Home loan comparison

Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.


How much equity do I have in my home?

In a nutshell, equity is how much of a property you own outright, or, the value of the property minus how much you owe on the mortgage tied to it.

If, for example, you just took out a $600,000 home loan with a $100,000 deposit, and haven't made a single repayment yet, your equity would be $100,000. If you’d paid off $100,000 over a few years in principal repayments, then your equity would be $200,000, since that is how much of the house you own.

Calculating home equity is important, since homeowners can use some of the existing equity they have as a deposit to buy a second, third or fourth house. It can also be used to renovate and consolidate debts.

That’s why if you’re borrowing against equity, you need to calculate how much you have. Our home equity calculator can help you do just that.

Home equity calculator

To use our home equity calculator, simply enter:

  • The property’s current value (you may need to get a valuation done)
  • Your outstanding loan balance
  • The interest rate on your desired loan
  • And how long you want the loan to be
This could help you to find out how much usable equity you may have and what the potential repayments on your new home loan might be.


Home loan news


The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au

Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.