Hume Bank home loan repayment calculator

Thinking about taking out a home loan with Hume Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Hume Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 3.39 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Variety of home loan products to choose from.
  • These loans can be bundled with other financial products.
  • Home loans have a range of flexible features.
  • Limited branch access.
  • Some loans have higher fees and interest rates.
  • Most loans have an application fee.

Hume Bank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

3.39%

Variable

$0

3.39%

$0
Hume Bank
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3.39%

Variable

$0

3.39%

$0
Hume Bank
More details

3.79%

Variable

$0

3.79%

$0
Hume Bank
More details

3.79%

Variable

$750

3.79%

$0
Hume Bank
More details

4.10%

Variable

$750

4.14%

$0
Hume Bank
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4.14%

Variable

$750

4.14%

$0
Hume Bank
More details

2.98%

Fixed - 2 years

$150

4.25%

$375 annually
Hume Bank
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2.98%

Intro 24 months

$150

4.25%

$375 annually
Hume Bank
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3.08%

Intro 24 months

$750

4.25%

$0
Hume Bank
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3.95%

Variable

$0

4.34%

$375 annually
Hume Bank
More details

3.44%

Fixed - 3 years

$0

4.38%

$375 annually
Hume Bank
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4.50%

Variable

$750

4.39%

$0
Hume Bank
More details

3.24%

Fixed - 2 years

$0

4.41%

$375 annually
Hume Bank
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3.89%

Fixed - 5 years

$0

4.46%

$375 annually
Hume Bank
More details

3.54%

Fixed - 3 years

$750

4.47%

$0
Hume Bank
More details

3.89%

Fixed - 4 years

$0

4.48%

$375 annually
Hume Bank
More details

3.99%

Fixed - 5 years

$750

4.48%

$0
Hume Bank
More details

3.55%

Fixed - 1 year

$0

4.52%

$375 annually
Hume Bank
More details

3.34%

Fixed - 2 years

$750

4.53%

$0
Hume Bank
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3.99%

Fixed - 4 years

$750

4.53%

$0
Hume Bank
More details

4.09%

Fixed - 2 years

$0

4.56%

$375 annually
Hume Bank
More details

4.05%

Fixed - 1 year

$0

4.57%

$375 annually
Hume Bank
More details

4.19%

Fixed - 3 years

$0

4.58%

$375 annually
Hume Bank
More details

4.55%

Variable

$750

4.59%

$0
Hume Bank
More details

4.29%

Fixed - 3 years

$750

4.67%

$0
Hume Bank
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3.65%

Fixed - 1 year

$750

4.68%

$0
Hume Bank
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4.19%

Fixed - 2 years

$750

4.69%

$0
Hume Bank
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4.60%

Fixed - 4 years

$0

4.72%

$375 annually
Hume Bank
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4.15%

Fixed - 1 year

$750

4.73%

$0
Hume Bank
More details

4.35%

Variable

$0

4.73%

$375 annually
Hume Bank
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4.60%

Fixed - 5 years

$0

4.75%

$375 annually
Hume Bank
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4.70%

Fixed - 4 years

$750

4.77%

$0
Hume Bank
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4.70%

Fixed - 5 years

$750

4.77%

$0
Hume Bank
More details

4.75%

Variable

$750

4.79%

$0
Hume Bank
More details

4.90%

Variable

$750

4.79%

$0
Hume Bank
More details

3.69%

Fixed - 3 years

$0

4.81%

$375 annually
Hume Bank
More details

4.50%

Variable

$0

4.88%

$375 annually
Hume Bank
More details

3.69%

Fixed - 2 years

$0

4.89%

$375 annually
Hume Bank
More details

3.79%

Fixed - 3 years

$750

4.93%

$0
Hume Bank
More details

4.35%

Fixed - 5 years

$0

4.93%

$375 annually
Hume Bank
More details

4.19%

Fixed - 3 years

$0

4.94%

$375 annually
Hume Bank
More details

4.35%

Fixed - 4 years

$0

4.95%

$375 annually
Hume Bank
More details

4.19%

Fixed - 2 years

$0

4.98%

$375 annually
Hume Bank
More details

4.45%

Fixed - 5 years

$750

4.98%

$0
Hume Bank
More details

4.09%

Fixed - 1 year

$0

5.02%

$375 annually
Hume Bank
More details

4.45%

Fixed - 4 years

$750

5.04%

$0
Hume Bank
More details

4.49%

Fixed - 1 year

$0

5.05%

$375 annually
Hume Bank
More details

5.15%

Variable

$750

5.05%

$0
Hume Bank
More details

3.79%

Fixed - 2 years

$750

5.06%

$0
Hume Bank
More details

4.29%

Fixed - 3 years

$750

5.07%

$0
Hume Bank
More details

4.80%

Fixed - 4 years

$0

5.11%

$375 annually
Hume Bank
More details

4.80%

Fixed - 5 years

$0

5.12%

$375 annually
Hume Bank
More details

4.29%

Fixed - 2 years

$750

5.15%

$0
Hume Bank
More details

4.80%

Variable

$0

5.17%

$375 annually
Hume Bank
More details

4.90%

Fixed - 5 years

$750

5.17%

$0
Hume Bank
More details

4.90%

Fixed - 4 years

$750

5.20%

$0
Hume Bank
More details

4.85%

Variable

$0

5.22%

$375 annually
Hume Bank
More details

4.19%

Fixed - 1 year

$750

5.23%

$0
Hume Bank
More details

4.59%

Fixed - 1 year

$750

5.27%

$0
Hume Bank
More details

5.30%

Variable

$750

5.34%

$0
Hume Bank
More details

5.05%

Variable

$0

5.42%

$375 annually
Hume Bank
More details

5.65%

Variable

$750

5.55%

$0
Hume Bank
More details

5.30%

Variable

$0

5.66%

$375 annually
Hume Bank
More details

5.60%

Variable

$750

5.66%

$0
Hume Bank
More details

5.85%

Variable

$750

5.91%

$0
Hume Bank
More details

6.10%

Variable

$750

6.16%

$0
Hume Bank
More details

Hume Bank customer service

Hume Bank customers can contact the bank via a range of specialised hotlines, including a direct line to the loan enquiries contact centre and a Financial Planning Enquiries line. There is also an after-hours emergency number for lost or stolen cards and a financial hardship hotline if you find yourself facing financial difficulty. Customers can also email the bank or pop into a one of the bank’s branches throughout the Albury-Wodonga region.

✓     Customer service centre (phone)

✓     Mobile app

✓     Online banking

✓     Email

✓     Branch

✓     Mobile banking staff

How to Apply

While there is no online application system, borrowers wanting to apply for a Hume Bank home loan can either complete an online enquiry form, pop into a branch or call a Hume Bank lending consultant for more information. Before applying for a Hume Bank home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for a Hume Bank home loan, you will need to supply the following information:

  • If you’re a salaried employee – last two payslips and a letter of employment.
  • If you’re self-employed – last two years Company tax return and two years’ personal tax returns.
  • You will need to show proof of savings and last three bank statements.
  • Proof of identity.

Why are you doing this?

RateCity wants to prove that it pays to check your home loan rate, and provide some extra motivation for doing so. We want to encourage people to take an active interest in their home loans, and gain a thorough understanding of what they’re paying and how much they could save.

How much debt is too much?

A home loan is considered to be too large when the monthly repayments exceed 30 per cent of your pre-tax income. Anything over this threshold is officially known as ‘mortgage stress’ – and for good reason – it can seriously affect your lifestyle and your actual stress levels.

The best way to avoid mortgage stress is by factoring in a sizeable buffer of at least 2 – 3 per cent. If this then tips you over into the mortgage stress category, then it’s likely you’re taking on too much debt.

If you’re wondering if this kind of buffer is really necessary, consider this: historically, the average interest rate is around 7 per cent, so the chances of your 30 year loan spending half of its time above this rate is entirely plausible – and that’s before you’ve even factored in any of life’s emergencies such as the loss of one income or the arrival of a new family member.

When should I switch home loans?

The answer to this question is dependent on your personal circumstances – there is no best time for refinancing that will apply to everyone.

If you want a lower interest rate but are happy with the other aspects of your loan it may be worth calling your lender to see if you can negotiate a better deal. If you have some equity up your sleeve – at least 20 per cent – and have done your homework to see what other lenders are offering new customers, pick up the phone to your bank and negotiate. If they aren’t prepared to offer you lower rate or fees, then you’ve already done the research, so consider switching.

What is equity and home equity?

The percentage of a property effectively ‘owned’ by the borrower, equity is calculated by subtracting the amount currently owing on a mortgage from the property’s current value. As you pay back your mortgage’s principal, your home equity increases. Equity can be affected by changes in market value or improvements to your property.

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.

What is the difference between a fixed rate and variable rate?

A variable rate can fluctuate over the life of a loan as determined by your lender. While the rate is broadly reflective of market conditions, including the Reserve Bank’s cash rate, it is by no means the sole determining factor in your bank’s decision-making process.

A fixed rate is one which is set for a period of time, regardless of market fluctuations. Fixed rates can be as short as one year or as long as 15 years however after this time it will revert to a variable rate, unless you negotiate with your bank to enter into another fixed term agreement

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 however fixed rates do offer customers a level of security by knowing exactly how much they need to set aside each month.

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.

Does the Rate Guarantee 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 Rate Guarantee.

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.

How long should I have my mortgage for?

The standard length of a mortgage is between 25-30 years however they can be as long as 40 years and as few as one. There is a benefit to having a shorter mortgage as the faster you pay off the amount you owe, the less you’ll pay your bank in interest.

Of course, shorter mortgages will require higher monthly payments so plug the numbers into a mortgage calculator to find out how many years you can potentially shave off your budget.

For example monthly repayments on a $500,000 over 25 years with an interest rate of 5% are $2923. On the same loan with the same interest rate over 30 years repayments would be $2684 a month. At first blush, the 30 year mortgage sounds great with significantly lower monthly repayments but remember, stretching your loan out by an extra five years will see you hand over $89,396 in interest repayments to your bank.

What is an interest-only loan? (include how do I work out interest-only loan repayments)

An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.

Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.

While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.

What are extra repayments?

Additional payments to your home loan above the minimum monthly instalments, which can help to reduce the loan’s term and remaining payable interest.

Mortgage Calculator, Property Value

An estimate of how much your desired property is worth. 

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by lenders such as BCU, Teacher’s Mutual Bank and Pepper. Even though these loans 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.