Home loans deals worthy of the NSW fire and rescue services
The Fire Brigades Employee’s Credit Union was formed in 1968 to provide financial services to employees of NSW fire and rescue services and their families.
Surplus funds are returned to members in the form products with better deals and better rates.
The Fire Brigades Employees’ Credit Union offers home loans to NSW emergency services personnel. Home loans are available to personal borrowers and can be used by owner occupiers and investors. Business entities cannot apply for a Fire Brigades Employees’ Credit Union home loan; however, registered members can apply for a loan in the name of a SMSF. Fire Brigades Employees’ Credit Union home loans are fully featured and aimed at the money conscious. The Budget Home Loan is available as a fixed or variable loan. Both options are competitively priced. Members can get a further discount when a credit card or personal loan is bundled with a home loan.
Compare Fire Brigades Employees' Credit Union Home Loans
Home loans provided by Fire Brigades Employees’ Credit Union
Budget Home Loan
The Fire Brigades Employees’ Credit Union Budget Home Loan comes as a variable or fixed option. Fixed terms are available for 1 or 2 years. You also have the option of a fixed and variable split. Take advantage of the variable loan features and the certainty of fixed repayments. The Budget Home Loan can be used by owner occupiers or it can be used for the purchase or a second or third property. Apply and get approved for the Budget Home Loan and save on the application fee. Value adding features like unlimited additional repayments, a redraw facility and offset account (variable loans only) can save you money too.
Extinguisher Package Home Loan
The Extinguisher Package Home Loan is made for borrowers who like to keep their banking to the one institution. This loan is available with a fixed, variable or split rate of interest, and has all the features of the Budget Home Loan. A personal loan and Visa overdraft account is included with this package, the fees for these products are waived as well as other fees like the loan establishment fee and offset account keeping fee. The main charge of the Extinguisher home loan is the package fee of $300.
Pros and cons of Fire Brigades Employees' Credit Union home loans
- First Home Owner Grant Processing. The Fire Brigades Employees’ Credit Union check your eligibility and lodge an application for the NSW First Home Owner Grant (FHOG) on your behalf when you apply for a home loan. The FHOG is available once the purchase of your home has been settled.
- Home loan repayment insurance. If you’re paying both the interest and the principle components of your home loan, you’re eligible for home loan repayment insurance. For a premium, you’re covered if you’re unable to meet your mortgage repayments due to a number of events.
- Top-up your loan. If you want more money from the credit union, there’s no need to get a new loan. You can ‘top-up’ your home loan with extra funds. Home loan top-ups are available for any reasonable purpose.
- Limited availability. Fire Brigade Employees’ Credit Union home loans are only available to members of the NSW rescue services and their families.
- Budget Home Loan fees. If you want to take advantage of the offset account home loan feature, you must pay a small offset account keeping fee.
How to apply for a Fire Brigades Employees' Credit Union home loan
An application for a Fire Brigades Employees' Credit Union home loan can be completed either online or at a branch.
- Apply online. You can download, complete and send in an application form for a Fire Brigades Employees' Credit Union home loan. This form can be found on their website. This is a full application for a home loan and you need to provide identification, information about your assets, liabilities, income and expenses to support your application.
- Apply in-branch. The Fire Brigades Employees' Credit Union have a branch in Sydney. You can pick up an application form and complete it on the spot in-branch. Or you can take the form home with you and send it in at your convenience.
Following the completion of your home loan application, a member of the Fire Brigades Employees' Credit Union will be in touch to confirm your loan application has been received. Once all your information has been received and processed by Fire Brigades Employees' Credit Union, you will be contacted about whether your loan has been approved.
Documents needed to apply for a Fire Brigades Employees' Credit Union home loan
You do not need to verify your identity when you first complete the home loan application.
- Identification. If you’re not a member of the credit union, you need to provide 100 points of identification before the loan contracts are finalised.
- Membership number. Existing members of the Fire Brigades Employees' Credit Union need to enter their membership number.
- Previous address. If you’ve been in your current address for less than two years, you need to list your previous address.
You need to provide information about the property you want to purchase to complete an application for a home loan.
- Contract of sale. The contract of sale will have information about the following: the location of the property, the property type, the purchase price, the size of your deposit, the name of the agent of the vendor and the name of your solicitor.
These financial details need to be provided to complete a Fire Brigades Employees' Credit Union home loan application.
- Income. Two most recent payslips, Centrelink details (if applicable) or tax returns and profit and loss statements if you’re self employed.
- Employer’s information. Provide your employer’s name and contact details and your previous employer’s contact information if you’ve been in your current job for less than three years.
- Assets. Information about any bank accounts, personal assets, shares or other income generating assets. Verification of these assets is required too.
- Liabilities. Information about any loan payments, credit cards or any other financial commitments. You must provide recent statements for accounts like credit cards.