Community First Home Improvement Loan

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Update your kitchen or get that pool room you’ve always wanted with a Home Improvement Loan from Community First Credit Union.

Looking to upgrade your home? Community First Credit Union has a personal loan designed specifically to help you finance it. You can use this loan for extensions, upgrades to heating, ventilation, air conditioning, kitchens, bathrooms and other rooms as well as flooring and blinds. It essentially covers the large-scale renovations that you’ve dreamed about doing if you had the funds.

From 5.99% (variable)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NameCommunity First Credit Union Home Improvement Loan
Interest Rate (p.a.)
From 5.99% (variable)
Comparison Rate (p.a.)6.26%
Interest Rate TypeVariable
Min Loan Amount$1,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

Main points to consider about the Home Improvement Loan

This is an unsecured personal loan, which means that you don’t need to use any of your home equity as security for the loan. The minimum you can borrow is $1,000 and the maximum is $50,000. You can choose a loan term between 1 to 10 years. This personal loan rate is variable and you can make extra repayments without penalty and redraw funds as you need them.

Features of the Home Improvement Loan

Some of the features that come with this loan include:

  • Low fees. You won’t pay monthly account-keeping fees with this loan.
  • Pay out your loan early without penalty. This is ideal if you’ve got some extra cash lying around and want to pay off your debt as quickly as possible.
  • Large borrowing amount. You are able to borrow a minimum of $1,000 and a maximum of $50,000 to turn your extension dreams into a reality.
  • Redraw facility available. Make extra payments without penalty and redraw the extra money as you need it. This puts you in control of your funds.
  • Unsecured loan. This loan is unsecured, which means that the rates are higher as there’s more of a risk to the lender.
  • Rates. This loan comes with a competitive variable rate. Rates start from 5.99% p.a. for loan terms up to 5 years and 7.99% p.a. for loan terms up to 10 years.
  • Flexible loan terms. The loan terms available start from 1 year and go as high as 10 years.
  • Straightforward terms on what you can and cannot use the loan for. You can use this loan for many purposes, such as swimming pools, house extensions, upgrades to kitchens and bathrooms, heating, ventilation and air conditioning, as well as fixing up the backyard through landscaping and fencing. You could also use it for flooring, roofing and blinds. Although it might seem like this covers everything, you are not able to use it for purchasing appliances, repairing your furniture or appliances, or for interior decorating.
  • Invoices must be supplied. Before you get too caught up in your dream backyard, don’t think that you can just get your mate to do it if he isn’t licensed. The only way that you get access to the funds you’ve been approved for is if there are quotes or invoices for purchases or work completed.

How to apply for the Home Improvement Loan

In order to apply for the loan, click on ‘Go to Site’ and ensure you meet the following requirements:

  • Be over the age of 18
  • Have a regular income
  • Be an Australian citizen or permanent resident
  • Have been in your current job for longer than six months
  • Have not declared bankruptcy in the last financial year
  • Have not had defaults on loans, credit cards, interest-free finance or store cards in the last five years

You also need to provide the following:

  • Personal details. This includes your current and previous address, phone number and email address.
  • Details of your income. This includes details of your employment, any assets that you might own (such as your house or savings) as well as any debts you’ve incurred (such as mortgages, loans and credit cards).

This loan is ideal for those who want to turn their house into a home. However, compare other personal loans and ensure this one meets your needs before making a final decision.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants. Note: These rates are available until 2 February 2021. Credit, eligibility criteria and terms & conditions apply.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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