get in touch with you to talk you through your options.
  3. Your broker negotiates an even better deal for you.
  4. You choose a personalised home loan offer at no cost to you.

These results are based on the information provided and do not constitute financial advice. This report acts as a guide in determining the interest rate available based on your search criteria and lender panel (powered by ACL 390502). There may be other factors that you have not disclosed to us that may affect your results, including "Your Interest Rate". These results do not constitute any individual product listing. These results may vary and may not be available from the lender who makes contact with you.

Terms & Conditions Apply: These results are powered by eChoice Pty Ltd | ABN 59 082 572 683 | Australia Credit License 390528 and eChoice Home Loans Pty Ltd | ABN 61 069 528 463 | Australian Credit License 390502. eChoice and its partners will receive a fee for this referral. We endeavour to ensure the information and data published is current and accurate. You should confirm any information with the product or service provider. If you are unsure, we recommend you seek independent advice.

WARNING: Estimated interest rate is based on a loan of $150,000 for a term of 25 years. This rate applies only to the example or examples given. Different amounts and terms will result in different estimated rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Terms and conditions, fees and charges apply. Interest rates for existing borrowers may vary to the advertised rate on this website. Interest rate is correct as at last update.

Buying a home is often an exciting experience. But, if you don’t understand the process and the mortgage industry, then it can also be daunting and even a little scary. In order to help you avoid some common mistakes that first home buyers make, we’ve answered some of the most frequently asked questions.

How much do I need for a deposit?

You’ll need a minimum deposit of 10 percent of the purchase price of a property to take out a home loan. But, it is more cost effective for you if you have a 20 percent deposit as this gives you more equity in your property and means less risk for your lender. This, in turn, can reduce the amount of interest that you’ll pay on your home loan.

Plus, if you only have a 10 percent deposit, you may find that you’ll be asked to pay Lenders Mortgage Insurance (LMI), which is costly and can add thousands to your home loan principle. This insurance covers the lender against financial loss should you default on your home loan payments.

What home loan types are available?

There are numerous types of home loans in the industry. The most common are as follows:

Principal and interest: This is where you pay a portion of your home loan principle and the interest that your loan incurs monthly.

Interest only: This is where you only pay the interest on your home loan per month. At the end of your home loan you’ll pay back the principal you borrowed.

Variable rate: A home loan that has a rate that fluctuates with the rise and fall of the official cash rate.

Fixed rate: A home loan that has a fixed rate for an agreed term of usually 1, 2, 3 or 5 years. After the term ends the rate of the loan will revert to a variable rate.

What is a base-rate home loan?

This is a no-frills variable home loan that will give you the lowest possible rate. But, this home loan typically comes with no features.

What type of home loan should I be looking for?

The right home loan for you is the home loan that meets your needs and requirements, which gives you flexibility and is affordable. To find the right home loan, consider what home loan features you’ll use and what type of home loan you want. Then compare these home loans for the best rate.

What type of home loan features are available?

Home loan features give you scmc_logo.png payment flexibility, but typically the interest rate on home loans with features are slightly higher. The most common features you’ll encounter are:

  • Extra repayments without incurring a penalty.
  • Offset accounts, where you can deposit all of your money into this account and the balance will then reduce your mortgage interest.
  • A redraw facility, where any extra money paid off your home loan can be used at a later date as a loan if you need it.
How much do I need for fees, charges and stamp duty?

All lenders charge different fees, so you’ll need to ask about these when you research home loans. Make sure you also ask about any other additional charges.

Stamp duty depends on the value of the property you’re buying and what state the property is situated in. To calculate your stamp duty use an online calculator.

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