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Easy Street Fixed Home Loan

Don't worry about rising interest rates with the Easy Street Fixed Rate Home Loan

Choosing a home loan is a huge decision, and you want to make sure you have considered all of the options. However, in the search for the right home loan it is easy to get distracted and drawn into the big names, the big marketing campaigns and the big promises of the big banks when really, after settlement you can feel like just another account number.

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Review by

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) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

Easy Street is a division of Community First Credit Union, the biggest credit union in Sydney. As part of Community First, you can have the peace of mind that Easy Street is licensed and regulated like all Australian banks. Because Easy Street only offers its products online, it cuts down on overheads and can pass on competitive deals to you.

About this loan

What are the features and benefits of the Easy Street Fixed Home Loan?

  • A two or three year fixed term. You can choose to fix your home loan interest rate with Easy Street for two or three years, depending on your plans for the future and where you think interest rates are going in the medium term.
  • A 100% offset account. An offset account is a transaction account which is linked to your loan account and any funds in your offset account save you interest on your home loan. For example, if you have a loan of $250,000 and you have $10,000 in your offset account, then when interest is calculated you only pay interest on $240,000. This means your offset account is the ideal place for all of your savings and other income as you can reduce your repayments and your loan term by saving interest and you are not taxed on interest saved, only on interest earned.
  • Additional repayments. When you have some extra funds you can deposit them directly into your loan account to reduce your principle amount. This reduces the loan term and the interest you pay. You can make lump sum additional repayments, or you can set up a regular monthly repayment which is more than the minimum amount due. You can pay an additional $25,000 each year fee free.
  • Redraw facility. You will feel more confident depositing extra funds into your home loan if you know you can easily access them again, which you can with a redraw facility, which doesn't restrict you with a minimum redraw amount so you only withdraw as much as you need.
  • No ongoing fees. There are $0 monthly or ongoing account-keeping fees to pay.
  • Switch to a variable rate or another fixed term. When your two or three year fixed term ends you can switch to the standard variable interest rate at the time, or you can fix your loan at the current fixed rates.
  • Borrow up to 95%. You can borrow up to 95% of the property value, so you only need to save up a 5% deposit, plus enough to cover lender's mortgage insurance.
  • Versatile loan uses. You can use the Easy Street Fixed Home Loan if you are an owner occupier, refinancing, investing or renovating.

Benefits of the Easy Street fixed home loan

The Easy Street Fixed Home Loan has a number of attractive benefits which set it apart from the products on offer by other second tier lenders and help it compete with the loans from the big banks:

  • Fully featured. Most fixed rate home loans will have very limited features because the lender has fixed your interest rate and therefore fixed their income and they don't want you making savings in interest and eating into their income with features such as additional repayments and offset accounts. However, the Easy Street Fixed Home Loan has additional repayments and redraw, a 100% offset account, no fees and a generous LVR.

Why choose a fixed interest rate?

  • Those on a tight budget. If you have a young family or are starting out in your career, you are probably very careful with your money from week to week and you don't need a fluctuating interest rate impacting on your budget each month.
  • You like reliability. Even if you don't need to stick to a tight budget, you might like to know what your finances will be doing from month to month and a fixed interest rate home loan doesn't subject you to the whims of the RBA.
  • The bottom of the interest rate cycle. Official interest rates are always running on a cycle of peaks and dips and the best time to choose a fixed interest rate home loan is when official rates are at their lowest. Unfortunately many people choose to fix their home loan interest rate at the peak of a cycle, when they can't take any more interest rate rises, but if you can ride out the peak and wait for the bottom of the next dip, you can lock in an affordable low rate.

How to apply

If you are ready to apply for an Easy Street Fixed Home Loan you can apply online. You can also complete an enquiry form on the Easy Street website and have a loan consultant contact you when it is convenient, to discuss your options and application.

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    Default Gravatar
    July 7, 2023

    Can I please have someone phone me.

      July 13, 2023

      Hi Sue,

      At Finder we help Australians compare options but we don’t offer these products directly. You will need to contact Easy Street directly, which you can do on 1300 13 14 65.

    Default Gravatar
    June 5, 2023

    Does Easy Street offer loans in all Australian states?

      June 8, 2023

      Hi Fiona,

      Yes, Easy Street offers loans across Australia.



    Default Gravatar
    March 13, 2023

    How is the comparison cheaper than this interest rate when an application fee applies? Is there a cash back offer that I cannot see on your site?

      March 22, 2023

      It’s because the loan reverts to a lower variable rate at the end of the fixed period. The comparison rate is calculated over the life of a hypothetical loan and takes the revert rate into account.

    Default Gravatar
    March 1, 2023

    Would I need a cash deposit?

      March 2, 2023

      Hi Joanna,
      You will need at least a 5% deposit in your account to take out an Easy Street Home Loan, as long as you are paying for Lender’s Mortgage Insurance. Without LMI or any other government scheme you will need at least a 20% deposit in your account.

    Default Gravatar
    May 13, 2014

    I am not sure that you can help me; however, I am trying to gain an owner builder construction loan to build my house. I currently have a mortgage for a 3 acre block (still owe $180,000, worth approx $250,000) The build will cost approximately $340,000. This includes power, water and sewage on the block. I am a qualified metal fabricator and the house frame will be metal. I also have allot of building experience due to a previous major renovation project. I

    Look fwd to your advice


      May 14, 2014

      Hi Rod,

      Thanks for the question.

      You may need to contact Easy Street directly to discuss possible lending options for your situation. Alternatively, you can compare construction loans and learn more about how they work. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      I hope this helps,

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