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 aggregator. 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.
Online Home Loan Offer
Online Home Loans Standard Variable - Owner occupier
variable rate
comparison rate
Online Home Loan Offer
Online Home Loan Standard Variable home loan offers a low-interest rate with 100% offset account. Borrow up to 95% p.a. of your home loan value.
- Interest rate of 3.64% p.a.
- Comparison rate of 3.65% p.a.
- Application fee of $275
- Maximum LVR: 95%
- Minimum borrowing: $50,000
- Max borrowing: $1,500,000
What home loans does Online Home Loans offer?
Standard
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.
Horizon
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.
Find out more about Online Home Loans’ broking service in our review
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.
Have property worth around 500,000. want to build again and get a loan for 430.000 to build then sell the other property and put the money from it on the other loan. can this be done.
Hello julee,
As a friendly reminder, please note that finder is an Australian comparison website and general information service.
While we do not represent any company we feature on our pages, we can offer you general advice.
To answer your question above, yes, that may be done.
You may also want to view this page for a list of mortgage brokers as well as a comparison table to guide you in making an informed decision.
Hope this helped.
Cheers,
Gru