loans.com.au is an online Australian lender offering home and car loans. Check out the full table of loans.com.au products below or read more about the lender and its loans.
Compare loans.com.au home loans for August 2021
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "more info".
loans.com.au key facts
- loans.com.au's most competitive home loan rates are lower than the market average. loans.com.au offers fixed and variable rate loans for investors and owner-occupiers.
- loans.com.au is an online lender. The lender has phone and email support for customers and applicants.
- You can get some loans.com.au loans with a deposit as low as 10%, while many require a standard 20% deposit.
- The lender has some unique loans for borrowers in specific circumstances, such as its Green Home Loan for energy efficient homes, and loans tailored for investors who also have owner-occupier mortgages.
Review by our senior home loans writer Richard Whitten
Here are the key features and details you need to know about loans.com.au's mortgage products.
|Minimum deposit||Most loans.com.au loans have 80% maximum LVRs. This means you can borrow up to 80% of the property's value. But some of its loans are available with just 10% deposits.|
|Offset account||You can get an offset sub account on some loans.com.au mortgages.|
|Repayment options||Most loans.com.au's home loans allow you to make interest-only repayments or principal-and-interest repayments.|
|Split rate||Most loans.com.au mortgages allow you to split your loan into fixed and variable portions.|
To make sure you find the right loans.com.au loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
- Are you comfortable applying online? Because loans.com.au is an online lender you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
- What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan rate. loans.com.au has both.
- Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a specified period so you can forget about rate changes at all?
- What features do you need? loans.com.au home loans have flexible repayment options but not all of its loans have offset accounts.
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Each loans.com.au product has specific eligibility criteria but some will apply to all products. For example:
- Age. You must be over 18 years of age.
- Residency. You should be a resident of Australia.
- Employment. You should have a regular source of income.
When you apply for a mortgage with loans.com.au you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details: You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's license, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
How to apply for a home loan
Are smaller banks and lenders trustworthy?
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry about going with a smaller lender.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC). As a lender, loans.com.au must comply with the National Consumer Credit Protection Act.
If you want to compare loans from similar lenders to loans.com.au then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
- Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
- Tic:Toc. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
- Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
- ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
- ING. This online bank is part of the global, Dutch-based financial group of the same name.
- UBank. This online bank is actually owned by NAB.
Looking for more mortgage options?