Your guide to home loan products available from Pacific Mortgage Group (PMG).
Awards that Pacific Mortgage Group has earned
- Cheapest Home Loan winner, 2013. Money Magazine Awards
- Cheapest Flexible Home Loan winner, 2012. Money Magazine Awards
- Cheapest Home Loan winner, 2012. Money Magazine Awards
Compare Pacific Mortgage Group (PMG) home loans
Who is Pacific Mortgage Group?
Since beginning operations in 2000, Pacific Mortgage Group has gone on to become one of Australia’s leading online home loan providers. Since this non-bank lending organisation specialises in home loans, you can expect a range of loan options to choose from.
Pacific Mortgage Group provides home loans for diverse scenarios ranging from purchasing and refinancing to construction and renovation. In addition, you can find variable and fixed rate loans, interest-only and principal and interest loans, lo-doc loans, commercial and development funding, as well as lines of credit.
Home loans offered by Pacific Mortgage Group
Standard variable home loan
This loan is suitable if you wish to purchase a home to live in, if you want to buy an investment property, if you are looking at refinancing your existing mortgage, or if you are looking at debt consolidation options.
This loan does not attract any application, valuation, settlement, monthly or annual fees. It allows unlimited extra repayments, unlimited redraws, interest-only and principal and interest payments, along with repayment flexibility. It allows direct debit and direct salary crediting, and you can access your funds through a debit card, BPAY, ATM, EFTPOS and online or phone banking.
The Standard Variable Home Loan
Fixed home loans - 2, 3, and 5 years
These loans are suitable for first home buyers, investors, refinancers and those looking to consolidate debt. They’re also ideal if you do not want to worry about market fluctuations for a given period so you can organise your budget for the fixed period.
This loan does not attract any application, valuation, settlement, monthly or annual fees. It allows direct debit and salary credit, offers repayment flexibility and comes with interest-only and principal and interest options.
Line of credit home loan
This loan comes with features that give you the ability to pay off your loan sooner by minimising the interest you pay. It suits home buyers and investors alike and you can apply for it if you wish to consolidate your debts or refinance an existing mortgage.
This loan allows unlimited redraws, direct debit and salary crediting. You can access funds through a cheque book in addition to a debit card, BPAY and phone or online banking. It allows interest-only and principal and interest payments, along with a repayment flexibility that lets you make payments on a monthly, fortnightly or weekly basis.
Construction home Loan
This insured Construction home loan is ideal for anyone looking at constructing a home or unit. One of its features is that it does not attract any application, valuation, settlement, monthly or annual fees.
This loan gives flexible repayment alternatives, offers unlimited redraws, and allows salary crediting and direct debit. Interest-only and principal and interest payments are also allowed.
Standard lo-doc home loan
You can apply for this loan only if you are self-employed. The Standard Lo-Doc Home Loan has features similar to the Standard Home Loan, but with different requirements for borrowers to demonstrate their income.
It comes with flexible repayment alternatives, offers unlimited redraws, allows direct debit and salary credit, and does not attract any application, valuation, settlement, monthly or annual fees.
About how to compare home loans
Pros and cons of Pacific Mortgage Group home loans
Pros
- No fees for standard procedures. If you look at the fee structure that accompanies Pacific Mortgage Group’s home loans you will notice that none of its loans attract any application, valuation, settlement, monthly or annual fees.
- Repayment alternatives. When you take a Pacific Mortgage Group home loan you do not have to stick to making monthly payments. All Pacific Mortgage Group home loans give you the option to make weekly, fortnightly or monthly payments.
- Backed by rewards. Pacific Mortgage Group’s home loans have received more than 25 awards.
Cons
- No branches. Since this is an online home loan provider, its customers have to deal with the absence of branches. For people who like to deal person-to-person, this is a may be a drawback.
- No offset accounts. None of Pacific Mortgage Group’s home loans come with offset accounts.
How to apply for a Pacific Mortgage Group home loan
If you’d like to apply for a home loan from Pacific Mortgage Group, please contact a mortgage broker. A mortgage broker can help you with your home loan application all the way to settlement.
Documents needed to apply for a Pacific Mortgage Group home loan
Personal information
When you apply for a home loan you have to submit personal information that the lender uses to ascertain your identity. Documents you will have to submit include:
- A valid Australian driver’s licence
- A valid Australian passport
- A valid Medicare card
Property information
Pacific Mortgage Group, just like other lenders, also requires property-related information to establish ownership. including:
- Contract of sale (for purchases)
- Land rates notice (for refinancing)
- Certificate of title
Financial information
Financial information you will have to submit includes:
- A list of assets, such as property, vehicles, savings, investments and any other items of value
- A list of liabilities, such as lease agreements, personal loans, car loans and credit cards
- Your annual earnings (from all sources)
- Your expenses
Pacific Mortgage Group offers a range of options worth considering for potential borrowers. When shopping for a home loan, make sure to compare products on the market and seek professional advice from a mortgage broker to get the best possible product for your situation.
