Finding Your Home Loan
Variable Home Loan
5.60% pa
Discount Rate
5.62% pa
Comparison rate
- Min 30% deposit
- Option to add an offset for 0.10%^
- No monthly or ongoing fees
- Unlimited redraws
Variable Home Loan
5.60% pa
Discount Rate
5.62% pa
Comparison rate
- Min 30% deposit
- Option to add an offset for 0.10%^
- No monthly or ongoing fees
- Unlimited redraws
Variable Home Loan
5.60% pa
Discount Rate
5.62% pa
Comparison rate
- Min 30% deposit
- Option to add an offset for 0.10%^
- No monthly or ongoing fees
- Unlimited redraws
Getting Started
Simply calls us or send us an email
Mobile 0428429463
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A home loan is a type of loan that is used to purchase or refinance a property. In Australia, there are many different types of home loans available to borrowers. Some of the most common types of home loans include variable rate loans, fixed rate loans, split rate loans, and interest-only loans.
Variable rate loans are the most popular type of home loan in Australia. They offer flexibility and can be adjusted to suit your needs. Fixed rate loans are another popular option. They offer certainty and stability as the interest rate is fixed for a set period of time.
Split rate loans are a combination of variable and fixed rate loans. They allow you to split your loan into two parts – one part with a fixed interest rate and the other part with a variable interest rate.
Interest-only loans are another type of home loan that is available in Australia. With an interest-only loan, you only pay the interest on the loan for a set period of time. This can be useful if you are looking to reduce your monthly repayments.
When applying for a home loan in Australia, there are many factors that lenders will take into consideration. These factors include your income, credit history, employment status, and the amount of deposit you have saved.
The Home Loan Process
The home loan process involves several steps. First, you need to apply for conditional pre-approval to search with confidence. Conditional pre-approval provides an estimate of how much you may be able to borrow based on your financial situation and credit history. Once you have found your property, you can apply for a home loan. You can apply anytime online, over the phone or in person with help from a home lending specialist1.
The process encompasses gathering information and documents from the borrower (the client), preparing the loan submission and submitting information and data to lender(s)2. After your application is approved, you’ll be responsible for the closing costs and down payment3.
It is important to prepare the following documents in advance: Payslips (at least two consecutive payslips not older than four), account statements (statements and transaction histories must contain account details and show your name and address), identification documents (such as passport or driver’s license), tax returns (if self-employed), rental income statements (if applicable)4
What information will i need to start the home loan
Home loan requirements can vary from lender to lender, but you can generally bet that they’ll need some key information: your personal details, details about the property, how much you need to borrow and your financial situation.
Applying for a home loan can be a lengthy process, but you can speed it up by knowing what you’ll need: A house deposit (at least 5%), a credit history (a good score will improve your chances), a stable income (the higher the better), a lack of debts, photo ID (driver’s license, passport etc.).
The minimum credit score required for a home loan can vary depending on the lender and the type of loan you’re applying for. Generally speaking, you’ll need a credit score of at least 620 in order to secure a loan to buy a house. That’s the minimum credit score requirement most lenders have for a conventional loan12. With that said, it’s still possible to get a loan with a lower credit score, including a score in the 500s1.