This is the 10% deposit (90% LVR) version, comparing your three lender options:
P&N Bank, Auswide and Bankwest. Pick a lender in section 2 and the whole summary updates to
that lender's rate. The figures from your Mortgage Choice servicing (14 July 2026) are
fixed and shown in grey. The assumptions you can explore are adjustable (the offset
balance and monthly top-up, and the capital-growth rate) using the sliders, the
+ / − buttons, or by entering a value directly. This is a principal-and-interest
loan, modelled on conservative assumptions.
1Funds & Acquisition
These figures are fixed, drawn directly from your Mortgage Choice servicing (14 July 2026). They are the same across all three lenders; only the interest rate and repayment change, which you can switch in section 2. They are grouped to show where the money comes from: the property, the loan, and the cash you contribute. The assumptions you can adjust appear further down, in the Offset Account and Growth sections.
1The property
Purchase price land + building…
2The loan · what your lender funds
Total loan base + LMI…
Loan-to-value ratio (LVR) total loan ÷ purchase price…
Monthly repayment principal & interest…
3Your money · cash to complete
Deposit the part of the price the loan doesn't cover (price − base loan)…
Cash to complete deposit + duty + fees…
Lenders Mortgage Insurance is not in this list: it is added to the loan, so it doesn't come out of your savings.
Stamp-duty saving vs an established home
…
Because this is a split house-and-land contract, Victorian stamp duty is assessed on the land value only ($…), not the full purchase price.
2Your three lender options
All three lenders will fund this purchase at a 90% loan on the same loan amount, LMI and cash to complete. The only difference is the interest rate, repayment and fees. Tap a lender to make it the one used throughout this summary.
All three at a glance. The highlighted column is the lender used in the offset and growth sections below.
Your income is fully assessed. All three lenders assessed this loan as comfortably serviceable, and each accepts a return-to-work letter so Christabell's income continues to be counted while she is on maternity leave. Final approval is always subject to the lender's own credit assessment.
3Why a 10% deposit is the stronger move
You asked us to compare this 10% deposit (90% loan) against a 5% deposit (95% loan). Putting in the extra deposit costs a little more up front, but it saves a great deal over the life of the loan and opens up far more lenders. Here is the difference side by side.
10% deposit90% loan · recommended
Cash to complete~$83,700
LMI added to the loan~$11,600
Best rate availablefrom 6.64%
Monthly repayment~$3,600
Lenders who will lend hereMany
5% deposit95% loan
Cash to complete~$59,600
LMI added to the loan~$21,800
Best rate available~7.39%
Monthly repayment~$4,075
Lenders who will lend hereVery few
The 5% deposit saves about $24,000 up front, but it costs roughly $71,000 more over 10 years, adds about $475 a month to your repayment, and nearly doubles the LMI. It also leaves very few lenders: for Mickleham (postcode 3064), most lenders (including Westpac and St.George) will only go to 90% anyway. Putting in the 10% deposit is clearly the stronger structure: a lower rate, about half the LMI, a smaller repayment, and your full choice of the three lenders above.
The 90% figures are exact, from your Mortgage Choice servicing. The 95% figures are indicative, based on the 95% construction options available in Mickleham. Projected 10-year saving is an estimate and will vary with rates.
4Construction Phase
Land settles first, then the loan is released to the builder in stages as construction reaches each milestone (deposit, slab, frame, lock-up, fixing and completion). Interest is charged only on the funds released to date, so the interest cost begins small and grows as construction progresses. No rental income is received until the build is complete.
Interest during construction funded from cash, no rent yet…
Avg. monthly interest through build…
Est. total holding cost to completion…
5Offset Account
Every dollar held in your offset account reduces the balance the bank charges interest on, while remaining fully accessible to you. Because your repayment on a principal-and-interest loan stays the same, more of each repayment goes towards the principal, so the loan is repaid sooner and the total interest is reduced.
Interest you save in the first year
…
from your offset balance plus any monthly top-ups
Per day
…
Per week
…
Per month
…
Per year
…
Loan cleared with offset + top-ups…
Paid off earlier by…
Total interest, no offset…
Total interest, with offset…
Total interest saved…
Loan, no offset
Loan, with offset
Offset balance
Why an offset suits a portfolio strategy. Where the goal is to build equity and progress to a
further investment, an offset account is well suited: it reduces interest just as an equivalent
repayment would, while keeping those funds available to put towards a future deposit. You
benefit from the interest saving and retain flexibility. The interest saved assumes the rate remains at the current level; if it changes, the saving will change accordingly. Projected interest figures are rounded to the nearest $100. These are estimates only, not a guarantee.
6Growth & Equity, 10 Year View
Modelled on a conservative capital-growth rate. For reference, recent 2026 Melbourne bank forecasts ranged from CBA 2% to Westpac 7% (ANZ 6.6%, Domain house 6%, KPMG house 6.8%).
Projected position, end of year 10
…
…
…
Property value
Equity
Loan balance
| Year | Property value | Loan balance | Equity | Equity gain |
|---|
Equity is the property’s value less the loan balance. It grows in two ways at once: the value rising with
capital growth, and the loan reducing as it is paid down (faster when you use the offset and top-ups
above, which is reflected here). This view covers the property and loan only; it excludes rental income, holding
costs and tax, and your offset savings remain yours on top of this.
Please note: these figures are estimates only and are not a guarantee of how the property will
perform. They’re based purely on the numbers you enter and published bank forecasts. Actual capital growth,
interest rates and returns will vary. Projected figures are rounded to the nearest $100.
Helpful guides
Short Mortgage Choice fact sheets explaining the parts of this summary. Each opens as a PDF in a new tab.
Construction loans
How a split house-and-land loan is drawn down in stages.
Open PDF
What is LMI?
Lenders Mortgage Insurance on loans above 80% of the value.
Open PDF
Home loan features
Offset accounts, redraw, extra repayments and more.
Open PDF
Property purchase costs
Stamp duty, government fees, inspections and insurance.
Open PDF
The home lending process
The steps from application through to settlement.
Open PDF
Prepared by Troy Gunasekera · Mortgage Choice Karrinyup ·
Credit Representative 392556 authorised under Australian Credit Licence 382869.
Indicative only, not a formal credit quote, tax advice, or a property valuation. Figures are estimates
based on the inputs shown and assumptions that will vary in practice; obtain a quantity-surveyor depreciation
schedule and independent tax advice before relying on any figure. Mortgage Choice Pty Ltd ABN 57 009 161 979
ACL 382869 and Smartline Operations Pty Ltd ABN 86 086 467 727 ACL 385325 are owned by REA Group Ltd.
Build …