Coastline Credit Union Option Home Loan


The Coastline Credit Union Option Home Loan is a simple variable rate home loan that gives you access to discounted savings account transaction fees and gives you the freedom to choose from weekly, fortnightly or monthly repayment options.

While the Coastline Credit Union Option Home Loan doesn’t have a 100 percent offset facility or the ability to pay interest only, the redraw facility is unlimited as long as you meet the minimum withdrawal amount.

For borrowers looking to make the most out of both fixed and variable interest rates, this loan allows you to split the loan and enjoy a little more predictability over your repayment amounts.

With the Coastline Credit Union Option Home Loan you have the choice of taking loan repayment insurance which can cover your loan repayments if you’re unable to work, become ill or pass away. Loan repayment insurance is paid monthly in addition to the ongoing monthly fee of the loan.

While there is no official packaging feature, you do have the option of combining your loan with an Access account and saving on transaction and account fees.

For borrowers looking for future flexibility, this Coastline Credit Union loan lets you access the equity you’ve built up in your bricks and mortar to either renovate or invest into an additional property.

Borrowers can take up to 90 percent of the purchase price, however anything over 80 percent may require you to pay lenders mortgage insurance. 

Who is the Coastline Credit Union Option Home Loan good for?

Borrowers looking for a fuss-free home loan with a variable rate and simple features might consider the The Coastline Credit Union Option Home Loan.

High upfront fees together with the lack of 100 percent offset account and no interest only repayments might affect investors and refinancers. 

First home buyers and owner-occupiers might benefit from the equity access option to fund future renovations or investments. 

Review - What RateCity says

The Coastline Credit Union Option Home Loan doesn’t have as many features as other loans on the market but does cater to borrowers looking for a simple home loan with manageable features.

The lack of 100 percent account, no interest only payments and high upfront fees may make this loan less appealing to refinancers and investors.

Features like the flexible repayment schedule, loan repayment insurance and the option to use the existing home equity for renovations or investment make this loan more suitable to first home buyers and owner occupiers.

For borrowers looking to bundle a basic transaction account and save further on account fees, the Access account may be a solid yet simple option.


Coastline Credit Union has a handful of branches across the mid-north coast of NSW, so borrowers looking for face-to-face customer support might be limited in their options. 

Coastline Credit Union Option Home Loan Options

Follow the below link for more information about the Coastline Credit Union Option Home Loan options.

1 - 2 of 2
Advertised rate
Comparison rate*
Monthly repayment
Go To Site

More details


More details

Variable Rates from


Advertised rate


Comparison rate
  • Extra repayments allowed.
  • Flexible repayment options.
  • Option to split the loan.
  • No 100 percent offset account.
  • No interest-only option.
  • Ongoing monthly fees.

Provide proof of income.

Provide a list of assets and liabilities.

Must meet the lender’s serviceability requirements.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Investors
  • Refinancers
  • Estimated upfront fees: $805.00
  • Discharge fees: $200
  • Ongoing fees: $8 monthly

In addition to the high upfront fees, there is an ongoing monthly loan fee and a small discharge fee.

If you opt for loan repayment insurance, an additional monthly fee will be added the loan.

The variable interest rate is moderately-high but you do have the option to save on account fees when the loan is combined other accounts.

You can make unlimited additional repayments and there is no fee to redraw, but there is a minimum withdrawal amount.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Coastline Credit Union

The Coastline Credit Union is owned by its members which means that it’s profits are distributed back to you.

It is based in NSW with limited branch access, however it offers members ATM access around the country.

Coastline Credit Union offers home loan products, credit cards, savings and every day banking accounts and financial advice. 

Compare your product with the big 4 banks, or add more products to compare
As seen on