homeloans.com.au is an online Australian lender owned by the Resimac Group. homeloans.com.au has variable rate home loans for investors and owner-occupiers. Check out the full table of homeloans.com.au products below or read more about the lender and its loans.
Compare homeloans.com.au home loans for April 2024
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "More Info".
homeloans.com.au does not offer fixed rate home loans. This is relatively uncommon, and borrowers looking for a low fixed rate loan should consider other options.
homeloans.com.au is an online lender owned by Resimac, which is a non-bank lender that has been in business since 1985.
You need at least a 20% deposit for many homeloans.com.au home loans, but there are options for borrowers with smaller deposits.
Here are the key features and details you need to know about homeloans.com.au's mortgage products.
Feature
Details
Minimum deposit
Many homeloans.com.au loans have 80% maximum LVRs. This means you can borrow up to 80% with a homeloans.com.au mortgage. But the lender has a few options for borrowers with low deposits (that is, deposits below 20%).
homeloans.com.au loans have very low fees, including no application or ongoing fees on many loans. This could save you hundreds of dollars in loan costs.
How do I apply for a homeloans.com.au mortgage?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
Each homeloans.com.au product has specific eligibility criteria but some will apply to all products. For example:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with homeloans.com.au, you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property, but to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (such as savings accounts and investments) and liabilities (for example, any outstanding debt you may have).
If you want to compare loans from lenders similar to homeloans.com.au, then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
Tic:Toc. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right homeloans.com.au loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Are you comfortable applying online? As homeloans.com.au is an online lender, you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
What do you need the loan for? If you're buying a home to live in, you need an owner-occupier loan. Property investors need an investment loan rate. homeloans.com.au has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Then homeloans.com.au is a good option. However, this lender has no fixed rate loans.
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits, and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big 4 banks (CommBank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification.
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