Compare BMC Mortgage Home Loan offers.
Established in 1979, BMC Mortgage offers a range of home loans to suit an extensive variety of individual and commercial needs. This customer-focused business aims to provide fast approvals and friendly advice to its customers.
BMC Mortgage Corporation no longer offer new home loans. Existing customers can still contact Origin MMS or AISA to discuss their current loans.
- Origin MMS: 1300 767 023
- AISA: (02) 9215 4100
Who is BMC Mortgage?
BMC Mortgage Corporation aims to provide competitive rates and a range of mortgage products tailored to the individual needs of its customers. Many loans offered are designed by BMC to take the hassle out of borrowing and help you pay off your loan sooner.
Some of the features included in BMC loans include redraw facilities, split loans, principal reductions, salary deductions and 24-hour online access. Flexible loan terms are available, while flexible repayment options let you pay off your loan at a pace that suits your budget.
Home loans offered by BMC Mortgage
Homeowners and Investment home loans
These loans are available for the purchase and refinancing of residential real estate. It has a competitive variable interest rate and no annual or monthly fees, these basic options are suitable for those looking for a no-frills home loan.
Features include principal and interest or interest-only repayments, a redraw facility and loan split options. Salary crediting is available, while flexible repayment options means you can pay weekly, fortnightly or monthly.
Construction home loan
A BMC Construction home loan helps finance the building of your dream home. No monthly or annual fees apply to this loan, but a construction drawdown and progress payment inspection fees are included.
Redraw, loan split and principal reduction options are not available until the loan is fully drawn and there’s no fee for paying the loan off early.
Low Doc home loan
Available for owner-occupied or investment loans, the Low Doc home loan is suitable for self-employed borrowers. With no annual or monthly fees, this loan allows you to make repayments on a weekly, fortnightly or monthly basis.
A redraw option and salary crediting are available, while principal reductions are permitted at any time without penalty. Principal and interest and interest-only repayment options are offered.
Line of Credit home loan
BMC Line of Credit loans are available for any purpose and attract no monthly or annual fees. Minimum repayments of interest are made monthly, while direct salary crediting is also available. Other loan features include a redraw facility and the option to make principal reductions at any time without penalty.
BMC also offers Fixed Rate Loans, No Doc Loans and Commercial Loans.
Pros and cons of BMC Mortgage home loans
- Competitive fees. Many of the loan products offered by BMC Mortgage do not attract any monthly or annual fees, which is a big plus in anyone’s language./li>
- Flexible repayment options. Many loans offer weekly, fortnightly and monthly repayment options to suit your budget, and some even let you repay your loan early without incurring any penalty.
- Choice of loans. BMC offers several loan products, so you may be able to find what you’re looking for with one of its loans.
- Lack of branches. BMC has a head office in Sydney but no branches anywhere else in Australia. If you like one-on-one person-to-person contact, then you may want to consider another lender.
How to apply for a BMC Mortgage home loan
If you’d like to apply for a BMC Mortgage home loan, please consult a mortgage broker.
Documents needed to apply for a BMC Mortgage home loan
You’ll need to supply a range of personal details, including:
- 100 points of identification, including photo ID such as a driver’s licence or passport
- Proof of your current address
- Your employer’s name and how long you have been working with your current employer
BMC Mortgage will want you to provide documentation regarding the property you are purchasing, including copies of the:
- Contract of sale
- Certificate of title
- Transfer of land
You will need to provide financial information so the lender can determine your ability to make repayments and how much you can borrow. The information you’ll have to provide includes:
- Details of your income. Depending on your situation, this could be in the form of payslips, tax returns, bank statements or your contract of employment.
- Details of your assets, including real estate, vehicles, savings and shares.
- Details of any liabilities you may have, such as credit card debt and other loans, as well as information about your recurring expenses.
Before deciding whether one of BMC Mortgage’s home loans is right for you, compare its products with other loans on the market and speak to an expert to get tailored advice.