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Apply for a new home loan, conditional approval or switch from another bank. It should only take around 20 minutes to apply.

  We’ll show you what you could afford to spend on a property and estimated costs involved.

  You’ll be assigned a home finance manager who’ll answer all your questions.

 

More tools to help you

Compare our home loans

Get a tailored snapshot of our interest rates and loan features.

Frequently asked questions

Working out how much you could borrow is an important part of choosing your new home and home loan. You need to know how much you comfortably afford to repay, given your other expenses and without impacting your lifestyle too much.

Our affordability and maximum home loan calculators can help you work this out. 

Affordability Calculator

This calculator helps you work out how much you can afford to borrow. Calculate how much you’d be happy to pay by adding up all of your expenses like school fees, utility bills and debt repayments. You don’t need to add your current rent/accommodation costs if you’ll be living in your new home. Subtract your expenses from your income to find out what you could repay.
 

Tip: Consider whether your new home could cost more to live in (for example if interest rates rise or it’s a bigger house with larger heating bills than you’re used to). It’s a good idea to round up your current expenses figure so that you have a buffer for unexpected costs. 

Maximum Loan Calculator

This calculator helps you work out the most you could borrow from the bank to buy your new home. This is called your borrowing power.  Think of it as a maximum borrowing power calculator, helping you work out what a bank takes into consideration to ensure you could repay your home loan and meet your other outgoings. You’ll need to know your income before tax as well as your expenses.

Things you should know

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 borrowers.

 

This calculation is not an offer of credit but an estimate only of what you may be able to borrow based on the information provided and does not include all applicable fees (except for monthly fees). Your borrowing power amount may be different when you complete a full application and we capture all details relevant to our lending criteria. Our lending criteria and basis upon which we assess what you can afford may change at any time without notice. Before acting on this calculation you should seek professional advice.


All interest rates referred to in the calculators are current, as indicated on westpac.com.au. The interest rates represented on this page may include promotional discounts and are subject to change. When assessing ability to service a loan, Westpac may use an interest rate that is higher than the current interest rate for the loan requested.


The output of each calculator is subject to the assumptions provided under each calculator and are subject to change.  The calculator does not take into account any future refinancing options which may be available. The calculator does not take into account any product features, grants or any applicable bank fees.  For details on fees and charges, please go to westpac.com.au


#Comparison 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.

 

^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 21/06/2022. The estimated repayment calculation does not include the 2-year introductory rate which includes a 1.94% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.54% p.a. discount for the life of the loan.​
  • For an investment property:  Offer commences 21/06/2022. The estimated repayment calculation does not include the 2-year introductory rate which includes a 2.09% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.69% p.a. discount for the life of the loan. ​

^^Flexi First Option special offer rates with Interest Only repayments 

Special offers are only available on new Flexi First Option Home and Investment Loans with Interest Only 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 5/06/2020. Includes a 0.53% p.a. discount off our Flexi First Option Home Loan Variable Rate with Interest Only repayments for the life of loan. Interest rates are subject to change.
  • For an investment property: Offer commences 21/06/2022. The estimated repayment calculation does not include the 2-year introductory rate which includes a  2.05% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.65% p.a. discount for the life of loan.​

 

+LVR stands for the initial loan to value ratio at loan approval. 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. For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.


Weekly and fortnightly repayment calculations
– if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 ($1000 ÷ 2 = $500) and weekly repayments are calculated by dividing $1000 by 4 ($1000 ÷ 4 = $250)


The output or result of these calculators:

  • is subject to the assumptions which are subject to change;
  • is prepared without knowing your personal financial circumstances. Before you act on the output of the calculators, please consider if it’s right for you. If you need more information, please call 1300 786 029.  We recommend that you consult your financial adviser before taking out a loan;
  • does not represent either a quote or pre-qualification for a loan;
  • may not be taken into account if you apply for a loan with us as we will make our own calculations. When assessing ability to service a loan, Westpac may use an interest rate that is higher than the current interest rate for the loan requested.

The interest rates used in the calculator:

  • are current, as indicated on our home loan interest rate pages;
  • are Westpac's standard interest rates and include any package or promotional discounts; and
  • are subject to change.