Westpac Rocket Investment Home Loan

If you are looking for a home loan for an investment property then you may want to consider the Westpac Rocket Investment loan

This variable home loan has a large range of features that include interest-only, redraw and offset account. Suitable for investors, you can also choose to combine this home loan under the Premier Advantage Package and receive a discount off the standard variable interest rate.

Interest Rate Max Insured LVR Max LVR
Interest Only
6.3% p.a.
Comparison Rate
6.43% p.a.
95% 80%
Principal and Interest
5.79% p.a.
Comparison Rate
5.93% p.a.
95% 80%
Product NameWestpac Rocket Investment Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$25,000
Maximum Loan Amount$20,000,000
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$8 monthly ($96 p.a.)
Settlement Fee$0
Discharge Fee$350


  • You can link a 100% offset account to this loan
  • You can make additional payments without penalty, and access to those funds is available via the redraw facility
  • A Low Doc option is available for this loan type


  • There is a $600 application fee
  • An $8 monthly account fee applies
  • A discharge fee of $350 applies when you close your home loan account

Things to consider about the Westpac Rocket Investment Home Loan

This loan is suitable for investors and can be used as a construction option. This loan can be a high-doc and low-doc home loan. If you have your own business and currently don’t have documented income then you can use the low doc version of the Westpac rocket investment home loan.

To apply for the low doc version you will need the following;

  • A signed borrower’s income declaration.
  • Your registered business name.
  • Your Australian business number (ABN).
  • Your Business Activity Statement (BAS) for the last twelve months.

If you choose to combine your Rocket investment loan into a Premier Advantage Package, you may be eligible for the following benefits:

  • No monthly account keeping fee on your home loan.
  • No establishment fee on your home loan.
  • A Westpac credit card with no annual fee.
  • Discount on a range of Westpac insurance products.
  • A discount of up to 0.7% off the standard variable interest rate for as long as you have the advantage package.

Westpac Rocket Investment Home Loan features

The Westpac Rocket Investment Home Loan offers the investor a wide range of options that are listed below. These options help give the borrower flexibility and maximum return on their investment, including;

  • 100% offset account. This option gives you the chance to reduce the interest that’s charged on your home loan. This works by using any savings that you may have to offset any interest that’s charged on your home loan.
  • Interest-only option. With a Westpac Rocket Investment Home Loan you have the option of having to pay just the interest portion of your home loan repayments for up to 15 years. This means that you can free up some extra money that can be used for other investments.
  • Redraw facility. If you have a Westpac Rocket Investment Home Loan you have access to any of the extra repayments that you may have made on the home loan. This can be useful if you have some extra money you can use for your investment strategy.
  • Parental leave. Having a baby can be a stressful and expensive time, so Westpac offers the parental leave option on their Rocket investment loan. This means that if approved by the bank you're able to reduce your home loan repayments by up to 50% for up to six months but you will have to have had your investment loan for longer than 18 months.
  • Construction option. As mentioned above if you're thinking of building your new investment property because you have been unable to find an established property then you can use the drawdown option that’s provided by Westpac to pay the progress payments to your builder or subcontractors. Using the drawdown option means that you only paying interest on the balance that you have drawn on.
  • Advantage package. You're able to combine your Westpac rocket investment loan to a Westpac advantage package this package offers the investor a full banking package, with a $600 annual fee and a range of extra features that will help save money.
  • Top-up facility. You can increase your home loan amount if you need the extra funds. This feature allows you extend the credit limit on your existing loan.


Fees you can avoid

  • Redraw fee $0. When you want to access your additional repayments you don’t need to pay a fee for this.
  • Lender’s mortgage insurance (LMI). LMI is an insurance premium that is payable if your loan-to-value ratio is 80% or more for a high-doc home loan or 60% LVR for low-doc loans. LMI protects the lender, not the borrower in the case that the borrower defaults on their loan.

Fees you can’t avoid

  • Loan maintenance fee $8 per month. This is paid to maintain the account linked to your Rocket Investment home loan.
  • Loan establishment fee $600. This fee covers the cost of setting up your mortgage.

How to apply for the Westpac Rocket Investment loan

If you’d like to apply for the Westpac Rocket Investment home loan or would like more information, please click "enquire" and you’ll be safely redirected to the Westpac enquiry page. Fill out the enquiry page and a Westpac home loan expert will contact you. You will need the following information during the application process to help speed your application:

  • Your financial information and details.
  • The property’s contract of sale.
  • If you're a PAYG employee, your two most recent payslips and payment summary or tax return.
  • If self-employed, your business tax returns for the last two years, as well as personal tax returns.
  • Your property details and loan statements for the past six months if you’re refinancing.
  • Your plans, specifications, builder's contract and council approvals if you’re opting for the construction option.

If you have any questions about this loan, you can use our live chat service. Alternatively, you can leave a question by clicking ask a question.

Enquire about this home loan
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Westpac Rocket Investment Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $600 / $8

  • Max LVR


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