Community First Home Loans

Rates and Fees verified correct on December 9th, 2016

Community First is a long established Australian credit union, having been operating for over 50 years.

Being a credit union means that Community First is owned and run by members and this allows them to offer lower interest rates, fairer fees and better service because the profits go back into the business, rather than to shareholders.

The organisation currently looks after 76,000 of the 4.5 million credit union customers in Australia and offers the range and features you would expect from a financial institution across their home loan, personal loan, savings and insurance products.

Compare Community First Home Loans

Rates last updated December 9th, 2016
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Loan purpose
Offset account
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Community First Basic Variable Home Loan - True Basic Home Loan (Owner Occupier LVR > 80%)
Community First lowest ongoing variable rate. An easy to manage loan with no account keeping fees.
4.51% 4.57% $600 $0 p.a. 95% More info
Community First Honeymoon Home Loan  - 1 Year Intro Rate (Owner Occupier)
A low fixed rate home loan for the first 12 months with no annual fee, no account keeping fee.
3.49% 5.12% $600 $0 p.a. 95% More info
Community First True Value Variable Home Loan - Investor
Flexible features to help manage your home loan with an 100% offset account.
5.32% 5.39% $600 $0 p.a. 95% More info
3.79% 5.14% $600 $0 p.a. 95% More info
3.85% 5.05% $600 $0 p.a. 95% More info
3.69% 4.93% $600 $0 p.a. 95% More info
3.99% 4.99% $600 $0 p.a. 95% More info
4.10% 4.16% $600 $0 p.a. 80% More info
4.27% 4.72% $600 $395 p.a. 95% More info
4.42% 4.87% $600 $395 p.a. 95% More info

Types of home loans from Community First

Choosing the type of home loan you want and need is just as important as choosing the right provider and so Community First offers you a range of home loan products each with different features to suit your situation.

  • True Basic Home Loan. This is Community First’s Basic Variable Home Loan and has the lowest ongoing interest rate of their product range, allowing you to affordably manage your repayments and not worry about fancy features you don’t need, and especially don’t want to pay for.
  • Accelerator Home Loan. If you’re looking for a little more flexibility and functionality this variable rate home loan also includes a 100% offset account which allows you to keep your savings and transaction funds in one account to save on fees, and that balance then saves you interest. Customers are also rewarded with a discount of up to 0.50% off the standard variable rate plus a range of other discounts on products and services.
  • True Value Home Loan. The True Value is a standard variable rate loan with an offset account, and which allows additional repayments and redraws from the loan account.
  • Honeymoon Home Loan. To ease you into the new role of mortgage holder you can enjoy a low fixed interest rate for the first year. This gives you a chance to rebuild your savings after fulfilling deposit requirements, or gives you extra room in your budget to decorate and furnish your new home. After the first year the rate reverts to the Community First standard variable rate.
  • Fixed Home Loan. You can choose a fixed interest rate for 1, 2 or 3 years to give you the security of a fixed home loan repayment and protection against interest rate rises. The Community First fixed home loans allow for free additional repayments of up to $25,000 p.a. and a redraw facility.

The Community First difference

Community First allows you to manage and apply for your home loan in a way which suits you and they have mobile lenders and online application forms, as well as a mobile banking app which you can use on your mobile phone any time anywhere.

Your home loan will not have an annual fee unless you are adding a package, and with the Community First Accelerator Package you’ll be adding:

  • An interest rate discount of up to 0.90% p.a. for the life of the loan depending on your loan amount.
  • A 100% offset account which can save you interest everyday you have a balance in your account, while giving you transaction account access to the funds at any time.
  • A credit card with no annual fee or application fee.
  • A discount on home and contents insurance.
  • A discount on car insurance.

Choosing a home loan and a home loan provider is not a decision making process which should be rushed. You’ll need to assess your own needs and financial situation, consider the grants and assistance available for your application and look at your needs now and into the medium term.

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This page was last modified on 19 October 2016 at 16:03.

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2 Responses to Community First Home Loans

  1. Default Gravatar
    Faye | March 31, 2016

    Can you get a home loan for 150000 with 50.000 deposit if on a disability pension. Age 39.

    • Staff
      Belinda | April 1, 2016

      Hi Faye,

      Thanks for reaching out.

      We have a page about home loans for Centrelink recipients where you’ll see that most lenders do accept the disability pension as a secondary income source. On this page, you can enquire with a mortgage broker to discuss your borrowing needs and your borrowing capacity.

      Please note that lenders treat these types of applications on a case-by-case basis and the amount you can borrow will depend on a range of factors including your income sources, assets, credit history and any debts that you have (e.g. credit cards or personal loans).

      You might be interested to use our borrowing power calculator to get an estimate of the amount you can afford to borrow.

      Thanks,
      Belinda

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