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. The outstanding loan balance is multiplied by the interest rate on the loan account and divided by 365 days to calculate a daily interest charge. Interest is calculated daily, and charged monthly to your loan account.

Please note:

• Interest-only loan repayments will not pay off any principal during the interest only term
• The repayments required to pay out the loan will increase after the interest only period ends to cover both principal and interest. This is because you have less time until loan maturity to pay off your full principal amount
• You may pay more over the life of the loan than if there was no interest only term.

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%.

The difference between a fixed-rate home loan and a variable rate home loan is in the interest rate structure. With a fixed-rate home loan, the interest rate remains constant for a set period, typically one to five years.

At the end of the five years, the loan will usually switch to a variable rate. In contrast, a variable rate home loan has an interest rate that can change, usually in response to market conditions. This means that your repayments can fluctuate over time, potentially increasing or decreasing based on changes in interest rates.

Macquarie offers flexible options, with the ability to split your loan between variable and fixed interest rates to suit your circumstances.

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 are 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 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.