Resi Home Loans
Find a flexible loan from Resi and pay it off the way you like.
Resi, or Resi Mortgage Corporation, has been serving Australians for the last 25 years as a non-banking lender of flexible mortgage products.
Resi home loans are designed to offer options and flexibility that can save borrowers money with their new home or investment purchase. By allowing a home buyer to choose the terms that work best for them, borrowers can maximise the benefits of the features being offered.
Awards that Resi has earned
- Best Non-Bank Lender. Won at the Australian Lending Awards for product and service innovation in 2012.
- Best Thought Leader. Awarded at the Australian Lending Awards in 2011 for the leadership demonstrated by Resi.
- Non-Bank Lender of the Year. This award was given to Resi in 2006 by Money Magazine for the lending practices demonstrated by Resi.
Resi home loans comparison
Who is Resi?
Resi is an Australian non-bank lender founded by Peter James and Jim Christie. Since then, they have helped thousands of Australians achieve the dream of home ownership by offering loan products that offer maximum flexibility. You can apply for any of their products online, or discuss a home loan with a Resi mortgage expert in one of their branches.
With a Resi home loan you are offered a variety of ways to customise your home loan, such as utilising split rates so you may be able to benefit from the best of both worlds. This could also be suitable for first home buyers, as a fixed rate gives you some stability in your repayments which can help you get into the groove of paying off a mortgage.
Home loans provided by Resi
Flexi Options home loan
The Flexi Options home loan is a fully equipped mortgage that includes a 100% offset account and a redraw facility. This loan comes with the choice of a variable rate or fixed rate terms. In addition to investors and homebuyers, this loan is also available to overseas borrowers.
With this loan, you can choose when you make your repayments. You also have the choice of making interest-only repayments for up to ten years if you want to free up your cash flow, though this feature is often used by investors.
Smart Pro home loan
The Smart Pro Home Loan can be used by an owner occupier or an investor, but the unique structure makes it more suitable to a borrower who's purchasing a property with a large assessed valuation. Here you are rewarded with a substantial break in the variable interest rate when you borrow more money and have a lower LVR.
This is a full doc home loan that only an applicant who can provide full income verification will be able to qualify for.
Pros and cons
Almost all of the home loans offered by Resi allow you to mix and match options to best suit your circumstances.
- Competitive interest rates. Resi makes certain that the interest rate applied is comparable to other home loan lenders offering the same level of product.
- Availability. There are home loans available for most type of borrower, including owner occupants, investors and even overseas borrowers.
- Flexibility in repayments. There are a range of repayment options, both in the frequency in which you make them and the opportunity to make interest-only and extra repayments.
- Generous loan amounts of up to $2 million. Although this will depend in part on your own financial situation, many Resi home loans are offered with a large maximum loan amount of $2 million.
- 100% Offset. There are not many Resi home loans available that offer this money saving option.
- Fees. While some of the loans available from Resi waive establishment fees, the valuation and legal fees payable by the borrower are still present for many.
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How to apply for a Resi home loan
If you would like to apply for a home loan from Resi, compare the loans in the table above to be safely redirected to the enquiry page.
Once the online form has been submitted, a Resi loan specialist with be in contact with you to discuss your home loan needs and applications.
Documents needed to apply for a Resi home loan
Not only is personal information needed as contact information, it will also be important in helping verify your identity:
- Driver’s licence. The number on a valid Australian driver’s licence will be important for the lender to help verify your identity.
- Other ID. In lieu of a driver’s licence you could use a passport or non-driver ID.
Resi is going to want to know about the property that you are using for the home loan. You will need the following documents:
- Contract of sale. The contract of sale gives Resi the details of the amount that is to be paid for the property. It will also have important information about the property itself. Your agent will be able to provide this to you.
- Copy of certificate of title. A certificate of title is an important document that shows that the seller has the legal right to the property and is authorised to sell it.
- Copy of transfer of land. This document is used to show that the title for the property is being transferred to the borrower.
Resi will use your financial information to make sure that you are capable of making repayments. This will have a large effect on the amount of money you are able to borrow. Expect to provide the following information:
- Income. When providing your income information, remember to have your pre-tax and taxed amounts available. Also include any other income you receive. This could include rent payments, investment income or dividends.
- Assets. Your assets include any other property you own plus other items of value. This includes vehicles, saving accounts and investment accounts.
- Liabilities. Liabilities include any other outstanding debts you may have. This includes loans, credit cards and overdraw accounts.
Before making any decisions about a Resi or any other lending institution make sure that you understand the features offered and how they can help or hurt you. Compare these features, along with rates and fees, when comparing the different home loans available for you.
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