Home loan calculators and tools

To see how we calculate your potential home loan repayments, use our home loan repayments calculator. The home loan repayment calculator can help you work out how much your monthly repayments will be, based on how much you plan to borrow.

The assumptions used in our home loan repayments calculator are as follows:

• Your loan to value ratio (LVR), purpose of your loan and how you will be paying determines your interest rate.
• Your LVR is calculated by dividing the amount you'd like to borrow by the value of the property as a percentage.
• The value of your property is assumed to be the same as the amount you'd like to borrow plus deposit.
• The loan term is set at 30 years.
• Calculations are based on a variable rate, except for the initial fixed rate period if one is selected.
• Interest rates do not change for the life of the loan.
• Interest is charged monthly.
• Repayments are made monthly.
• It does not consider your ability to make the repayments shown.

The information contained in the calculator is by way of example only and should not be regarded as a prediction, or as personal advice.

Interest is calculated on your outstanding loan balance at the end of each day and charged to your account every month. The outstanding loan balance is multiplied by the interest rate on the loan account and divided by 365 days. 

Ideally, you should save as much as possible before buying a home. The more you save for a home loan deposit, the smaller your loan could be and the higher your chances of getting approved for a home loan.

Make sure your deposit savings plan considers the extra costs associated with buying and moving into your new home. This can include conveyancing, stamp duty costs and other government and upfront costs.

LVR is the amount you need to borrow, calculated as a percentage of the value of your property. For example, if your loan amount is $400K and your property value is $500K, then your LVR is 80%.

Fixed rate home loans have an interest rate that is fixed for a set period of time (typically from one to five years). At the end of the fixed rate term, the loan will usually switch to a variable rate.

Variable rate home loans have an interest rate that can move up or down according to market forces, which impacts the amount of interest you pay and may change your contracted monthly repayments.

Macquarie home loans are flexible and allow you to access both a fixed rate and variable rate for your loan. As a borrower, this means you can:

• have the entirety of your home loan at a variable rate
• have the entirety of your home loan at a fixed rate
• split your home loan into fixed and variable portions.

Splitting your loan between variable and fixed interest rates gives you flexibility to structure your loan to suit your circumstances. You can divide your home loan in a variety of ways, such as locking in a fixed interest rate portion and variable interest rate portion, to take advantage of a mix of rate types over the life of your loan.

Please note: You can’t have the entirety of your offset home loan assigned to a fixed rate. You must have at least $20k of your offset home loan assigned to a variable interest rate.

Once you’ve completed an application with your broker or home loan specialist, we can (in most cases) provide you with a pre-approval within one business day if your application qualifies. Once you’re successful with a property and provide us with all required documentation, we work quickly to provide you with unconditional approval and open your home loan account.

This timing depends on how quickly we can verify your identity, assess your application, and transfer security.

We’ll let you know by email if your application is successful and then work with your solicitor or representative to arrange the settlement. Once completed we’ll let you know when your account is open and ready to use.

If you have any questions about the status of your application, talk to your broker or your home loan specialist.