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
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.