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Community Mutual Group Home Loans

The Community Mutual Group is the name of three New South Wales credit union brands that combined to form Australia’s largest inland credit union. The Community Mutual Group dates back to 1970 and is now responsible for managing assets worth just under $1 billion.

As a credit union the Community Mutual Group can reinvest its profits in the business passing benefits that include competitive rates directly to its 700,000 plus membership base. Community Mutual Group offers a range of every day banking products in addition to insurance, credit cards and home loans.

In 2013 Community Mutual Group won Money Magazine’s Socially Responsible Mutual of the Year Award.

Community Mutual Group Offset Loan

Community Mutual Group’s Offset Loan allows customers to use their savings to pay off their loan faster. Borrowers can choose between eight savings accounts with any savings offsetting interest charges. The Offset Loan is well-suited to low deposits and offers up to 90 per cent of a property’s value. Parents are able to sign as guarantors for additional security and investors, owner-occupiers and first home buyers are eligible. Community Mutual Group customers can benefit from unlimited additional repayments and free redraw facilities. They can also choose a variable rate or split between fixed and variable rates.

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Community Mutual Group Standard Variable Loan

Community Mutual Group’s Standard Variable Loan is also known as the Redi-Draw Home Loan. It lets customers pay off as much of their interest as they can afford with unlimited additional repayments. Customers can also enjoy free redraw facilities and a flexible repayment schedule. The Standard Variable Loan from Community Mutual Group is great for those with low deposits and lends up to 95 per cent of a property’s value. Approval can take as little as 48-hours and owner-occupiers, investors and first home buyers are eligible to apply.

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Community Mutual Group First Home Buyer Loan

The First Home Loan from Community Mutual Group is a package that offers a low variable interest rate for the introductory period. This home loan also includes fee-waivers across numerous Community Mutual Group products and comes with a credit card facility. Open to investors, owner-occupiers and first home buyers the First Home Loan offers up to 95 per cent of a property’s value. Borrowers can also protect their loan by leveraging the equity in their parents’ property for additional security. Free redraw is available to First Home Loan customers along with the ability to make an unlimited number of additional repayments. This Community Mutual Group mortgage also gives customers the flexibility to make their repayments at a time that suits them be it monthly, fortnightly or weekly.

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Community Mutual Group Partnership Advantage Loan

The Partnership Advantage Loan from Community Mutual Group gives customers more control over their loan due to the choice between variable or fixed rates for up to five years. This mortgage has many benefits including fee-waivers on the home loan approval, valuation and ongoing account charges. Discounts can also be enjoyed on interest rates and a range of insurance and credit products. While there is no redraw or offset facilities customers with low deposits can borrow a maximum of 95 per cent of a property’s value for up to 30 years. Open to first home buyers and owner-occupiers this Community Mutual Group loan also lets parents act as guarantors.

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Community Mutual Group Mortgage Secured Overdraft Loan

The Mortgage Secured Overdraft is Community Mutual Group’s all-in-one home loan and transaction account that lets customers reduce their interest as they repay their home loan. Community Mutual Group’s Mortgage Secured Overdraft is available to investors and owner-occupiers with loan terms ranging from one to 30 years. For added security customers have the option of signing their parents as guarantors and can enjoy a flexible repayment schedule to suit their lifestyle.

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Community Mutual Group Basic Home Loan

Community Mutual Group’s Basic Home Loan is geared towards first home buyers and those with low deposits offering up to 95 per cent of a property’s value. Customers also have the option of securing their loan against the equity in their parents’ property. While loan terms are available for a duration of one to 30 years repayment terms are flexible and customers can make unlimited additional repayments if they wish. Customers can also choose between a weekly, fortnightly or monthly repayment schedule depending on their needs. The Basic Home Loan from Community Mutual Group offers low interest rates and free redraw however offset facilities are unavailable.

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Community Mutual Group Steady Rate Loan

The Steady Rate Loan helps Community Mutual Group customers insulate themselves from rising interest rates for a fixed term of one, two, three or five years. After this period customers can re-fix their home loan rate or revert to the Standard Variable Loan. This Community Mutual Group product is suitable for all buyers – investors, first home buyers and owner-occupiers. Low deposits are welcome and parents can sign as guarantors to secure the home loan. It’s worth noting that Steady Rate Loan customers won’t be able to make any additional repayments and redraw and offset facilities are unavailable.

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Home Loans from Community Mutual Group

Product
Advertised Rate
Comparison Rate
Monthly Repayment
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Advertised Rate3.99%Intro 36 months
Comparison Rate4.43%
Monthly Repayment$1256over 30 years
Details
Advertised Rate4.48%Variable
Comparison Rate4.64%
Monthly Repayment$1288over 30 years
Details
Advertised Rate4.19%Fixed - 3 years
Comparison Rate5.05%
Monthly Repayment$1350over 30 years
Details
Advertised Rate3.89%Fixed - 2 years
Comparison Rate5.09%
Monthly Repayment$1356over 30 years
Details
Advertised Rate4.29%Fixed - 3 years
Comparison Rate5.10%
Monthly Repayment$1357over 30 years
Details
Advertised Rate3.99%Fixed - 2 years
Comparison Rate5.13%
Monthly Repayment$1362over 30 years
Details
Advertised Rate3.89%Fixed - 1 year
Comparison Rate5.14%
Monthly Repayment$1364over 30 years
Details
Advertised Rate4.79%Fixed - 5 years
Comparison Rate5.15%
Monthly Repayment$1365over 30 years
Details
Advertised Rate4.69%Fixed - 5 years
Comparison Rate5.17%
Monthly Repayment$1368over 30 years
Details
Advertised Rate4.89%Fixed - 5 years
Comparison Rate5.22%
Monthly Repayment$1376over 30 years
Details
Advertised Rate4.99%Fixed - 5 years
Comparison Rate5.23%
Monthly Repayment$1377over 30 years
Details
Advertised Rate3.99%Fixed - 1 year
Comparison Rate5.25%
Monthly Repayment$1381over 30 years
Details
Advertised Rate4.84%Fixed - 3 years
Comparison Rate5.25%
Monthly Repayment$1381over 30 years
Details
Advertised Rate4.74%Fixed - 3 years
Comparison Rate5.25%
Monthly Repayment$1381over 30 years
Details
Advertised Rate4.79%Fixed - 2 years
Comparison Rate5.28%
Monthly Repayment$1385over 30 years
Details
Advertised Rate4.69%Fixed - 2 years
Comparison Rate5.30%
Monthly Repayment$1388over 30 years
Details
Advertised Rate4.69%Fixed - 1 year
Comparison Rate5.32%
Monthly Repayment$1391over 30 years
Details
Advertised Rate4.59%Fixed - 1 year
Comparison Rate5.35%
Monthly Repayment$1396over 30 years
Details
Advertised Rate5.34%Variable
Comparison Rate5.38%
Monthly Repayment$1401over 30 years
Details
Advertised Rate5.34%Variable
Comparison Rate5.38%
Monthly Repayment$1401over 30 years
Details
Advertised Rate4.49%Intro 12 months
Comparison Rate5.46%
Monthly Repayment$1413over 30 years
Details
Pros
  • Package deals available to bundle other financial products.
  • Suitable for low deposits.
  • Range of home loans to choose from.
  • Flexible repayment schedule with weekly, fortnightly or monthly repayment options.
  • Parents can act as guarantors.
Cons
  • Some products include numerous fees.
  • Lack of branches.
  • Limited offset availability.
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Customer Service

Home loan customers can contact Community Mutual Group by visiting one of the 25 plus branches located in New South Wales. Customers further a field can call Community Mutual Group’s customer service centre for assistance on a range of topics including funds transfers and home loan applications.

Customers can also get in touch via email or alternatively they can access their account facilities 24-hours a day through internet banking and the Community Mutual Group mobile app. Customers can access their funds Australia-wide through Westpac’s network of over 3000 ATMs. 

Customer service centre (phone)

Mobile app

Online banking

Email

Branch

Applying and Eligibility

Community Mutual Group home loan applications can be made online via the company website, or by calling the customer service support centre. Depending on the type of loan customers apply for, approval can be received in as little as 48-hours.

Before Community Mutual Group customers commit to a home loan application it is advisable they think about how much they can afford to borrow based on their income and outgoings.

To aid their application Community Mutual Group home loan customers will be required to provide supporting documents that may include:

  • Personal identification.
  • Personal income details.
  • Details of current debts and assets.
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