Essentials Home Loan
Finding the right home loan to suit your needs can often feel overwhelming. Essentials Home Loans is designed to turn your homeownership dreams into a reality.
Our Essential Home loan range is designed to adapt to your changing needs and circumstances, whether you’re:
- a first home buyer
- an investor
- a self-employed borrower with limited financials
- a borrower with an impacted credit rating
- looking to refinance
- looking to renovate
Resi Essentials home loans are simple, flexible and easy to understand loans with great features to make your home loan as straightforward as it can be.
Target Market Determination
- Flexible loan purposes
- Borrow up to 95% of the property value*
- Monthly Lenders Mortgage Insurance payment option*
- Alternative income documentation options available
- Minor credit history issues considered
- Debt Consolidation
- Competitive variable rates (no ongoing account keeping fees)
- * Available on Prime full doc only
More loan features
- Flexible repayment frequency e.g. weekly, fortnightly, monthly
- Option to make additional repayments/capital reduction
- Optional linked 100% offset account available on each loan split
- Online loan access available via mobile devices
- Redraw available
Get your dreams off the ground...
Buying a home is more than a milestone – it’s the great Aussie dream. Whether you’re a first time buyer or a seasoned property investor, we’ll help you make it a reality.
What is Mortgage Insurance and do I need it?
Lenders Mortgage Insurance (LMI) is insurance that a lender takes out to insure itself against the risk of not recovering the outstanding loan balance if you, the borrower, are unable to meet your loan payments and the property is sold for less than the outstanding loan balance. LMI may be required if your home loan deposit is less than 20% of your property's 'lender-assessed value'.
What is an LVR?
The Loan-to-Value Ratio (LVR) is the amount you're borrowing, represented as a percentage of the value of the property you’re buying. The bigger your deposit, the lower the LVR will be.
What is a risk fee?
A risk fee is a one-off fee that's designed to protect the lender in the case of applications that are higher risk. Your application might be considered high risk because you don't have enough documentation to prove your income, or you have a low credit score.
What is a comparison rate?
A comparison rate includes the interest rate as well as certain fees and charges relating to a loan. The aim of the comparison rate is to help you identify the true cost of a loan and compare loans and services offered by financial institutions and mortgage providers.