Home Saver Calculator
We assume: By using this calculator you are saving for a deposit to buy your first home.
Our calculations will include the First Home Owner Grant (FHOG) and first home buyer’s duty concessions where, based on the information you provide, you are eligible for the FHOG and concessions.
Check here to see if you are eligible for First Home Owner Grant (FHOG).
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Applying is simple, get started online
1. Apply for your home loan now
Apply in around 10-20 mins, or save and come back later. Tell us about you and see how much you could borrow. And don't worry, we'll let you know before the credit check. Need help? You can live chat with us to help you complete the application.
2. Fast approval
You could get unconditional refinance approval the same day you apply. Or conditional approval within 1 business day to help you confidently bid or make an offer for up to 90 days.
3. Discuss your rate and features with a lender
A dedicated lender will be in touch to go over the finer points of your loan. You’ll have an opportunity to negotiate your rate, as there’s no obligation until you accept your rate and loan offer.
4. On to settlement
Your lender will finalise your loan through to settlement. Accept our loan offer, and that’s it.
Already started an application? Retrieve your application
Other guides to help
What’s an offset account?
An offset account is an everyday bank account that’s linked to your home loan. Find out how you could use it to save on your home loan interest and own your home sooner.
What is a redraw facility?
This home loan feature enables you to make extra repayments into your mortgage to help you save on interest and pay it off sooner. Find out how.
Repayment calculator
Estimate your home loan repayments by adjusting your loan amount, loan term, repayment frequency and interest rate.
Things you should know
Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent, professional tax advice on any taxation matters before making a decision based on this information.
The purpose of this calculator is to provide you with general information about the amount you may be able to borrow for your first home purchase and how long it may take you to save for a deposit, based on the information you provide. The results generated by this calculator are subject to the disclosures below and further information accompanying the calculations.
The calculations do not constitute an offer to acquire any financial product and neither do they constitute any offer or quote for credit from Westpac. Your borrowing power amount may be different when you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a home loan.
References to any financial or credit product contained in the assumptions are not recommendations to acquire that financial or credit product. You should always refer to the relevant offer document(s) and/or terms and conditions (“T&Cs”) applying to a financial or credit product and ensure you read and understand those documents and/or T&Cs or obtain independent financial advice from a licensed financial services provider prior to making any decision regarding whether you should acquire that product.
Any calculation made by you using this calculator is intended as a guide. Results shown are for illustrative purposes only and are limited to the accuracy of the information provided, the assumptions set out in this section, and information about FHOG and government duties and concessions that are applicable as at 30 August 2018. Unless otherwise indicated, calculations do not take government charges or other fees into account. Any fees, stamp duty, duties, costs, concessions and FHOG referred to in the assumptions are estimations only. Actual fees, duties and costs may be higher than those estimated and any first home buyer concessions or FHOG that have been included in the calculations may be lower, which will impact the results.
* Assumption used for illustrative purposes only. The savings calculations provided are based on a total variable interest rate of 5.00% p.a. offered under the Westpac Life savings account ("Account") for the full time period indicated in the calculation, and includes a 1.85% p.a. standard variable base rate plus 3.15% p.a. monthly variable bonus rate. The bonus rate is only payable if: (a) each month a deposit is made into the Account; and (b) the Account balance is higher at the end than the beginning of the month; and (c) the Account balance remains above $0. Calculations may not include all fees and charges and interest rates may be subject to change. Please refer to the full T&Cs applying to the Account.
Queensland
Based on or contains data provided by the State of Queensland (Department of Resources) 2022.
In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws; more information at www.propertydatacodeofconduct.com.au.
South Australia
© 2022 Copyright in this information belongs to the South Australian Government and the South Australian Government does not accept any responsibility for the accuracy or completeness of the information or its suitability for purpose.
New South Wales
Contains property sales information provided under licence from the Land and Property Information (“LPI”). RP Data Pty Ltd trading as CoreLogic Asia Pacific is authorised as a Property Sales Information provider by the LPI.
Victoria
The State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Sales Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.
Western Australia
Information contained within this product includes or is derived from the location information data licensed from Western Australian Land Information Authority (WALIA) (2022) trading as Landgate. Copyright in the location information data remains with WALIA. WALIA does not warrant the accuracy or completeness of the location information data or its suitability for any particular purpose.
Australian Capital Territory
This product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania. The Crown in Right of Tasmania and its employees and agents: (a) give no warranty regarding the data's accuracy, completeness, currency or suitability for any particular purpose; and (b) do not accept liability howsoever arising, including but not limited to negligence for any loss resulting from the use of or reliance upon the data. Base data from the LIST © State of Tasmania http://www.thelist.tas.gov.au
1Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 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.
+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.
The above rates exclude any LVR discounts available for new loans.
^Flexi First Option special offer rates with Principal & Interest repayments
Special offers are only available on new Flexi First Option Home and Investment Loans with Principal & Interest repayments. Discounts do not apply to internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Offer may be varied or withdrawn at any time. Interest rates are subject to change:
- For a property to live in (Owner occupier): Offer commences 24/11/2023. Includes a 1.64% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.24% p.a. discount for the life of the loan.
- For an investment property: Offer commences 24/11/2023. Includes a 1.89% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.49% p.a. discount for the life of the loan.