Home Loans

If it’s your first home, next home or investment, find your home loan, your way.

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Home Loans

When it comes to home loans, there's no such thing as one size fits all. Whether you're buying or renovating a home, investing in property or looking to refinance, there's a home loan option that suits your needs. Discover our home loan products, calculators, helpful resources and more.

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  • Your Way Owner Occupier Home Loan

    Keep it simple with our basic low-rate home loan with flexible options to help you to do your home loan, your way.

    Learn more

    • 5 .49
      pa %
      Your Way Home Loan Basic Variable rate (Owner, P&I, LVR up to 60%)
    • 5 .55
      pa** %
      Your Way Home Loan Basic comparison rate (Owner, P&I, LVR up to 60%)
    • Fixed and variable rate options
    • Free redraw on the variable portion
    • Make unlimited additional repayments on variable loans
    • Ability to split loan
    • Available for first home loans
    Apply Become a member

  • Your Way Plus Owner Occupier Home Loan

    Take advantage of a home loan with offset and much more with our package home loan.

    Learn more

    • 5 .49
      pa %
      Your Way Plus Home Loan variable rate (Owner, P&I, LVR up to 60%)
    • 5 .80
      pa** %
      Your Way Plus Home Loan comparison rate (Owner, P&I, LVR up to 60%)
    • Establishment fee waived (normally $600)
    • Flexibility to make additional repayments on variable rate loans and up to $10k per anniversary year on fixed rate loans
    • 100% Offset facility so you can pay your loan down faster
    • Available for first home loans
    Apply Become a member

  • Your Way Investor Home Loan

    A simple and flexible investment loan with the option to split the loan and access free redraw on the variable portion.

    Learn more

    • 5 .74
      pa %
      Your Way Home Investor Loan Basic Variable rate (Investor, P&I, LVR up to 60%)
    • 5 .80
      pa** %
      Your Way Home Loan Basic Comparison rate (Investor, P&I, LVR up to 60%)
    • Fixed and variable rate options
    • Free redraw on the variable portion
    • Make unlimited additional repayments on variable loans
    Apply Become a member

  • Your Way Plus Investor Home Loan

    Access a loan with an offset facility and additional benefits with our package home loan for your investment property.

    Learn more

    • 5 .74
      pa %
      Your Way Plus Home Loan variable rate (Investor, P&I, LVR up to 60%)
    • 6 .04
      pa** %
      Your Way Plus Home Loan comparison rate (Investor, P&I, LVR up to 60%)
    • Establishment fee waived (normally $600)
    • Flexibility to make additional repayments on variable rate loans and up to $10k per anniversary year on fixed rate loans
    • 100% Offset facility so you can pay your loan down faster
    Apply Become a member
A graphic of a magnifying glass showing the value in a house representing the options refinancing can provide.

Useful home loan resources

Whether you are entering the market for the first time, looking to refinance or simply working out how much you can borrow, we have broken down each step so you have all the information you need in one place.

Learn more

Why choose us?

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Flexibility for you

We accept three months of employment history for regular relief and casual teachers. Other credit criteria apply.

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A single contact at every stage

Have the same Lending Specialist throughout the whole process.

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Anytime, anywhere

Face to face (where available), on the phone or by video, our Lending Specialists can work around your teaching hours.

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Australia's only dedicated bank for teachers

Established by teachers for teachers, Teachers Mutual Bank has been supporting and celebrating essential workers in education and their families for over 50 years.

FAQs

How much can I borrow from the bank for a home loan?

How much the Bank will lend to you depends on a number of factors including your income, ongoing expenses, how much deposit you may have saved, any other loans or debt you may have, and any other assets or investments you may hold.

Our home loan borrowing power calculator can help you to get an estimate on how much you may be able to borrow with Teachers Mutual Bank based on your unique circumstances.

How much will my home loan repayments be?

Your repayments on a home loan can depend on a number of factors including the amount borrowed, the loan term, the interest rate, and the frequency of repayments.

Use our home loan repayments calculator to get an estimate of how much your loan repayments might be on a weekly, fortnightly or monthly basis based on your specific needs.

How much deposit do I need to save to get a home loan?

Your deposit is the amount of money you need to put toward the purchase price of the property up front, usually from savings.

You (the borrower) will usually need to provide at least 20% of the purchase price of the property as a deposit. With this level of deposit you can avoid having to pay Lenders Mortgage Insurance (LMI).

If you are not able to provide 20% deposit, you will need to pay LMI to your lender in order to borrow the amount you require to purchase your desired property.

Some lenders provide home loan options requiring as little as 5% deposit, but LMI will be payable in most cases. There are also options for First Homebuyers who may be eligible for a 5% deposit and no LMI through the Home Guarantee Scheme.

The larger the deposit you can pay, the lower the amount you would need to borrow and subsequently the lower your regular repayments would be.

Find out more here.

What is LMI on a home loan?

Lenders Mortgage Insurance (LMI) is a one-off insurance policy that Teachers Mutual Bank takes out to protect itself against the risk should you (the borrower) default on your loan repayments and the Bank is unable to recover the full outstanding amount of the loan.

By reducing the Bank’s risk, Lenders Mortgage Insurance could help you purchase your dream home with as little as 5% of the purchase price.

To avoid paying LMI, you (the borrower) will need to provide a minimum deposit of 20% of the purchase price of the property.

Find out more here.

A graphic of a calculator with a dollar sign next to it showing that you can calculate expenses and savings.

Calculate your borrowing power

Finding out more about home loan financing can be overwhelming and complicated, but we’re here to help with our borrowing power calculator. Enter your details into our easy to use calculator to get an approximate idea of what you could be eligible to borrow.

Learn more
A graphic of a house with two curved arrows representing repaying a home loan.

Understand repayment types

There are several ways you can make payments on your home loan. Consider paying weekly or fortnightly. Interest is calculated daily so any payments you make before the monthly payment is due, help reduce the principal which reduces the interest. Making the right repayment choices for your unique needs can help you pay off your mortgage sooner.

Read more

Get in touch today.

Take the next step in your home loan journey.

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Talk to a Lending Specialist

We can visit you at home, call you on the phone or speak to you on a video call.

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See if you pre-qualify

Fill a short form to secure a pre-qualification for your home loan, and peace of mind.

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Apply for a home loan online

Complete our online application form to begin your home loan financing.

Start your application
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