The Capricornian home loans

Consider the Capricornian as your home loan provider and give your banking a new direction.

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The Capricornian

The Capricornian is a non-bank lender that provides its members with a large list of personal and business loans, as well as banking, investing and insurance options. All profits that are made by the credit union are reinvested back into the company, leading to competitive fees, costs and further increasing customer benefit.

Awards that the Capricornian has earned

  • 2010 Money Magazine Silver Award for Best Term Deposit Short Term
  • 2009 Money Magazine Gold Award for Best Term Deposit Short Term
  • 2009 Money Magazine Silver Award for Best DIY Super Savings Account
  • 2008 Money Magazine Gold Award for Best Savings Account

Compare The Capricornian's home loans

Rates last updated November 21st, 2019
Loan purpose
Offset account
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Who is the Capricornian?

The Capricornian offers up a series of home loans with different interest types, product features and fee structures. The Capricornian has loans for first-time buyers, residential investors and borrowers who are looking to build a home. Besides basic home lending options, the Capricornian also has loan packages for buying property over 40 hectares in size.

Features of the Capricornian home loans include competitive fees, redraw facilities, offset facilities and flexible repayment structures.

Home loans offered by the Capricornian

Variable home loan

The Variable home loan is a loan with a fluctuating rate of interest which can be repaid weekly, fortnightly or monthly. Additional repayments are allowed and repayments can be made in principal and interest or interest-only, making this loan useful for construction if needed.

This loan comes with a redraw facility, allowing you to access your extra cash when needed. It also comes with a 100% offset account to help save on the interest payable. There are no application or top-up fees, or any break costs or early payout fees.

Fixed home loan

This loan is designed for owner-occupied residences or vacant residential land. The interest rate is fixed, and additional repayments are allowed up to a set limit. Repayments can be made on a weekly, fortnightly or monthly basis, and you can switch to the Fixed home loan from the Variable home loan for a fee.

There is no redraw facility with this loan, but it does come with an offset account. The offset account has a monthly fee, but there is no application or early payout fee. A break cost may apply if the loan is paid out during the fixed period.

Residential Investment loan - Variable or Fixed

The Residential Investment loan is available with a fixed or variable interest rate. You can switch between interest rates for a fee and an offset account is available as well. If you have the variable rate version you can have access to a redraw facility and construction financing options. Additional repayments are allowed for the variable rate option, and with a limit for the fixed rate version.

Non Eligible Residential Mortgage home loan — Variable or Fixed

These two types of loans are for owner-occupied or residential properties that are larger than 40 hectares. The interest rate on this type of loan can be fixed or variable, and you can switch between the two for a fee.

Extra repayments are allowed for both variable and fixed options, although the fixed rate loan has a maximum amount of additional repayments allowed. A redraw facility as well as a construction facility is available when this loan is set at a variable rate. There are no application fees or early payout fees associated with this loan type.

About how to compare home loans

Pros and cons of the Capricornian home loans


  • Loans for larger properties. The Non Eligible Residential Mortgage packages are great for borrowers who are trying to purchase a larger-than-normal property.
  • All loans switchable. Every loan offered under the home and residential investment category can be switched between a fixed and variable rate. However, be wary of the fee attached to this feature.
  • No application fees. The application fee is waived on all of the home loans offered by the Capricornian. This will let you put more money towards paying off your loan.


  • Break costs. If you pay out the balance on a loan while it is in a fixed interest rate period, you may have to pay a break fee.

How to apply for a the Capricornian home loan

To apply for a home loan from the Capricornian, please contact a mortgage broker.

About Mortgage Broker

Documents needed to apply for a home loan from the Capricornian

Personal information

The Capricornian will require you to provide proof of identification before approving your loan. This is a consumer protection step and is used to prevent fraudulent borrowing. You’ll need to provide;

  • 100 points of identification. You will need to provide the Capricornian with 100 points of identification, with one of the pieces of ID being photographic. A driver’s licence or passport will suffice.
  • Other forms of ID. You should consider using bank statements, citizenship documents, or a birth certificate as valid forms of ID.

Property information

There are some property-related documents that you need to submit to the Capricornian in order to be approved for a loan;

  • Contract of sale. The contract of sale outlines many of the details regarding the sale of the home. This includes the price that is being paid to the seller.
  • Certificate of title. The certificate of title shows the Capricornian that the seller of the property actually owns it and has the right to sell it.
  • Transfer of land. This document shows that the land itself will be transferred into your name after the sale.

Financial information

The Capricornian will need to be provided with documentation regarding your financial situation in order to gauge how much of a lending risk you pose. You’ll need to supply;

  • Details of your assets. You will need to provide documentation on any assets that you may have. This includes vehicles, real estate, savings and shares.
  • Proof of income. If you earn a wage or salary you need to provide two consecutive pay slips, a letter from your employer stating your income, and information on wage deposits into a transaction account over a three-month period. If you are self employed you need to provide personal tax returns.
  • Expenses and liabilities. Expenses and liabilities include credit card debt, loan debt, child support payments, utility bills and other outstanding bills that you owe.

The Capricornian offers a wide range of home loan options to prospective borrowers. Do plenty of research and seek expert advice to find a suitable loan for you.

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