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.
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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.
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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 5.00% p.a. offered under the Westpac Life savings account ("Account") for the full time period indicated in the calculation, and includes a 2.00% p.a. standard variable base rate plus 3.00% 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.
Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.
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. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.
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.