Qudos Bank Home Loan Calculators

By entering your current financial information, home loan calculators can provide you with helpful information such as an estimate of your borrowing power and home loan repayments. Enter your details into a home loan calculator to gain a clearer insight into the amount of money you could afford to borrow and repay through the life of your loan.



How do I apply for a home loan?

You’ll first need to contact Qudos Bank directly to discuss our home loan offers. One of our lending specialists will update you on your various home loan options and help you determine which one is best suited to your current financial situation and objectives.

Once you’ve made a final decision, you'll need to complete your application. You can either do this online, on paper or over the phone. In addition to the application, you’ll also need to submit various documents that verify your current financial situation. Our team will then review your application and, if everything is in order, we’ll transfer your application onto a Credit Assessor who will conduct a full assessment and, if you are successful, provide a formal approval.


How long will it take for my home loan application to be approved?

The precise time will depend on a variety of factors, such as whether you've provided all of the necessary documents with your application.

While formal approvals can take a longer amount of time to finalise as they are dependent on a borrower meeting the loan conditions and also sourcing a property, you'll typically receive a pre-approval within 5 business days from submitting your application. Obtaining pre-approval means that you've met the initial criteria to acquire a home loan, subject to any remaining conditions. With a pre-approval in hand, you're in a strong position to start the process of purchasing your property.

Learn more about the home loan process here.


What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance is a type of insurance that a lender takes out to protect themselves against the risk of the borrower not meeting their loan payments. LMI can be an important aspect of buying a home. Generally speaking, it enables borrowers who otherwise meet lending criteria, to obtain their mortgage finance even if they do not have a 20% deposit.

If you need to pay LMI, you may be able to pay the amount upfront or add it into your home loan.

Read more about LMI and when it is required here.


What is the difference between principal and interest, and interest only?

When applying for a home loan, and depending on whether you’re an owner-occupier or investor, you may have the option to select from one of the two most common repayment types: principal and interest or interest only​. Generally speaking, for Qudos Bank owner-occupier loans the standard repayment type is principal and interest.

A principal and interest loan means that you’ll start paying both the principal (i.e. the amount borrowed) in addition to the interest that it accrues.

On the other hand, if you choose an interest only repayment, you'll only pay the interest portion of your loan (for a specific amount of time). Once this interest only period expires, your repayments will change to include both interest and principal.

There are benefits and disadvantages to both of these repayment types that should be considered. Interest only repayments will initially have lower repayments as you’re not repaying any of the principal. This can help individuals save money, making it a particularly appealing option for short-term loans. However, by delaying the repayment of your principal, you'll ultimately pay more money over the life of the loan.


View all our home loan interest rates



Helpful Tips and Guides

How can we help?


Normal lending criteria, terms and conditions and fees and charges apply. Mortgage insurance is required for home loans over 80% and is subject to approval.

Interest only subject to approval. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

You should read and consider the relevant terms and conditions (available on request) and our Financial Services Guide before deciding whether to obtain any of our financial products or services.

The results from Qudos Bank calculators should be used as an estimate only. Results do not represent either quotes or pre-qualifications for a loan. Qudos Bank may not provide loans with the details indicated in the calculator. The specific details of your loan will be provided to you in your loan contract.