Home loan calculators explained
Our home loan calculators are designed to give you an estimate of how much you could borrow and calculate the costs associated with buying a home or an investment property. We also have some calculators to help you compare home loans and find the best one for you.
It’s likely you noticed we have a few different calculators depending on the information you are looking for. We’re all different, so feel free to use as many calculators as you like.
Home loan calculator estimates are general in nature; however, it will still give you a good idea of what you can afford when applying for a home loan and looking for a property.
For a more accurate calculation of your borrowing power based on your personal situation, we recommend applying for pre-approval.
Your borrowing power is an estimate of how much you could borrow for a home or an investment property. It considers your income, expenses, and how much you could repay on a home loan to calculate your borrowing power.
Knowing your borrowing power is super helpful as you can narrow your search to properties that fit your lifestyle and budget.
Please keep in mind that our calculators can only give you an estimate of your borrowing power. For a more accurate and personalised amount, consider applying for pre-approval.
Pre-approval is when a lender agrees in principle to provide you with a home loan. It tells you the maximum amount you can borrow so you can easily look for properties within your budget. Applying for pre-approval is free and you’re under no obligation to take out the loan.
In a competitive property market having pre-approval can help you save time when making an offer. Many sellers and real estate agents also look favourably on buyers with pre-approval as it shows you are serious about the property.
While you’ll still need to confirm your employment and a few other details to progress to full approval, the difficult paperwork is already done. Pre-approval normally lasts for up to 90 days and you can apply to renew your pre-approval if you haven’t found a property in time.
Find out more about the benefits of pre-approval.
If you can’t decide between a fixed rate or a variable rate home loan, a split loan can give you the best of both worlds.
When you split your home loan, you have a fixed rate portion and a variable rate portion ‘split’ across the one home loan.
Splitting your home loan can give you greater control and a more personalised home loan. You’ll get repayment certainty with the fixed rate portion, while the variable portion allows you to take advantage of any interest rate drops or make extra repayments to pay your loan off early.
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Need guidance? Try our home buying guides
HOME LOANS
- Competitive rates.
- Fee-free extra repayments.
- Smart tools and clever features to help you own your home sooner.
Rates current as at 22 May 2026 and subject to change.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions, and fees apply. Applications are subject to credit approval.
1 Discounts off the Offset Variable Reference Rate are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of the home loan you already have with us when it includes new borrowing of at least $10,000; and the application is received on or after 22 May 2026. Published interest rates are inclusive of any discounts off the respective Reference Rates. Interest rates and discounts vary based on the loan purpose (owner occupier or investor), repayment type (principal and interest, interest only, construction) and Loan to Value Ratio (LVR). Maximum LVR applies and includes Lenders' Mortgage Insurance and Great Southern Bank loan setup fees where applicable.
2 Great Southern Bank may withdraw or amend this offer at any time without notice. A change in your loan purpose, your repayment type or your loan product will permanently end your entitlement to the discount.
3 LVR means ‘Loan to Value Ratio’. It is the amount of your loan divided by the valuation of your property, calculated as a percentage. For example, if you apply for a loan of $400,000, which will be secured by a property valued at $500,000, your LVR is 80%. We calculate your LVR at the time we approve your loan and your discount won’t change because of changes to the LVR during the life of your loan.
^ Comparison rate accurate for $150,000 secured loan over 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.