Included Home Loan Calculators
Get an idea of the amount you might be able to borrow, what your repayments could be & the costs. See all home loan calculators & tools.
Your own home loan specialist
"My husband & I were looking to buy an investment property & we were so fortunate to have Nelvin help us through every step of the way. He went above and beyond & was always there & willing to answer my endless list of questions and concerns."
- Chris & Jess Falla
By switching to Suncorp Bank, you could save thousands.^
- Refinance your eligible owner occupied home loan with Suncorp Bank, and you'll receive $1,500 cash*
- Access our competitive home loan rates
Apply by 31 December 2018, settle by 28 February 2019. $250,000 minimum refinance. Available only for owner occupied home loans in the “Home Package Plus” or “Back to Basics with Better Together Special”. Further T&C’s and eligibility criteria apply.
Help & Support
Frequently asked questions
How much deposit do I need for a home loan?
For owner-occupiers a deposit of at least 5% of the total loan amount is often sufficient1. For example, a $500,000 loan requires at least a $25,000 deposit. A deposit of over 20% of the total loan amount lets you avoid Lenders Mortgage Insurance (LMI), which protects lenders against unpaid mortgages.
A larger deposit lets you borrow less and enjoy lower repayments.
The minimum amount that you can borrow for a Suncorp Bank home loan is $10,000. The maximum amount depends on several factors, including your borrowing capacity (determined by your income, debts, etc.) and the value of the residential property you’re considering, which will be used as security on the loan.
Our Borrowing Limit Home Loan Calculator can give you an estimate of how much you may be able to borrow based on your application type, income, expenses.
If you’d like to speak to a home loan specialist and get a clearer idea of how much you can borrow, you can call 13 11 55. Alternatively, you can make an appointment with a Mobile Lender, who will visit you at a time and place that’s convenient for you.
You'll be asked to provide information such as:
- your income, and your partner's income if you are looking to buy a house
- how long you (and, if applicable, your partner) have been in your current job/s;
- your savings and the value of any other assets; and
- your debts, including personal loans and credit cards.
Our home loan calculators can give you an idea of how much your monthly repayments might be and how long you could take to repay the debt.
Once you submit your full application, we’ll assess your financial position, then reply to you with an outcome within a few business days.
A 100% mortgage offset facility—which lets you use your income and savings to reduce the interest payable on your home loan—is available as an option with Suncorp Bank’s Standard Variable home loan, when it’s linked to your Everyday Options account and that account is set to offset mode+.
A mortgage offset fee applies if you link an eligible Standard Variable home loan to your Everyday Options account. This fee is waived for Home Package Plus customers, who – for an annual fee – also enjoy a discounted interest rate, $0 loan establishment fee and $0 monthly account-keeping fee. For a complete guide to the fees and charges on our home loans, read our Lending Fees and Charges brochure.
Please note that mortgage offset is not available on Back to Basics Variable, or Fixed Rate loans or Access Equity (Line of Credit) facilities.
+The Everyday Options Account is issued by Suncorp-Metway Ltd ABN 66 010 831 722. Please read the relevant Product Information Document for Suncorp Bank Personal Deposit Accounts and the Terms and Conditions for Suncorp Bank accounts before making any decision regarding this product. Copies available in branch.
Home loan pre-approval is based on your ability to repay a loan. It means that a lender has reviewed your application and determined that you are in a good position to be able to pay back a loan for a specified amount. A pre-approval is not a final approval.
Pre-approval means that you can search for a home knowing how much the bank is likely to be willing to lend you. It allows you to narrow your search to homes that are within your budget, and to make offers that you otherwise may be unable to. Bear in mind that, if you make an offer on a property when you’ve received pre-approval, it’s a good idea to stipulate that the offer is subject to receiving final approval.
To apply for pre-approval, save time and start online or book an appointment with a Mobile Lender. You should note the conditions that apply to any pre-approval, which can include things like obtaining insurance on your potential new home, or arranging a property valuation.
You can make extra payments into your home loan at any time. However, depending on your type of loan, this may incur extra costs. Additional repayments can be made to your Standard Variable or Back to Basics Home Loan at any time without penalty, whereas additional payments made to a Fixed Rate Home Loan may incur an Early Payment Interest Adjustment (EPIA).
If you have a Fixed Rate Home Loan and you make an additional repayment of up to $500 more than your monthly repayment, there will be no penalty. Extra payments of over $500 will incur an Early Payment Interest Adjustment (EPIA).
The EPIA can be costly, but since it varies based on market conditions, we’re unable to provide a specific figure at the time that you fix your loan. For more information, view the EPIA brochure, visit your local branch, or contact us.
Ready to take the next step?
Insights and stories
We understand buying a home can feel overwhelming. That's why we've created a helpful guide to give you tips and ideas through each stage of the process, from when you first make the decision to buy a home to when you get the keys.
Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. A repayment type of interest only is available on loans with an LVR limit <90%. At the expiry of the interest only period, the rate will convert to the applicable Principal &Interest Rate plus or minus any applicable margins specified in your credit contract.
All interest rates and discounts are subject to change without notice. Discount margins may be withdrawn at any time before a contract is entered into.
# Each comparison rate is based on $150,000 over 25 years. WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
* The Refinance Offer is applicable when you apply and settle an Eligible Home Loan with Suncorp Bank. An Eligible Home Loan is a loan that is: (1) applied for between 8 October - 31 December 2018 and settled by 28 February 2019; (2) refinanced from another financial institution; (3) $250,000 minimum loan refinance with a Loan to Value Ratio of 80% or less; (4) a Standard Variable or Fixed Rate loan in the Home Package Plus (Line of Credit / Access Equity are excluded), or Back to Basics Better Together Special; (5) not established in the name of a company, business or trust. Refinancing of an existing Suncorp Bank home loan or pre-approvals are ineligible for the Refinance Offer. A limit of one (1) payment of $1,500 will be made to a borrower and if there is more than 1 borrower one (1) payment will be made to them jointly. Each borrower, whether individually or jointly, can only ever receive a payment of $1,500 once. If any of the borrowers have received a payment whether individually or jointly under the Refinance Offer previously then no further payments will be made. The $1,500 cash payment will be credited to the linked Everyday Options account which forms part of the Home Package Plus; or to the transaction account linked to the Back to Basics Better Together Special only, within 30 days of the settlement date. Suncorp Bank reserves the right to terminate the offer at any time. Applications subject to credit approval. Fees, and charges may be applicable. Full terms and conditions will be included in our loan offer.
^Depending on your financial circumstances, you should obtain independent advice before making any decisions regarding this Refinance Offer.
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document and the Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.
Lenders Mortgage Insurance (LMI)
If you are borrowing more than 80% of the value of the property, you will be required to pay Lenders Mortgage Insurance. This is a one-off payment and can be financed into the loan.
Lenders Mortgage Insurance protects Suncorp Bank against loss in the event of a forced sale of a mortgage property. It does not insure you but may make it possible for you to buy a home with a smaller deposit. You will still be responsible for all amounts owing in relation to your loan.