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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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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

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 0.85% p.a. offered under the Westpac Life savings account ("Account") for the full time period indicated in the calculation, and includes a 0.15% p.a. standard variable base rate plus 0.70% 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.

Interest rates


The above rates exclude any LVR discounts available for new loans. 

Credit Criteria, fees and charges apply. Terms and conditions available on request.  Based on Westpac's credit criteria, residential lending is not available for non-Australian Resident. This information 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.

1 Premier Advantage Package Conditions of Use apply and are available at Annual package fee of $395 applies. Not available to company and trust account holders. You must either hold or be approved for a Westpac Choice account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Applications must also meet our approval guidelines on individual products to qualify for relevant package discounts. The Bank will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences, unless the customer locks a fixed rate in on the loan using our Rate Lock feature. The rate lock fee is 0.10% of the loan amount. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan rate and the prevailing Premier Advantage Package discount will apply to that rate.

Comparison Rate: The comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: The comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates.


^^Fixed rate home loan: The Bank will apply the fixed rate that is available at the loan settlement date, unless the customer locks a fixed rate in on the loan using our Rate Lock feature. The Fixed Rate - Lock-In fee is 0.10% of the loan amount. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate unless a new fixed rate term is selected and then the fixed rate is determined two business days prior to the refix. Interest rate(s) displayed is for Australian Residents only. Rate lock is not available for progress draw loans under the construction option.