Mortgage House home loan repayment calculator

Thinking about taking out a home loan with Mortgage House? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Mortgage House 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 2.89 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Mortgage House offers a wide range of home loan products.
  • Home loans have competitive interest rates.
  • Wide range of flexible loan options.
  • Some loans offer discounted interest rates.
  • Limited branch network.
  • Some loan products include annual and monthly fees.

Mortgage House home loans rates

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

2.89%

Variable

$1440

2.93%

$0
Mortgage House
More details

2.96%

Fixed - 3 years

$840

3.16%

$0
Mortgage House
More details

2.99%

Variable

$250

3.22%

$0 monthly
Mortgage House
More details

3.19%

Variable

$250

3.22%

$0 monthly
Mortgage House
More details

3.19%

Variable

$250

3.22%

$0
Mortgage House
More details

3.19%

Variable

$250

3.22%

$0 monthly
Mortgage House
More details

3.29%

Variable

$850

3.32%

$0
Mortgage House
More details

3.29%

Variable

$250

3.32%

$0 monthly
Mortgage House
More details

3.29%

Variable

$250

3.32%

$0 monthly
Mortgage House
More details

3.29%

Variable

$1045

3.33%

$0
Mortgage House
More details

3.29%

Variable

$1440

3.34%

$0
Mortgage House
More details

2.96%

Fixed - 2 years

$1045

3.46%

$10 monthly
Mortgage House
More details

3.48%

Variable

$250

3.51%

$0
Mortgage House
More details

3.44%

Variable

$645

3.62%

$0
Mortgage House
More details

3.54%

Variable

$645

3.69%

$10 monthly
Mortgage House
More details

3.59%

Variable

$645

3.81%

$0
Mortgage House
More details

3.79%

Variable

$945

3.89%

$10 monthly
Mortgage House
More details

3.79%

Variable

$250

3.89%

$10 monthly
Mortgage House
More details

3.89%

Variable

$0

3.92%

$0 monthly
Mortgage House
More details

3.77%

Fixed - 2 years

$250

4.04%

$10 monthly
Mortgage House
More details

4.09%

Variable

$645

4.12%

$10 monthly
Mortgage House
More details

3.99%

Variable

$200

4.13%

$10 monthly
Mortgage House
More details

3.67%

Variable

$250

4.14%

$0 monthly
Mortgage House
More details

3.69%

Fixed - 3 years

$250

4.14%

$10 monthly
Mortgage House
More details

3.77%

Fixed - 3 years

$250

4.14%

$10 monthly
Mortgage House
More details

3.95%

Fixed - 2 years

$250

4.14%

$10 monthly
Mortgage House
More details

4.07%

Fixed - 3 years

$250

4.14%

$10 monthly
Mortgage House
More details

3.99%

Variable

$645

4.15%

$10 monthly
Mortgage House
More details

3.84%

Variable

$945

4.19%

$10 monthly
Mortgage House
More details

3.84%

Variable

$895

4.21%

$10 monthly
Mortgage House
More details

3.55%

Fixed - 3 years

$645

4.24%

$10 monthly
Mortgage House
More details

3.95%

Fixed - 3 years

$250

4.24%

$10 monthly
Mortgage House
More details

4.07%

Fixed - 2 years

$250

4.24%

$10 monthly
Mortgage House
More details

4.24%

Variable

$250

4.27%

$0
Mortgage House
More details

4.14%

Fixed - 1 year

$945

4.29%

$10 monthly
Mortgage House
More details

3.55%

Fixed - 2 years

$645

4.31%

$10 monthly
Mortgage House
More details

4.24%

Fixed - 2 years

$945

4.32%

$10 monthly
Mortgage House
More details

4.24%

Fixed - 2 years

$250

4.34%

$10 monthly
Mortgage House
More details

4.24%

Fixed - 3 years

$945

4.40%

$10 monthly
Mortgage House
More details

3.99%

Fixed - 3 years

$945

4.43%

$10 monthly
Mortgage House
More details

3.99%

Fixed - 2 years

$945

4.43%

$10 monthly
Mortgage House
More details

4.60%

Fixed - 4 years

$645

4.61%

$10 monthly
Mortgage House
More details

3.89%

Fixed - 1 year

$645

4.62%

$10 monthly
Mortgage House
More details

4.14%

Fixed - 1 year

$945

4.66%

$10 monthly
Mortgage House
More details

4.70%

Fixed - 5 years

$645

4.66%

$10 monthly
Mortgage House
More details

3.29%

Fixed - 3 years

$645

4.68%

$0
Mortgage House
More details

3.44%

Fixed - 5 years

$645

4.68%

$0
Mortgage House
More details

3.59%

Fixed - 1 year

$645

4.68%

$0
Mortgage House
More details

3.84%

Variable

$895

4.68%

$10 monthly
Mortgage House
More details

4.75%

Fixed - 4 years

$945

4.90%

$10 monthly
Mortgage House
More details

4.80%

Fixed - 5 years

$945

4.93%

$10 monthly
Mortgage House
More details

4.99%

Variable

$500

5.15%

$10 monthly
Mortgage House
More details

4.99%

Variable

$3190

5.48%

$395 annually
Mortgage House
More details

Mortgage House customer service

Home loan customers can contact Mortgage House by calling or emailing the customer contact centre directly, filling out an online enquiry form or face-to-face through one of the Mortgage House home loan centres. Mortgage House customers can contact the customer support hotline 7 days a week.

✓     Customer service centre (phone)

✓     Online banking

✓     Email

✓     Branch

✓     Mobile banking staff

How to Apply

Mortgage House customers wanting to apply for a home loan can do so by either visiting a Mortgage House loan centre or by filling in an online enquiry form online. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Proof of identification.
  • Proof of income – whether you are self-employed or work for an employer.
  • Information regarding your current debts, liabilities and assets including credit cards, personal loans and car loans.

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
  • the value of your property
  • your current interest rate
  • name of existing lender
  • property address

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.

Home Loans Frequently Asked Questions

How do I take out a low-deposit home loan?

If you want to take out a low-deposit home loan, it might be a good idea to consult a mortgage broker who can give you professional financial advice and organise the mortgage for you.

Another way to take out a low-deposit home loan is to do your own research with a comparison website like RateCity. Once you’ve identified your preferred mortgage, you can apply through RateCity or go direct to the lender.

Which mortgage is the best for me?

The best mortgage to suit your needs will vary depending on your individual circumstances. If you want to be mortgage free as soon as possible, consider taking out a mortgage with a shorter term, such as 25 years as opposed to 30 years, and make the highest possible mortgage repayments. You might also want to consider a loan with an offset facility to help reduce costs. Investors, on the other hand, might have different objectives so the choice of loan will differ.

Whether you decide on a fixed or variable interest rate will depend on your own preference for stability in repayment amounts, and flexibility when it comes to features.

If you do not have a deposit or will not be in a financial position to make large repayments right away you may wish to consider asking a parent to be a guarantor or looking at interest only loans. Again, which one of these options suits you best is reliant on many factors and you should seek professional advice if you are unsure which mortgage will suit you best.

How do I calculate monthly mortgage repayments?

Work out your mortgage repayments using a home loan calculator that takes into account your deposit size, property value and interest rate. This is divided by the loan term you choose (for example, there are 360 months in a 30-year mortgage) to determine the monthly repayments over this time frame.

Over the course of your loan, your monthly repayment amount will be affected by changes to your interest rate, plus any circumstances where you opt to pay interest-only for a period of time, instead of principal and interest.

The fine print – what are the eligibility criteria?

This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.

You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate. 

What happens to your mortgage when you die?

There is no hard and fast answer to what will happen to your mortgage when you die as it is largely dependent on what you have set out in your mortgage agreement, your will (if you have one), other assets you may have and if you have insurance. If you have co-signed the mortgage with another person that person will become responsible for the remaining debt when you die.

If the mortgage is in your name only the house will be sold by the bank to cover the remaining debt and your nominated air will receive the remaining sum if there is a difference. If there is a turn in the market and the sale of your house won’t cover the remaining debt the case may go to court and the difference may have to be covered by the sale of other assets.  

If you have a life insurance policy your family may be able to use some of the lump sum payment from this to pay down the remaining mortgage debt. Alternatively, your lender may provide some form of mortgage protection that could assist your family in making repayments following your passing.

How do I determine the value of my property?

Here we are asking you to estimate only. It’s often hard to get an accurate estimate of your property value.

Some real estate websites such as Domain, Realestate.com.au and Onthehouse will give you an estimate. However, be aware that a bank valuer might assume a lower estimate, so it can be a good idea to make your estimate slightly lower.

If you do apply to refinance, the lender might send a valuer out to your home, so it is worth being prudent.

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 is equity? How can I use equity in my home loan?

Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.

You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.

Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.

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 mortgage stress?

Mortgage stress is when you don’t have enough income to comfortably meet your monthly mortgage repayments and maintain your lifestyle. Many experts believe that mortgage stress starts when you are spending 30 per cent or more of your pre-tax income on mortgage repayments.

Mortgage stress can lead to people defaulting on their loans which can have serious long term repercussions.

The best way to avoid mortgage stress is to include at least a 2 – 3 per cent buffer in your estimated monthly repayments. If you could still make your monthly repayments comfortably at a rate of up to 8 or 9 per cent then you should be in good position to meet your obligations. If you think that a rate rise would leave you at a risk of defaulting on your loan, consider borrowing less money.

If you do find yourself in mortgage stress, talk to your bank about ways to potentially reduce your mortgage burden. Contacting a financial counsellor can also be a good idea. You can locate a free counselling service in your state by calling the national hotline: 1800 007 007 or visiting www.financialcounsellingaustralia.org.au.

What if I can't pay off my guaranteed home loan?

If you can’t pay off your guaranteed home loan, your lender might chase your guarantor for the money.

A guaranteed home loan is a legally binding agreement in which the guarantor assumes overall responsibility for the mortgage. So if the borrower falls behind on their mortgage, the lender might insist that the guarantor cover the repayments. If the guarantor fails to do so, the lender might seize the guarantor’s security (which is often the family home) so it can recoup its money.

Who chooses the winner?

The winner will be chosen randomly from our entries on 21 May 2020 by Loyalty.com.au, in the presence of an independent scrutineer.

What is a honeymoon rate and honeymoon period?

Also known as the ‘introductory rate’ or ‘bait rate’, a honeymoon rate is a special low interest rate applied to loans for an initial period to attract more borrowers. The honeymoon period when this lower rate applies usually varies from six months to one year. The rate can be fixed, capped or variable for the first 12 months of the loan. At the end of the term, the loan reverts to the standard variable rate.