Australian Unity home loans

Australian Unity is a member-owned bank offering banking, health insurance and investment products. Australian Unity has home loans for investors and owner-occupiers, including fixed and variable rates. Check out the full table of Australian Unity products below or read more about the lender and its loans.

Compare Australian Unity home loans for December 2023

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Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Australian Unity Kickstarter Home Loan Principal & Interest30% min. depositOwner-occupier	Interest Rate 6.03%	Comparison Rate 6.02%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $904	More Info Compare
Australian Unity Health, Wealth and Happiness Package Home Loan Principal & Interest30% min. depositOwner-occupierOffset account	Interest Rate 6.13%	Comparison Rate 6.47%	Fees Application: $0 Ongoing: $399 p.a.	Monthly Payment $913	More Info Compare
Australian Unity Health, Wealth and Happiness Package Home Loan Principal & Interest20% min. depositOwner-occupierOffset account	Interest Rate 6.19%	Comparison Rate 6.53%	Fees Application: $0 Ongoing: $399 p.a.	Monthly Payment $919	More Info Compare
Australian Unity Health, Wealth and Happiness Package Fixed Home Loan Principal & Interest 2Y Fixed30% min. depositOwner-occupier	Interest Rate 6.84%	Comparison Rate 6.61%	Fees Application: $0 Ongoing: $399 p.a.	Monthly Payment $983	More Info Compare
Australian Unity Wealth Builder Investor Package Variable Home Loan Principal & Interest30% min. depositInvestmentOffset account	Interest Rate 6.34%	Comparison Rate 6.68%	Fees Application: $0 Ongoing: $399 p.a.	Monthly Payment $934	More Info Compare

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Australian Unity home loan features

Here are the key features and details you need to know about Australian Unity's mortgage products.

How do I apply for an Australian Unity 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 Australian Unity 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 Australian Unity 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 (savings accounts, investments) and liabilities (your outstanding debt).

How to apply for a home loan

Lenders like Australian Unity

If you want to compare loans from similar lenders to Australian Unity then you can start with these large online brands, small banks and credit unions:

• Auswide. This small bank is based in Bundaberg, Queensland.
• Great Southern Bank. A Brisbane-based mutual bank (formerly CUA).
• Community First. A NSW-based credit union.
• IMB. A Wollongong-based mutual bank.
• Teachers Mutual Bank. One of Australia's largest mutual banks.
• ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
• ING. This online bank is part of the global, Dutch-based financial group of the same name.

More home loan questions

• How do I compare Australian Unity home loans?

  To make sure you find the right Australian Unity loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:

  • 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. Australian Unity has both.
  • Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes entirely?
  • What features do you need? You have to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.

• What is home loan pre-approval?

  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.

• Are there any risks going with a smaller lender?

  Most Australian borrowers bank with one of the Big Four 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.

  Australian Unity is an authorised deposit-taking institution (ADI). This means customers with money deposited in an Australian Unity savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000.

• Should I go with a fixed or variable rate?

  Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.

  A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.

• Do I need a mortgage broker?

  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.