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Horizon Credit Union Home Loans

Horizon Credit Union is an Australian member-owned credit union and was founded in 1964 as the Illawarra County Council Staff Credit Union. It was renamed the Horizon Credit Union in 1995 following the takeover of the Shoalhaven City Employees’ Credit Union.

Horizon is based in Wollongong, with branches throughout the Illawarra and Shoalhaven regions of NSW. It offers financial products such as home and personal loans, credit cards, insurance, foreign money services and financial planning services and share trading.

The credit union has won a number of awards, including Money magazine’s Personal Lender of the Year in 2012 and 2013.

Horizon Credit Union Mortgage Breaker Loan

The Horizon Credit Union Mortgage Breaker Home Loan is a variable rate loan that gives customers the ability to use a 100 per cent offset account to reduce the interest paid on the loan. Customers are charged an ongoing fee but can make unrestricted additional repayments and use a redraw facility. The loan can also be split and repayments can be made weekly, fortnightly or monthly.

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Horizon Credit Union Fixed Rate Loan

The Horizon Credit Union Fixed Rate Loan gives customers the option of a fixed interest rate for a period of one, two, three or five years. Customers can make up to $30,000 in additional repayments each year without penalty and have the option to redraw on these payments. The loan reverts to a standard variable loan at the end of the fixed-rate period and lets customers borrow up to 95 per cent of the property value.

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Horizon Credit Union Platinum Loan

The Horizon Credit Union Platinum Loan is a variable rate loan that requires a minimum loan amount of $150,000 and is combined with a transaction account and credit card. Customers are charged an annual fee, but are given a discounted interest rate and can borrow up to 95 per cent of the value of their property. There is also an offset account, as well as the ability to make additional repayments and redraw on these payments.

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Horizon Credit Union Handyloan Secured Line of Credit

The Horizon Credit Union Handyloan Secured Line of Credit is a variable loan that gives homeowners access to the equity they own in their property as a line of credit loan. It can be used to fund renovations, property purchases or other expenses, with a maximum loan term of 30 years. Repayments can be made weekly, fortnightly and monthly and additional repayments are allowed.

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Horizon Credit Union Special Home Loan

The Horizon Credit Union Special Value Plus Home Loan is a variable rate loan available to new loans that offers a discounted interest rate. As with other Horizon variable loans, customers can borrow up to 95 per cent of the property value and have the ability to make additional repayments. There is also a redraw facility and the option to split the loan between fixed and variable rates.

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Horizon Credit Union Classic Home Loan

The Horizon Credit Union Classic Home Loan is a variable loan with a minimum loan amount of $80,000 that allows customers to borrow up to 95 per cent of the property value. Additional repayments are permitted and the loan also includes the option for an offset account and redraw facility.

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Horizon Credit Union KickStart First Home Buyer Loan

The Horizon Credit Union Kick Start First Home Buyer Loan is a variable rate loan for first homebuyers and allows customers to borrow up to 95 per cent of the value of their property. Additional repayments, redraws and an offset account are also included and the loan offers homebuyers a slightly discounted variable interest rate.

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Horizon Credit Union Basic Variable Loan

The Horizon Credit Union Basic Home Loan is a variable rate loan that allows customers to borrow up to 95 per cent of the property value for up to 30 years. The minimum loan term is five years and the loan charges a small monthly fee. Repayments can be made weekly, fortnightly or monthly and customers have the ability to make unrestricted additional repayments. There is also a redraw facility for those wanting to access these payments and an offset account to let customers use their savings to reduce the interest paid on the loan.

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Home Loans from Horizon Credit Union

Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Advertised Rate4.19%Variable
Comparison Rate4.36%
Monthly Repayment$1246over 30 years
Details
Advertised Rate4.29%Variable
Comparison Rate4.45%
Monthly Repayment$1259over 30 years
Details
Advertised Rate4.44%Variable
Comparison Rate4.60%
Monthly Repayment$1282over 30 years
Details
Advertised Rate4.19%Fixed - 3 years
Comparison Rate4.63%
Monthly Repayment$1286over 30 years
Details
Advertised Rate4.19%Fixed - 2 years
Comparison Rate4.67%
Monthly Repayment$1292over 30 years
Details
Advertised Rate3.99%Fixed - 1 year
Comparison Rate4.69%
Monthly Repayment$1295over 30 years
Details
Advertised Rate3.99%Fixed - 1 year
Comparison Rate4.69%
Monthly Repayment$1295over 30 years
Details
Advertised Rate4.54%Variable
Comparison Rate4.70%
Monthly Repayment$1297over 30 years
Details
Advertised Rate4.09%Fixed - 1 year
Comparison Rate4.70%
Monthly Repayment$1297over 30 years
Details
Advertised Rate4.59%Fixed - 5 years
Comparison Rate4.72%
Monthly Repayment$1300over 30 years
Details
Advertised Rate4.29%Fixed - 3 years
Comparison Rate4.73%
Monthly Repayment$1301over 30 years
Details
Advertised Rate4.59%Variable
Comparison Rate4.74%
Monthly Repayment$1303over 30 years
Details
Advertised Rate4.29%Fixed - 2 years
Comparison Rate4.77%
Monthly Repayment$1307over 30 years
Details
Advertised Rate4.09%Fixed - 1 year
Comparison Rate4.79%
Monthly Repayment$1310over 30 years
Details
Advertised Rate4.69%Variable
Comparison Rate4.82%
Monthly Repayment$1315over 30 years
Details
Advertised Rate4.69%Fixed - 5 years
Comparison Rate4.82%
Monthly Repayment$1315over 30 years
Details
Advertised Rate4.69%Variable
Comparison Rate4.84%
Monthly Repayment$1318over 30 years
Details
Advertised Rate4.69%Variable
Comparison Rate4.91%
Monthly Repayment$1328over 30 years
Details
Advertised Rate4.79%Variable
Comparison Rate4.92%
Monthly Repayment$1330over 30 years
Details
Advertised Rate4.79%Variable
Comparison Rate5.00%
Monthly Repayment$1342over 30 years
Details
Advertised Rate5.09%Variable
Comparison Rate5.10%
Monthly Repayment$1357over 30 years
Details
Advertised Rate5.19%Variable
Comparison Rate5.20%
Monthly Repayment$1373over 30 years
Details
Advertised Rate5.09%Variable
Comparison Rate5.21%
Monthly Repayment$1374over 30 years
Details
Pros
  • Suitable for small deposits.
  • Discounted rates offered.
  • Package and specialised loans available.
  • Flexible repayment features.
Cons
  • High standard variable rate.
  • Interest-only options are limited.
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Customer Service
Home loan customers can contact Horizon Credit Union in person at a local branch or using an online enquiry form. Customers can also phone the bank on a general customer line or email. Customer service centre (phone) Online banking Email Branch
Applying and Eligibility
Horizon Credit Union gives customers a number of methods when applying for a home loan. There is an online application form on the Horizon website and customers can apply, or make a home loan enquiry via phone or email. Customers can also apply in person at a local branch. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:
  • Proof of personal identification.
  • Proof of employment.
  • Proof of income, assets and earnings.
  • Details of current debts, loans and liabilities.
  • Personal insurance documents.
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