EquitiSmart Line of Credit Investment Loan
Great Rate 1 year fixed Home Loan
specialBorrow up to 110% of the property value by asking your family to guarantee the home loan by using their property as security on your mortgage
Fixed - 1 year
- No ongoing fees
- Repayments may decrease if RBA cuts rates
- No redraw and no offset
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$20k - $1m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Allows split interest
Investors, Line of Credit
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
In 1955 a group of staff from one of Australia’s largest banks had a vision of creating a co-operative Loans Society and so the Gateway Credit Union was formed. What started with a briefcase and a receipt book has grown to a membership in excess of 30,000. Gateway Bank now offers its members a broad range of award winning financial products and services all specially intended to help their members prosper. Gateway Bank’s mission is to provide its members with high value, low cost financial services and loans.
The bank has won a number of awards, including the Money magazine award in 2015 for the ‘Cheapest Home Loan Package – Non-Bank’.
Gateway Bank Home Loan Calculator
Interested in a Gateway Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Gateway Bank compares to its competitors. Simply plug in your borrowing amount below.
A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.
If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.
This competition is currently for home loans only.
You may still be able to save money by checking the interest rates, fees, and charges on your personal loan, car loan or credit card – compare your options at RateCity.
But keep your eyes open – we may add options for car loans, personal loans, credit cards and more in the future.
Equity is the value of your property, less any outstanding debt against it. For example, if you have a $500,000 property and a $300,000 mortgage against the property, then you have $200,000 equity. This is the portion of the property that you actually own.
This type of loan is a flexible mortgage that allows you to draw on funds when you need them, similar to a credit card.
Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks.
That includes people with bad credit, as well as borrowers who are self-employed, in casual employment or are new to Australia.
Specialist lenders take a much more flexible approach to assessing mortgage applications than mainstream banks.
Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.
You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.
Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.