Reduce Home Loans Home Owners Dream Fixed Review

The Reduce Home Loans Home Owners Dream Fixed offers a competitive fixed rate and no ongoing fees

The Reduce Home Loans Home Owners Dream Home Loan carries no ongoing fees, and allows you to lock in a rate for the security of knowing what your repayments will be.

This loan allows you to borrow up to $750,000 and 80% LVR.

Product NameReduce Home Loans Home Owners Dream Fixed Fee Free
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$750,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage 100% OffsetNo
Loan Redraw FacilityNo
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$440
Lender's Legal Fee$330
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$130


  • Fixed rate for 1 - 3 years
  • $0 ongoing fees


  • $440 application fee
  • $130 establishment fee

Who is Reduce Home Loans?

Reduce Home Loans is a licensed and regulated finance brokerage that sources home loans from a variety of Australian lenders. Because Reduce Home Loans is an online-only business, it has low overheads and can offer lower rates. And because it can source funding from a variety of Australian lenders, it can offer competitive products to borrowers.

Details to consider about the Home Owners Dream Fixed

The Reduce Home Loans Home Owners Dream Fixed is available to borrowers who are looking to refinance an existing loan or who want to purchase an owner-occupied home.

Features of the Home Owners Dream Fixed

  • Maximum loan amount. The maximum amount you can borrow with the Reduce Home Loans Home Owners Dream Fixed is $750,000. The minimum loan amount is $50,000.
  • Maximum LVR. This loan allows you to borrow up to 80% LVR, meaning you’ll need a 20% deposit or 20% equity. This means you’ll avoid paying lenders mortgage insurance (LMI).
  • Repayment flexibility. Fortnightly and monthly repayment schedules are available with this loan.
  • Additional repayment options. Additional repayments can be made towards your loan without incurring any fees. You can repay an additional $20,000 towards your loan each year.
  • Loan term. The maximum term available with the Reduce Home Loans Home Owners Dream Home Loan is 30 years.
  • Rate reduction. If you’ve recorded five years of good payment conduct on your loan account, you can apply to receive a discount off your interest rate.
  • Repayment methods. Principal and interest repayments on the Reduce Home Loans Home Owners Dream Home Loan can be made by direct debit or by crediting your salary directly into your loan account.


There are no ongoing annual or monthly fees with this loan. Reduce will also cover the valuation fee if it's under $440. There are some fees to be aware of, including:

  • Application fee: $440. This charge covers all the administrative costs associated with preparing your loan documents.
  • Settlement fee: $130. This fee is charged for the set up of all your loan documents and accounts.
  • Legal fee: $330. This fee is charged to complete the legals associated with your loan.

How to apply for the Home Owners Dream Fixed

If you’ve compared the features of the Home Owners Dream Home Loan with those of a number of other loans on the market and decided that this is the right borrowing solution for you, click the ‘Apply Now’ link on this page.

You’ll be securely redirected to an enquiry form on the Reduce Home Loans website. There, fill out your name, email, phone, postcode and any questions you may have before clicking ‘Send’.

A Reduce Home Loans representative will then be in touch with you within 1-2 business days to determine whether you’re eligible for this loan.

Eligibility and documents required for this loan

You’ll need to be an Australian resident, over 18 years of age and borrowing between $50,000 and $750,000 to qualify for this loan.

You’ll also need to provide the following during the application process:

  • Your address and full contact details
  • 100 points of identification, possibly including your driver’s licence and passport
  • Details of the property you are buying including the contract of sale, certificate of title and transfer of land documents
  • Details of your current employment situation and your income. PAYG borrowers can provide recent payslips as evidence of income while self-employed borrowers can supply recent tax assessment notices.
  • Details of any assets you own, such as shares or a vehicle.
  • Details of any liabilities you may have, such as credit card debt or other loans.
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Reduce Home Loans Home Owners Dream Fixed Fee Free

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $440 / $0

  • Max LVR


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