Guide to home loan refinancing
Learn about refinancing a home loan, including what's involved, types, benefits & more. Read our guide to find out more.
Big dreams, smart loans.
Interest rate
5.94
%#
p.a.
Comparison rate
5.95
%^
p.a.
#Discounted Great Rate Home Loan variable rate, owner occupied, principal and interest
Get up to $3,000 cashback+++ when you apply online.
Online cashback of $2,500 for eligible loans $250-$499k or $3,000 for loans ≥$500k. 80% LVR or less. See Online Cashback Offer T&Cs.+++
Investment Home Loans
Interest rate
6.39
%~
p.a.
Comparison rate
7.86
%^
p.a.
~2 year fixed Great Rate Investment Home Loan rate, principal and interest
Considering buying an investment property? Find out how Greater Bank can help you secure a property investment loan. Talk to our lending experts today.
Compare mortgage rates
Compare 4 products
|
Great Rate Home Loan
Perfect if you’re after great value and no ongoing fees.
|
Ultimate Home Loan
Our ultimate in loans. Offering the flexibility of fixed or variable rate, or a mixture of both.
|
Ultimate Investment Home Loan
Combining great value with a range of features designed to make investing easier.
|
Great Rate Investment Home Loan
With low-interest rates and no monthly or annual fees, we've made investing simple.
|
|---|---|---|---|
|
Interest rate
5.94
%#
p.a.
Comparison rate
5.95
%^
p.a.
#Discounted Great Rate Home Loan variable rate, owner occupied, principal and interest
|
Interest rate
6.24
%~
p.a.
Comparison rate
7.71
%^
p.a.
~2 year fixed Ultimate Home Loan rate, owner occupied, principal and interest
|
Interest rate
6.34
%~
p.a.
Comparison rate
8.03
%^
p.a.
~2 year fixed Ultimate Investment Home Loan rate, principal and interest
|
Interest rate
6.39
%~
p.a.
Comparison rate
7.86
%^
p.a.
~2 year fixed Great Rate Investment Home Loan rate, principal and interest
|
|
|
|
|
|
|
|
|
Get up to $3,000 cashback+
Apply online
Get up to $3,000 cashback+++ when you apply online.
Save time with our 15 min application.
Enjoy one of the most competitive home loan rates in the market.
No paperwork or payslips required — just a smooth, hassle-free process.
Fast, secure and 100% online application.
Online cashback of $2,500 for eligible loans $250-$499k or $3,000 for loans ≥$500k. 80% LVR or less. See Online Cashback Offer T&Cs.+++
Speak to a lender
Get up to $2,500 cashback++ when refinancing.
Talk to an expert lender who understands your goals.
Backed by our award-winning customer service.
Benefit from the knowledge and experience of an expert.
Available over the phone or in person.
$2,000 cashback for eligible loans $250-$499k or $2,500 for loans ≥$500k. 80% LVR or less. See Cashback Offer T&Cs.++
Choose the right home loan with our handy calculators
How much can I borrow for my home loan?
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Weekly and fortnightly repayment amounts shown are not a simulation of actual loan repayments. They are indicative conversions only and do not reflect actual repayment calculations or outcomes. Greater Bank loan repayments are calculated and payable on a monthly basis.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
Calculator by Widget Works.
How long does it take to pay off a home loan?
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Weekly and fortnightly repayment amounts shown are not a simulation of actual loan repayments. They are indicative conversions only and do not reflect actual repayment calculations or outcomes. Greater Bank loan repayments are calculated and payable on a monthly basis.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
Calculator by Widget Works.
Home Loan Comparison Calculator
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
Calculator by Widget Works.
Stamp Duty Calculator
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
Calculator by Widget Works.
Home Loan Key Facts Sheet
Calculator Disclaimer
This calculator should be used as an indication only. Results provided are estimates for illustrative purposes and based on the information provided and the assumption that calculations are for new borrowings only. These assumptions are subject to change. Results should not be relied on or construed as financial or other advice. Results do not represent a quote or pre-qualification for a loan or other product.
Calculations are not a loan or other product approval. Applications for credit are subject to credit approval and satisfactory security and minimum deposit requirements. Other criteria also apply. Conditions apply to all loans and other products. Full terms and conditions will be set out in our loan or other product offer, if an offer is made.
Fees and charges are payable. Interest rates are subject to change. The calculations do not take into account fees, charges or other amounts that may be charged to your loan or other account (such as establishment fees or stamp duty). Lender's Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.
As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on it. You should obtain financial and taxation advice from a suitably qualified and experienced professional adviser before making a financial decision.
Calculator by Widget Works.
Got a question about our home loans?
A home loan, or as it's often called; a mortgage is an amount of money provided by a lender (typically a bank) to an individual or couple for the purpose of buying a property.
A home loan can be used to purchase a house or apartment that is already built, buy a property before it's built ('off the plan') or purchase a vacant block of land to build on.
When you borrow money in the form of a home loan from a lender or bank in order to buy property, the total amount you borrow is called the principal. This entire amount will need to be repaid to the lender over a fixed period of time (called a term).
A home loan interest rate is the percentage rate the lender charges to loan the principal to you. Over the life of the loan, you repay the full principal amount you owe to the lender, plus the rate of interest that your home loan product specifies. Home Loan interest rates can be fixed, variable, or a combination of both.
Greater Bank offers a number of ways for customers to kick-start what will surely be one of life’s most exciting experiences – buying a home.
You can start a conversation with Greater Bank today by
- Making a Home Loan enquiry online.
- Dropping into your nearest branch.
- Calling us on 13 13 86 and speaking with a friendly member of staff.
No one loan is perfect for everyone.
At Greater Bank, we understand that every one of our valued customers have different needs and are at different stages in their lives.
The right loan for you depends on these needs.
A variable rate loan means that the interest rate on the loan may go up and down over the loan period. This allows you to make additional or early repayments to take advantage of interest rate fluctuations.
A fixed rate loan means that the interest on the loan remains constant over a fixed period, so your repayments will stay the same. You will be able to budget for your repayments and are protected from rises in interest rates.
Still have questions? Contact a friendly Greater Bank staff member on 13 13 86 or visit your nearest branch.
Terms, conditions, fees, charges and credit criteria apply.
It is the amount of money you intend to borrow, compared to the value of the property (which is not necessarily the same as the purchase price) you're looking to buy.
We use the LVR when assessing your home loan application. It also helps determine if you need to pay Lenders Mortgage Insurance (LMI).
For example:
|
Amount you intend to borrow: |
Value of purchase property: |
Therefore what the LVR is: |
|
$400,000 |
$500,000 |
80% |
Yes.
At Greater Bank, we know sometimes it's hard for you to visit us when applying for a home loan, so we will come to you. Our experienced Lenders can visit you at home or work, at a time that suits you. Whether you’re considering a new home loan or swapping your current home loan to Greater Bank, our Lenders are here to help make your life greater.
Terms, conditions, fees, charges and credit criteria apply.
There are several options for setting up your home loan repayments, depending on your financial goals and circumstances. You can also choose to repay your loan weekly, fortnightly or monthly to suit your budget.
Monthly repayment only: You can easily set up an Easypay repayment for all Greater Bank home loans via online banking. The 'monthly repayment only' option will automatically increase or decrease in line with interest rate movements. You can also opt to make your monthly repayment weekly or fortnightly. You can also choose to add an additional amount your monthly repayment if you would like to pay more each month.
Fixed amount: This option is available if you opt to nominate a fixed amount. Changes to the amount will need to be managed by you via online banking in line with interest rate movements as the repayment amount will not change automatically.
If you have automatic transfers set up from another financial institution, you’ll need to contact them to update your repayment amount or check your current transfer amount.
You can set up an automatic home loan repayments in online banking or our mobile app.
-
Log in and go to 'Transfer' > select the account you’d like to pay your loan from > then select your loan
-
In the ‘Type’ field, you can select from the drop-down menu the transfer type.
-
Monthly Repayment Only – this is the monthly repayment on your loan calculated at the time of payment
-
Monthly Repayment Plus Extra – Pay a fixed amount off your loan, in addition to the monthly repayment on your loan, calculated at the time of payment.
- Fixed Amount - As the name suggests, a fixed amount is a set amount you nominate for each payment cycle. While this is an easy way to know exactly how much you’re paying and when, the amount won’t automatically adjust, so you’ll have to update it if your minimum repayments change.
This isn’t as big a deal if interest rates are decreasing, as this lowers the minimum repayment amount for many people who choose to pay the extra off their loan, but it’s an important consideration as interest rates increase, so you can adjust your repayment amount if necessary to ensure you don’t fall behind.
-
-
If you want to set up a recurring payment, select ‘Recurring’
-
Then select the frequency – Weekly, Fortnightly, Monthly
-
Select a start date by tapping into the date field, and a calendar will appear.
-
Select when you would like this to end – either ‘Never’ or ‘On a specific date’
-
Click ‘Next’
-
The click ‘Confirm and transfer’
If you have a scheduled Fixed Home Loan or Personal Loan repayment that you’d like to change, you can edit this by going to ‘Scheduled’ located in the side menu if accessing Online Banking on a desktop, or going to ‘Manage' > 'Scheduled’ if using the app.
-
Select the scheduled payment for your loan
-
Select ‘Edit’ and make your changes
-
If you wish to delete the payment select ‘Delete’
If you have a Monthly Repayment Only or Monthly Repayment Plus Extra and wish to change this, you will need to delete these, as these payment types can’t be edited.
How to compare home loans: a guide to features and what they mean
Discover the key features of home loans: home loan term, repayments, salary crediting, loan portability, and more. Use this guide to compare wisely.
Can't quite find what you're after?
Drop into a branch
Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.
Can’t make it to a branch?
Our mobile lenders are more than happy to come to you. Find a lending expert close to you and request a callback today.
Get in touch
Speak to our contact centre
Monday to Friday 8:00am - 6:00pm AEST.
Saturday 8:00am - 1:00pm AEST.
Terms, conditions, fees, charges and credit criteria apply.
^Comparison rate is based on $150,000 over 25 years. 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.
#Discounted rates available for new home loans $150k+, with LVR of 80% or less.
~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.
‡A prepayment fee applies to fixed rate loans if you make more than 5% in extra payments. Contact us before making additional repayments to get an estimate of the prepayment fee.
Interest Only home loans attract a 0.10% p.a. margin above the applicable Principal and Interest interest rate. Your interest rate which includes any margins, will be set out in your loan contract.
+Cashback offers:
+++Online Cashback of $2,500 for eligible home loans $250-$499k or $3,000 for loans ≥$500k available for applications submitted via the Greater Bank Digital Home Loan application channel (online application) with 80% LVR or below. Excludes refinances from Greater Bank or Newcastle Permanent. If eligible, cashback payment will be made within 60 days of the loan settlement date (loan must still be open at time of payment). Only one (1) cashback payment per eligible loan and for first eligible loan only. Not available in conjunction with any other cashback or promotional payment (except any interest rate discount offered). Offer may be varied or withdrawn at any time. See the full Online Cashback Offer Terms and Conditions.
++Cashback of $2,000 for eligible home loans $250-$499k or $2,500 cashback for loans ≥$500k available for refinance applications submitted via Greater Bank lenders (not online), with 80% LVR or below. Only one (1) cashback payment per eligible loan, and for first eligible loan only. Not available in conjunction with any other promotional payment. Offer may be varied or withdrawn at any time. See the full Cashback Offer Terms and Conditions.
FASTRefi® is a registered trademark of First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908.