Home loans for those who prefer to research and organise online.
Online Home Loans caters to borrowers who don’t want to have to walk into a physical bank branch to get a home loan, and makes it easy to get finance by being available for a chat over email, live chat, through its Facebook page or over the phone.
Online Home Loans co-founder Murray Lees is one of the original founders of Connective, a leading Australian mortgage aggregators. Today 1 in 10 home loans are written by a mortgage broker from Connective.
Online Home Loans offers a range of home loans funded through Resimac, including fixed and variable rate loans for both owner occupiers and investors. Read on to compare its home loans and find out more about the company.
What home loans does Online Home Loans offer?
The Standard Home Loan is a variable rate loan. It is a full documentation home loan, so you’ll need to supply payslips and all other supporting information. It has a high maximum LVR of 95%, so you’ll only need a 5% deposit. It also comes with a 100% offset account, so you can save on interest costs and pay your loan off earlier.
The Horizon Home Loan has the option of a competitive variable rate or a three year fixed rate. The variable rate variant of this loan has a 100% offset account and allows extra repayments.
If you opt for the three year fixed rate variant you can also pay for the Rate Lock feature which allows you to lock in the rate at the time of application to ensure it won’t change between application and settlement.
Both variants of this loan carry an annual fee of $299, and you can split the loan into multiple portions to take advantage of the different rate options.
What other services does Online Home Loans offer?
Online Home Loans also offers a mortgage broking service. A mortgage broker can help evaluate your requirements and then sort through home loans from many different lenders, including the big four banks and smaller lenders. They’ll then recommend the best home loans for you. Because mortgage brokers earn a commission from the lender that you choose, you pay no fee for this service.
How to apply for a loan from Online Home Loans
If you’re interested in any of Online Home Loans’ products, you can find out more or start the application process by clicking the green "Go to site" button in the table above. This will securely take you to the Online Home Loans website. From here you can organise a callback to talk through your options with a specialist.