Comtax Credit Union home loans

Whether you are a first time home buyer or wanting to invest in property, Comtax Credit Union could have the home loan to help.

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Comtax Credit Union

Although a member owned credit union, Comtax offers home loan products that come with the same benefits as those offered by big banks. This is important for a borrower who wants the sophisticated products found in banks, with the personalised service you get from credit unions.

Compare Comtax Credit Union home loan

Rates last updated October 14th, 2019
Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
$350 p.a.
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$350 p.a.
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$144 p.a.

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Who is Comtax Credit Union?

Comtax Credit Union has been focused on servicing the employees of the Australian Tax Office (ATO) since 1948. In 2008 they merged with Security Credit Union Ltd. to form the Allied Members Credit Union (AMCU). Although they are now able to serve those working as Social Security Officers in Australia, they made the decision to maintain their identity by acting as a division of AMCU. This allows for them to provide the benefits that come with a larger banking institution without losing their ability to meet the specific needs of the community they serve.

Home loans provided by Comtax Credit Union

Comtax home loans can be used by owner occupants or investors for the purchase or refinance of a residential property. This is a variable rate home loan where you can attach a VISA overdraft account and use it as a line of credit. You may borrow up to $1 million, or 95% of the value of the property.

Comtax also offers pre-approval, letting you know how much house you can afford before you begin shopping for one. You also get to take advantage of an offset account, flexible repayment schedule of your choice and the ability to make withdrawals with a redraw facility. Choose terms of up to 30 years and make extra repayments with no fees or penalties.

Pros and cons

When looking at Comtax home loans you are going to find a number of money saving features:

  • Offset account. An offset account can reduce the amount of interest paid on your loan, potentially saving you thousands of dollars over the life of the loan.
  • Flexible repayments. You choose whether to make weekly, fortnightly or monthly repayments. Not only can you have these coincide with your income payments, weekly or fortnightly repayments can help you pay off the loan faster.
  • Pre-purchase approval. Having your home loan approved before finding a property can save you money and time during the search.
  • Visa overdraft. An overdraft can help you with purchases needed after the home is purchased and only pay interest on the amount used.


  • Fees. There is an $800 fee for the home loan application.
  • Membership. Only members of Comtax Credit Union are eligible for the home loan. You will need to meet employment requirements as well as pay a $10 fee to purchase one share of the institution.

How to apply for a Comtax Credit Union home loan

Comtax makes it convenient to apply for a home loan by offering the application online:

  • Apply online. You can fill out and submit your application online.
  • Download application. You may also download a copy of the application to fill out by hand and submit in person.
  • Call Comtax. If you have trouble filling out the application you can call a loan representative for assistance.

Documents needed to apply for a Comtax Credit Union home loan

Personal information

Proving your identity will be the first step in applying for a home loan. This can be done by submitting one of the following forms of identification:

  • Driver’s licence. Your driver’s licence will need to be valid with a current picture.
  • Passport. A passport is also an acceptable form of photo ID so long as it has not expired and contains your signature.
Property information

Your home loan will be a secured loan, with the property purchased used as collateral. Unless you are applying for pre-approval, Comtax will ask for the following documentation regarding the property you are purchasing:

  • Sales contract. This is a binding document between you and the seller outlining the details of the sale and of the property being purchased.
  • Title certificate. A certificate of title is a legal paper which will show Comtax that the seller is legally within his rights to make the sale.
  • Transfer of land. This is necessary to show that the property transfer will reflect you as the new owner of the land.
Financial information

The credit union is responsible to ensure that you have the financial means to meet the terms of the home loan. To do this, they will ask for the following items:

  • Income. Comtax requires your last two pay slips along with proof of other income.
  • Liabilities. The last statement for any loans, credit cards and store cards that you are responsible for. If you are consolidating debt you will need the last three months worth of statements from those accounts you intend to pay off and close.
  • Residence. Comtax will also ask for your current home loan statement with rates notice or a rental lease if you do not own a home at the time.
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