Savings .com.au

What is home equity?

Equity is the total value of your home that you actually own. On a home loan, it is the difference between the total value of the property and how much you owe your lender. As an example, if your home is worth $700,000 and you have $300,000 owing on your home loan, you could have $400,000 in equity.

Generally, equity builds over time. Your home is an asset and in a rising property market, can be worth considerably more than you paid for it. Any increase in the property’s value adds to the equity in your home without you having to do anything. You can also increase the equity in your home by making extra or more regular repayments on your home loan, or making use of an offset facility.

Knowing the equity you have in your home is useful. Psychologically, it can help you feel like you are making headway in building wealth. On a practical level, borrowers can use the equity in their home to finance another property, a renovation, or other major purchase. A lender will generally seek a property valuation to get a more accurate figure of the equity in your home.

How to use Savings.com.au’s Home Equity Calculator

Use our calculator to discover the equity you have in your home. Simply put in the balance owing on your current home loan and the value of your property. It will be more accurate if you have had a recent valuation. If not, enter the estimated value based on recent sales of similar properties in the area.

If you are looking to refinance your loan to access the equity in your home, select ‘Yes’ and enter the new interest rate and loan term you are considering. The calculator will do the rest.


Looking for a home loan?

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.

Lender

Variable
More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure

loans.com.au – Variable Home Loan P&I <90%

  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
Variable
More details
100% owned by Commbank
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
100% owned by Commbank

Unloan – Variable Rate Home Loan LVR < 80%

  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
Variable
More details
100% offset
  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
100% offset

Ubank (part of NAB) – Flex variable home loan - 100% offset

  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
VariableN/A
More details
No application, ongoing or monthly fees
Disclosure
No application, ongoing or monthly fees

First Option Bank – Simple Home Loan 60 (OO, P&I)

    Disclosure
    Variable
    More details
    Disclosure

    Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 60%)

    • Check your eligibility in as little as one minute
    Disclosure
    Variable
    More details
    Disclosure

    Tiimely Home – Live-in Variable Loan Home Loan (Principal and Interest) (LVR < 90%)

      Disclosure
      Variable
      More details
      Disclosure

      Ubank (part of NAB) – Neat home loan - max. 80% LVR (Owner occupied, Principal and interest)

        Disclosure
        Variable
        More details
        Disclosure

        Macquarie Bank – Basic Home Loan (Owner Occupier, Principal and Interest, max LVR 80%)

          Disclosure
          Variable
          More details

          AMP – Essential Home Loan (Owner Occupied, Principal and Interest, $750,000+, <= LVR 60%)

            Variable
            More details

            Great Southern Bank – Offset Variable - Owner Occupier Principal & Interest (LVR is 70%)

              Variable
              More details

              Bendigo Bank – Complete Home Loan (OO P&I 60% - 80%)

                Variable
                More details

                IMB Bank – Essentials Home Loan (Principal and Interest) (LVR 80%-90%)

                  Variable
                  More details
                  Disclosure

                  ANZ – Simplicity PLUS Home Loan (Principal and Interest) (LVR < 70%) (New Customer) Special offer

                    Disclosure
                    VariableN/A
                    More details
                    Disclosure

                    Commonwealth Bank – Extra Home Loan (Principal and Interest) (LVR 60%-70%)

                      Disclosure
                      VariableN/AN/A
                      More details
                      Disclosure

                      Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR 70-80%)

                        Disclosure
                        Variable
                        More details

                        ING – Mortgage Simplifier ($150k+ where LVR >90% - O/Occ) P&I

                          Variable
                          More details
                          Disclosure

                          NAB – Tailored Home Loan Variable Rate - Principal and Interest LVR 60% or less

                            Disclosure
                            Variable
                            More details
                            • No application, ongoing monthly or annual fees.
                            • Available for refinance or purchases. Quick and easy online application process.
                            • Dedicated loan specialist throughout the loan application.
                            • Discounted interest rate for 5 years for homes with an eligible solar system
                            Disclosure

                            loans.com.au – Solar Home Loan P&I <90%

                            • No application, ongoing monthly or annual fees.
                            • Available for refinance or purchases. Quick and easy online application process.
                            • Dedicated loan specialist throughout the loan application.
                            • Discounted interest rate for 5 years for homes with an eligible solar system
                            Disclosure
                            Variable
                            More details

                            MOVE Bank – Offset Home Loan (Principal & Interest) LVR <80%

                              Variable
                              More details

                              Athena Home Loans – Straight Up Owner Occupied - Obliterate (LVR < 50%) (Principal and Interest)

                                Important Information and Comparison Rate Warning

                                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *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. Rates correct as of March 23, 2025. View disclaimer.

                                Important Information and Comparison Rate Warning