A 100% online, award-winning, Australian-owned brand offering competitive home loans
loans.com.au is an online brand that aims to offer a range of competitive loans that are designed to help make life easier. Their mission is to become the leading online lender in the Australian financial space.
Who is loans.com.au?
loans.com.au is an Australian-owned online lender based in Brisbane. The company doesn't have any branches or overheads, so it can pass savings on to you in the form of more competitive interest rates.
Loans.com.au customers is underwritten by Firstmac, one of the largest financial services organisations in Australia, is a full member of the Mortgage & Finance Association of Australia (MFAA), and has a 'strong' rating (the best possible) from Standard & Poor's for their loan serviceability abilities.
Comparison of loans.com.au home loans
What types of home loans are offered by loans.com.au?
The loans.com.au Essentials Home Loan is a no-frills home loan that carries a competitive rate, and still has features like a redraw facility and extra repayment options.
This loan has a competitive interest rate, allows you to borrow up to 90% of your property's value and carries no application fee, no monthly fees and no ongoing fees. An offset account is available with this home loan, along with unlimited free redraws with no minimum redraw amount. With online access, you can also check on your home loan 24/7. You'll also get a linked Visa Debit Card with your offset account to access to your funds.
Fixed rate - 1, 2 or 3 years
If you prefer the certainty of a fixed rate, you may want to consider this loan instead. You have the opportunity to lock in your interest rate for a period of up to 60 days after application. After the fixed term, the loan will revert to the standard variable home loan. You can choose to fix again if you wish. You can choose between weekly, fortnightly or monthly repayments, and there is a five year interest-only option available. This loan has up to five free splits as well as a portability feature.
More about loans.com.au Fixed Home Loan
Construction loan - variable rate
If you're planning to build a new property or renovate your existing one, this loan could be suitable. It is designed for borrowers who have bought land and are looking to start building, or borrowers who are looking at making extensive renovations. Before you apply for this loan, you need to have finalised the purchase of your land, chosen a licensed contractor, have building plans and a copy of the building contract. The contract will need to be a fixed price contract, so the cost of each stage has already been determined.
How do I apply for a loan from loans.com.au?
If you would like to apply for a home loan from loans.com.au, please click 'go to site' to be safely redirected to the enquiry page. You'll need to enter some information about your home loans needs, and a loans.com.au mortgage consultant will get in touch with you. Once you've filled in your online application, loans.com.au can generally give you preliminary approval within 48 hours. After your loan has received its final approval, loan contracts will be sent to you for you to sign. This could include a discharge document from your current lender if you are refinancing.
What information would I need to provide?
- How much you'd like to borrow, the property value, the loan purpose, number of borrowers
- Information about your income: Annual salary before tax, any other income streams
- Information about your expenses: Your existing repayments, other loans, your current credit card limits
Yes, loans.com.au home loans come with split rate options, with the Dream Home Loan allowing up to five free splits. This allows you to make the most of both fixed and variable rates.