RESIMAC offers a wide range of competitive home loans that can help you finance your next property purchase.
RESIMAC Platinum (RESIMAC), formerly known as Finloan, is the lending arm of RESIMAC Financial Services. RESIMAC Platinum offers financial services exclusively through Finsure and LoanKit Finance Brokers, and currently manages more than 15,000 loans.
RESIMAC obtains funding through a securitisation program coupled with support from major banks such as National Australia Bank (NAB), Westpac Banking Corporation and Commonwealth Bank. As a publicly unlisted company with an operational corporate governance regime, RESIMAC was the first non-bank issuer to hold an Australian Financial Services License.
Finloan has now been rebranded as RESIMAC Platinum, with the backing of RESIMAC Financial Services.
Home loans offered by RESIMAC Platinum
SMSF home loan
The Self Managed Super Funds (SMSF) Loan is tailor-made for SMSFs wanting to borrow money for the purchase of a residential property. It offers interest-only repayments for up to 10 years and a split loan facility, and carries no application, monthly or annual fees.
Premium Home Loan
The Premium Loan is a discounted home loan ideal for buying a home or an investment property. It is designed for borrowers who are self-employed and PAYG borrowers. It offers an ongoing competitive interest rate with an annual fee, a Loan Access Card for accessing the available redraw, split loan facilities and dynamic repayment options.
Standard Home Loan
This is a fully-featured home loan suited for purchasing a home or an investment property. The Standard Home Loan is designed for PAYG and self-employed customers. The loan offers interest-only repayments for up to 10 years, a competitive interest rate with no ongoing fees, and offset and split loan facilities.
Quickstart Home Loan
If you lack genuine savings to contribute to a loan, the Quickstart Loan is designed for customers who are unable to contribute 5% genuine savings towards the deposit of their home loan, particularly first home buyers. Some of its attractive features include dynamic repayment options, split loan facilities, redraw facilities, an offset account and a Loan Access Card.
Alt Doc Home Loan
This loan is specifically designed for self-employed borrowers who cannot provide current financials to authenticate their income declaration. It has dynamic repayment options, split loan facilities, redraw facilities and a Loan Access Card. There is the option for borrowing under 80% LVR or above 80% LVR, with alternate interest rates for each option but the same features.
Specialist Full Doc Home Loan
This is a full documentation loan suited for customers with adverse credit or larger sized loan amounts. You can opt for this loan if you want funding for any personal, business or investment purpose.
Specialist Alt Doc Home Loan
The Alt Doc Home Loan is designed for borrowers who are self-employed and can provide an accountant’s letter or BAS to substantiate their income declaration. It has redraw facilities, offset, split loan facilities and refinance options.
You can have a clear or adverse credit history but must be able to provide three months of business bank statements to be eligible for this loan. This loan is split into Plus, Assist and Clear home loans that offer various features that are suitable for self-employed borrowers.
How to apply for a RESIMAC Platinum Home Loan?
If you’d like to apply for a home loan from RESIMAC, please speak to a mortgage broker or contact RESIMAC directly.
What do you need when you apply?
RESIMAC will require you to provide some personal information that can help to prove your identity. This documentation is required by law and must be provided before your home loan can be finalised.
- Tax File Number. RESIMAC will need your Tax File Number (TFN) on hand to include on the loan paperwork.
- Proof of Identification. You will be required to give RESIMAC the proper identification to meet the 100-point threshold in order to have your loan processed.
You will also need to provide several pieces of documentation pertaining to the purchase of your home. Each home loan may require different documentation, so be sure to talk with your agent to see what your specific requirements are. However, here is a list of the most common property documentation required:
- Property valuation. When you obtain a loan from RESIMAC, a proper assessment will need to be done on the property to determine its true value. This will ensure that the loan you are obtaining is equal to the value of the home being purchased.
- Proof of title for property. RESIMAC will need to obtain a copy of the title for the property being purchased. This will guarantee that the party selling you the property is the actual owner of the property and has the rights to sell it.
- Property sales contract. Before closing on your loan, RESIMAC will need to have a copy of the sales contract for the property. This will provide all the details about the sale of the property.
Although you will provide RESIMAC with your financial information at the initial stages of the application, you will also need to provide proof of that information. RESIMAC will ask for detailed information about your earnings, assets and expenses. You’ll need to provide:
- Proof of earnings. You must provide documentation that can prove your annual earnings. If you earn a wage, copies of your payslips should be adequate. If you are self-employed, however, you may need to submit copies of your tax returns.
- Documentation for outstanding debt. If you have any outstanding debt that you listed on your home loan application, you will need to provide RESIMAC with a copy of the latest statement for those accounts.
- Proof of assets. RESIMAC will need documents that can prove the value of any additional assets or income that you disclosed on your initial home loan application.
Always make sure to seek expert advice and compare your options so you find the best loan available for your needs.