Home equity calculator

How we calculate Home Loan Finder Scores

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What different scores mean

9+

Excellent

These home loans offer low costs, coupled with a host of features, giving the best overall value.

7+

Great

These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.

5+

Standard

Usually the home loans would offer above average rates. They may still include some competitive features.

0+

Basic

Higher costs and/or fewer features.

To use Finder's simple equity calculator just enter an estimate of your property's current market value and how much is left on your home loan.

How to calculate your equity

Calculating the equity in your home is easy. You just need to work out the difference between your property value and how much is left on your mortgage.

Now, you won't know the exact value of your home until you actually sell it. But you can estimate the value of your home by looking at a property listing site and checking recent sales in your suburb.

Make sure you look at similar properties to yours to get a clearer estimate. A real estate agent can often give you a free appraisal too.

How to find your loan balance

You can check your current loan balance on your most recent home loan statement or by logging onto your lender's app or online banking platform.

Example: Calculating your current home equity

• You bought a $900,000 home 4 years ago with a 20% deposit.
• Your loan amount was $720,000.
• Your home is now worth $950,000 and you've repaid $20,000 of your loan principal.
• This means your remaining loan balance is $700,000.
• Your current equity is $250,000, or $950,000 minus $700,000.
• Your usable equity (80%) is $200,000.

How to access your equity

Here are 3 simple ways via which you can access your home equity:

• Redraw. The simplest way to build your home equity is to make payments above your minimum monthly repayments. You can then access a portion of this equity by redrawing the extra funds. Redraw restrictions may apply depending on your lender.
• Refinancing. If you refinance your home loan to a new one you can apply for a credit increase with your bank. When the new loan is approved, the extra money is added to your loan balance.
• Home equity loan/line of credit loan. A line of credit is a loan which extends you a set credit limit based on your equity. These loans allow you to withdraw small amounts or the whole balance whenever you like. You only pay interest on the money you withdraw.

What can I use my home equity for?

• Finance home renovations. You can use your home equity to fund some renovations to improve your place. You may also use the equity to apply for an additional loan and use the funds to purchase a new car or other investments.
• Fund a purchase or holiday. You can use your equity for any purpose, such as buying a car or taking a holiday.
• Building wealth. Unlocking the equity in your home can help you improve your lifestyle by enabling you to invest in property. Equity in your home can be used as security to buy a second property, enabling you to accumulate wealth.

Using your equity means paying interest and growing your debt

When calculating how much home equity you can access there are a few factors you should take into consideration:

• Increase in monthly interest. Accessing your home equity to get an additional loan or credit increase will increase the amount you owe. This will most likely end up increasing the amount you pay in monthly interest.
• Increase in monthly payments. Using your equity can increase your outstanding mortgage amount without increasing your loan repayment term. This will mean that your minimum monthly repayments can rise, so proper budgeting is required so as to avoid financial difficulties.
• Increase in your loan to value ratio (LVR). If your property value hasn’t increased significantly when you get a redraw or credit increase, your LVR may increase, forcing you to take out lenders mortgage insurance (LMI) that will further increase your loan amount.

What if I don't have much equity?

If you've just started making repayments on your loan you probably don't have much equity. As you repay the loan over time you'll build this equity.

Borrowers with low deposit home loans have the least equity. When you start a home loan, the deposit is the total amount of the property you actually own. So if you had a 10% deposit then you'd only have 10% equity at the start.

You can build equity by making extra repayments or putting extra money in an offset account. Over time, if property prices grow, this will also increase your equity. This is because while your home loan should shrink over time, any increase in the value of the home is entirely your money.

Compare line of credit home loans

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Name	Finder Score	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$1M+ AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$1M+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.09% Comp. Rate p.a. 6.32% Minimum Loan Amount $750,000 Maximum Loan Amount $1,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 9.2 Excellent	Interest Rate 6.09%	Comparison Rate 6.32%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $909	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$1M+ AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$1M+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.14% Comp. Rate p.a. 6.35% Minimum Loan Amount $100,000 Maximum Loan Amount $249,999 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 9.1 Excellent	Interest Rate 6.14%	Comparison Rate 6.35%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $914	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only40% min. depositInvestmentOffset account$500k+ AMP Bank Professional Package Line of Credit Interest only40% min. depositInvestmentOffset account$500k+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.14% Comp. Rate p.a. 6.37% Minimum Loan Amount $500,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 9.1 Excellent	Interest Rate 6.14%	Comparison Rate 6.37%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $914	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$500k+ AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$500k+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.19% Comp. Rate p.a. 6.42% Minimum Loan Amount $500,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 9.1 Excellent	Interest Rate 6.19%	Comparison Rate 6.42%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $919	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only40% min. depositOwner-occupierOffset account$1M+ AMP Bank Professional Package Line of Credit Interest only40% min. depositOwner-occupierOffset account$1M+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.09% Comp. Rate p.a. 6.25% Minimum Loan Amount $100,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 8.9 Great	Interest Rate 6.09%	Comparison Rate 6.25%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $909	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only10% min. depositOwner-occupierOffset account$1M+ AMP Bank Professional Package Line of Credit Interest only10% min. depositOwner-occupierOffset account$1M+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.14% Comp. Rate p.a. 6.29% Minimum Loan Amount $100,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 8.8 Great	Interest Rate 6.14%	Comparison Rate 6.29%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $914	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only20% min. depositOwner-occupierOffset account$500k+ AMP Bank Professional Package Line of Credit Interest only20% min. depositOwner-occupierOffset account$500k+ Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.19% Comp. Rate p.a. 6.35% Minimum Loan Amount $500,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 8.7 Great	Interest Rate 6.19%	Comparison Rate 6.35%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $919	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only40% min. depositInvestmentOffset account$100K to AMP Bank Professional Package Line of Credit Interest only40% min. depositInvestmentOffset account$100K to Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.59% Comp. Rate p.a. 6.85% Minimum Loan Amount $100,000 Maximum Loan Amount $499,999 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 8.5 Great	Interest Rate 6.59%	Comparison Rate 6.85%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $958	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$100K to AMP Bank Professional Package Line of Credit Interest only20% min. depositInvestmentOffset account$100K to Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.64% Comp. Rate p.a. 6.90% Minimum Loan Amount $100,000 Maximum Loan Amount $499,999 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 8.5 Great	Interest Rate 6.64%	Comparison Rate 6.90%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $963	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only40% min. depositOwner-occupierOffset account$100K to AMP Bank Professional Package Line of Credit Interest only40% min. depositOwner-occupierOffset account$100K to Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.84% Comp. Rate p.a. 7.02% Minimum Loan Amount $100,000 Maximum Loan Amount $499,999 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 7.9 Great	Interest Rate 6.84%	Comparison Rate 7.02%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $983	Enquire now Compare product selection Compare
AMP Bank Professional Package Line of Credit Interest only20% min. depositOwner-occupierOffset account$100K to AMP Bank Professional Package Line of Credit Interest only20% min. depositOwner-occupierOffset account$100K to Details Fees Pros & cons Product Name AMP Bank Professional Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 6.89% Comp. Rate p.a. 7.07% Minimum Loan Amount $100,000 Maximum Loan Amount $499,999 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $295 Valuation Fee Any valuation costs in excess of $550 Ongoing Fees $349 p.a. Settlement Fee $0 Discharge Fee $390 Pros $0 application fee100% offset account Cons There's an annual fee of $349 A $390 discharge fee applies when closing the loan	Finder score 7.8 Great	Interest Rate 6.89%	Comparison Rate 7.07%	Fees Application: $0 Ongoing: $349 p.a.	Monthly Payment $988	Enquire now Compare product selection Compare
BCU Bank All-In-One Line of Credit Principal & Interest21% min. depositOwner-occupier BCU Bank All-In-One Line of Credit Principal & Interest21% min. depositOwner-occupier Details Fees Pros & cons Product Name BCU Bank All-In-One Line of Credit Interest Rate Type Repayment Type Principal & Interest Interest Rate p.a. 7.24% Comp. Rate p.a. Maximum Loan Term Maximum LVR 79% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros Cons	Finder score 7 Great	Interest Rate 7.24%	Comparison Rate	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,024	Continue Compare product selection Compare
BCU Bank All-In-One Line of Credit Principal & Interest21% min. depositInvestment BCU Bank All-In-One Line of Credit Principal & Interest21% min. depositInvestment Details Fees Pros & cons Product Name BCU Bank All-In-One Line of Credit Interest Rate Type Repayment Type Principal & Interest Interest Rate p.a. 7.40% Comp. Rate p.a. Maximum Loan Term Maximum LVR 79% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros Cons	Finder score 7 Great	Interest Rate 7.40%	Comparison Rate	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,040	Continue Compare product selection Compare
Auswide Bank Freedom Package Line of Credit Interest only10% min. depositOwner-occupier Auswide Bank Freedom Package Line of Credit Interest only10% min. depositOwner-occupier Details Fees Pros & cons Product Name Auswide Bank Freedom Package Line of Credit Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 7.26% Comp. Rate p.a. Maximum Loan Term Maximum LVR 90% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee At cost Ongoing Fees $395 p.a. Settlement Fee $0 Discharge Fee $350 Pros Cons	Finder score 6.8 Standard	Interest Rate 7.26%	Comparison Rate	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $1,026	Continue Compare product selection Compare
Greater Bank Ultimate Line of Credit Home Loan Principal & Interest10% min. depositOwner-occupierNSW, QLD & ACT only Greater Bank Ultimate Line of Credit Home Loan Principal & Interest10% min. depositOwner-occupierNSW, QLD & ACT only Details Fees Pros & cons Product Name Greater Bank Ultimate Line of Credit Home Loan Interest Rate Type Repayment Type Principal & Interest Interest Rate p.a. 7.60% Comp. Rate p.a. Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $500 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $180 Discharge Fee $300 Pros Cons	Finder score 6.4 Standard	Interest Rate 7.60%	Comparison Rate	Fees Application: $500 Ongoing: $0 p.a.	Monthly Payment $1,060	Continue Compare product selection Compare
Auswide Bank Fixed Home Loan Plus Interest only10% min. depositInvestment Auswide Bank Fixed Home Loan Plus Interest only10% min. depositInvestment Details Fees Pros & cons Product Name Auswide Bank Fixed Home Loan Plus Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 7.78% Comp. Rate p.a. Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee 396 (GST incl) Valuation Fee At cost Ongoing Fees $395 p.a. Settlement Fee $0 Discharge Fee $350 Pros Cons	Finder score 6.3 Standard	Interest Rate 7.78%	Comparison Rate	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $1,079	Continue Compare product selection Compare
Greater Bank Line of Credit Home Loan Principal & Interest10% min. depositOwner-occupierOffset accountNSW, QLD & ACT only Greater Bank Line of Credit Home Loan Principal & Interest10% min. depositOwner-occupierOffset accountNSW, QLD & ACT only Details Fees Pros & cons Product Name Greater Bank Line of Credit Home Loan Interest Rate Type Repayment Type Principal & Interest Interest Rate p.a. 8.30% Comp. Rate p.a. Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $95 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $180 Discharge Fee $300 Pros Cons	Finder score 5.8 Standard	Interest Rate 8.30%	Comparison Rate	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,133	Continue Compare product selection Compare
Queensland Country Bank Ultimate Home Loan Package Line of Credit Principal & Interest20% min. deposit Queensland Country Bank Ultimate Home Loan Package Line of Credit Principal & Interest20% min. deposit Details Fees Pros & cons Product Name Queensland Country Bank Ultimate Home Loan Package Line of Credit Interest Rate Type Repayment Type Principal & Interest Interest Rate p.a. 8.19% Comp. Rate p.a. Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $395 p.a. Settlement Fee $450 Discharge Fee $0 Pros Cons	Finder score 5.1 Standard	Interest Rate 8.19%	Comparison Rate	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $1,122	Continue Compare product selection Compare
Hume Bank Line of Credit Loan Interest only20% min. depositInvestment Hume Bank Line of Credit Loan Interest only20% min. depositInvestment Details Fees Pros & cons Product Name Hume Bank Line of Credit Loan Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 9% Comp. Rate p.a. Maximum Loan Term 25 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Extra Repayments Yes Application Fee $600 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros Cons	Finder score 4.4 Basic	Interest Rate 9%	Comparison Rate	Fees Application: $600 Ongoing: $0 p.a.	Monthly Payment $1,208	Continue Compare product selection Compare
Hume Bank Line of Credit Loan Interest only20% min. depositOwner-occupier Hume Bank Line of Credit Loan Interest only20% min. depositOwner-occupier Details Fees Pros & cons Product Name Hume Bank Line of Credit Loan Interest Rate Type Repayment Type Interest Only Interest Rate p.a. 8.75% Comp. Rate p.a. Maximum Loan Term 25 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Extra Repayments Yes Application Fee $600 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros Cons	Finder score 4.4 Basic	Interest Rate 8.75%	Comparison Rate	Fees Application: $600 Ongoing: $0 p.a.	Monthly Payment $1,181	Continue Compare product selection Compare

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What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

Written by

Richard Whitten

Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

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