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Everything you want to know

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Buying a home or looking to make the
switch? Let’s undo the jargon and make
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Learn with Unloan

In case you missed anything

Borrowing power (or borrowing capacity) is the amount you can borrow from a lender or bank. It is typically equivalent to your potential loan amount.

Learn more about what borrowing power is here. You can also try our borrowing calculator.

Borrowing calculators estimate how much you are able to borrow while taking into consideration a number of factors:

  • Are you borrowing by yourself or with someone else?
  • What is your income?
  • What debts, liabilities and expenses do you have?
  • What are your loan terms? For eg: 30 years.

We calculate your monthly home loan repayment by considering the following factors:

  • The total loan amount, including the Lender’s Mortgage Insurance (LMI) premium if applicable*
  • The estimated total interest charged over the loan term (until the loan settlement date),
  • The annual rate discount that increases every year (up to 30 years)

We divide that total amount by up the length of your loan term to determine your monthly repayment.

Please note that these calculations for home loans are based on our current advertised rate, and assume this rate continues for the life of the loan. Interest rates may change at any time.

*If your Loan-to-Value Ratio (LVR) for a new home loan application is between 80.01% and 90%, you’ll require Lender’s Mortgage Insurance (LMI). For refinance and Top-Up applications we only accept applications with an LVR of 80% or less.

You’ll be able to see:

  • An estimate of your minimum monthly principal and interest repayments by refinancing to Unloan
  • What changes occur if you make additional repayments
  • An estimate of how much interest you could save by refinancing to Unloan
  • How our annual discount works over the life of your loan

Choose what type of loan you’re looking at calculating the repayment amount and repayment frequency for, whether for a live-in (owner-occupied) loan or an investment loan. Enter the loan amount, loan term, and if you’re making any additional repayments. These factors will affect the minimum repayment amount.

The visual graph will provide an estimate of what you could save on your loan balance every year when refinancing to Unloan.

Please note that these calculations are an estimate provided as a guide only. They are calculated based on our current advertised rate and assume this rate continues for the life of the loan. Interest rates may change at any time.

Choose what type of loan you’re looking at calculating the repayments for, whether for live-in (owner-occupied) loans or investment loans. Enter the loan amount, loan term, and the other rate you compare our rate to.

The visual graph provides a comparison between the Unloan rate including the annual discount that increases every year (up to 30 years) and the other loan's interest rate. Underneath the graph, it will showcase an estimate of what you could save over the life of your loan when refinancing to Unloan.

Please note that these calculations are an estimate provided as a guide only. They are calculated based on our current advertised rate and assume this rate continues for the life of the loan. Interest rates may change at any time.

The calculations on our refinance home loan calculator and mortgage interest calculator are an estimate provided as a guide only. They are calculated based on our current advertised interest rate and assume this rate continues for the life of the loan until the loan settlement date is reached. Interest rates may change at any time.

Calculations are not home loan approvals. Applications are subject to credit approval, satisfactory security, and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

As the refinance home loan calculator has been provided without considering your objectives, financial situation or needs, you should consider the appropriateness of any outcomes to your circumstances, and seek independent advice as required. Take note that our calculations do not consider product features or grants.

Everyone's borrowing power is different. You can use an online borrowing calculator (like ours!) to get an indication of how much you might be able to borrow.

Stamp duty or transfer duty is a general tax imposed by the state government on the purchase or transfer of almost any real estate. This includes buying a home, land, or investment property. Since it’s determined by individual state and territory governments, the amount charged, and exemptions may vary. Learn more about stamp duty.

In addition to your deposit, there are other upfront costs associated with purchasing a home. These include stamp duty, legal and conveyancing fees, inspection costs, fees and potentially Lenders Mortgage Insurance (LMI). Learn more about the costs of buying a home.

These are mandatory fees that are involved when taking a new home loan. This includes a mortgage registration fee, a transfer fee, and transfer duty (also known as stamp duty). These fees are charged by the government to cover the cost of registering your mortgage and transferring the property title. Learn more about government fees.

Related articles

What is refinancing and how can it help you reach your financial goals?
When to consider refinancing my home loan
Unloan’s expert guide to refinancing your home loan

General

Calculations are estimates provided as a guide only. They are calculated based on our current advertised variable rate, and assume this rate continues for the life of the loan. Interest rates may change at any time.

Should you take out a home loan with Unloan, discounts applied during the life of the loan will be applied to the relevant reference rate at that time.

Fees and charges are payable. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as Lenders Mortgage Insurance (LMI), stamp duty or government fees). For Loans requiring LMI an LMI premium, and in some instances a higher interest rate, will apply. The LMI premium will be added to the loan amount and increase the repayments under the loan. Find out more about LMI here

Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

*Comparison rate is calculated on a $150,000 secured loan over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

**This figure represents the rate/repayment applicable in the final year of the loan, should the loan remain in place for the full term selected and assumes the reference rate will not change for the life of your loan, which is unlikely to be the case. Rates shown are inclusive of a 0.01% p.a. discount off our reference rate. On each anniversary of your loan’s settlement date, you will receive an additional discount of 0.01% per 1annum, up to a maximum discount of 0.30% per annum

Borrowing Power calculator

The Borrowing Power calculations are intended as a guide only and are estimates based on the information you input. An LMI premium and higher interest rate apply to loans with an LVR of greater than or equal to 80.01%. Where an LMI premium amount is shown this is indicative only. An LMI premium may also apply to some loans with an LVR less than 80.01% depending on depending on the size of your deposit, security, applicant, and loan attributes.

‍Stamp Duty Calculator

The Upfront Costs are intended as a guide only and are an estimate based on the information you input. The calculations do not constitute an offer of credit or quote. Stamp duty exemptions/concessions may have been applied based on information provided. You should check with your solicitor, conveyancer or revenue office to confirm you are eligible. Upfront costs may be payable before, on or after settlement and some costs may be able to be financed. To find out more about your upfront costs you should speak to us. Other fees and charges may also apply.

LMI may also apply depending on depending on the size of your deposit, security, applicant, and loan attributes. Where LMI applies an LMI premium, and in some instances a higher interest rate, will apply. Where an LMI premium amount is shown this is indicative only. LMI premiums will impact the amount you can borrow and increase repayments under the loan.

Calculations are estimates provided as a guide only. They are calculated based on our current advertised variable rate, and assume this rate continues for the life of the loan. Interest rates may change at any time.

Should you take out a home loan with Unloan, discounts applied during the life of the loan will be applied to the relevant reference rate at that time.

Fees and charges are payable. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as Lenders Mortgage Insurance (LMI), stamp duty or government fees). For loans with a Loan-to-Value ratio (LVR) between 80.01% and 90%, an LMI premium and higher interest rate may apply. In some cases depending on the property’s location or type, LMI may also be required for LVR between 70.01% and 80%. Any of these additional amounts may impact how much you can borrow and will increase repayments under the loan.

Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

*Comparison rate is calculated on a $150,000 secured loan over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

**This figure represents the rate/repayment applicable in the final year of the loan, should the loan remain in place for the full term selected and assumes the reference rate will not change for the life of your loan, which is unlikely to be the case. Rates shown are inclusive of a 0.01% p.a. discount off our reference rate. On each anniversary of your loan’s settlement date, you will receive an additional discount of 0.01% per annum, up to a maximum discount of 0.30% per annum.

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