loans.com.au
Loans.com.au is an innovative and Australian-owned online-only lender that has been providing customers with a range of flexible home and investment loans and car loans. Being 100 per cent online means that loans.com.au has fewer overheads and can deliver lower rates and fees.
Loans.com.au has won numerous awards, including the Smart Investor Blue Ribbon Award for Best Property Investment Loan, Money magazine’s Cheapest Home Loan – non bank and the Cheapest Flexible Home Loan – non bank.
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loans.com.au home loan repayment calculator
Your estimated repayments
at interest rate 1.99 %
Total interest payable
$0
Total amount payable
$0
Pros and cons
- Loans have flexible options
- Most loans have low fees
- Loans have a fast approval process
- No branch network
- Loans have discharge fees
loans.com.au home loans rates
Product | Advertised Rate | Total estimated upfront fees | Comparison Rate* | Ongoing fee | Go to site | Company | |
|---|---|---|---|---|---|---|---|
1.99% Intro 12 months | $520 | 2.47% | $0 | | More details | ||
2.48% Variable | $520 | 2.50% | $0 | | More details | ||
1.99% Fixed - 3 years | $520 | 2.70% | $0 | | More details | ||
1.99% Intro 12 months | $520 | 2.71% | $0 | | More details | ||
1.99% Intro 12 months | $520 | 2.71% | $0 | | More details | ||
2.09% Intro 24 months | $520 | 2.71% | $0 | | More details | ||
2.73% Variable | $520 | 2.75% | $0 | | More details | ||
2.74% Variable | $300 | 2.76% | $0 weekly | | More details | ||
2.79% Variable | $520 | 2.81% | $0 | | More details | ||
2.79% Variable | $520 | 2.81% | $0 | | More details | ||
3.47% Variable | $520 | 2.96% | $0 | | More details | ||
2.29% Fixed - 2 years | $300 | 2.98% | $0 | | More details | ||
2.99% Variable | $300 | 3.01% | $0 weekly | | More details | ||
2.79% Fixed - 2 years | $300 | 3.05% | $0 | | More details | ||
2.88% Fixed - 3 years | $300 | 3.05% | $0 | | More details | ||
2.88% Fixed - 2 years | $300 | 3.06% | $0 | | More details | ||
2.88% Fixed - 1 year | $300 | 3.08% | $0 | | More details | ||
3.57% Variable | $520 | 3.08% | $0 | | More details | ||
3.67% Variable | $520 | 3.09% | $0 | | More details | ||
3.09% Variable | $300 | 3.11% | $0 weekly | | More details | ||
3.28% Fixed - 1 year | $520 | 3.11% | $0 | | More details | ||
3.28% Fixed - 2 years | $520 | 3.12% | $0 | | More details | ||
3.28% Fixed - 3 years | $520 | 3.14% | $0 | | More details | ||
2.69% Fixed - 2 years | $300 | 3.34% | $0 | | More details | ||
3.08% Fixed - 3 years | $520 | 3.37% | $0 | | More details | ||
3.77% Variable | $520 | 3.37% | $0 | | More details | ||
2.99% Fixed - 2 years | $300 | 3.38% | $0 | | More details | ||
3.08% Fixed - 2 years | $520 | 3.39% | $0 | | More details | ||
3.08% Fixed - 1 year | $520 | 3.42% | $0 | | More details | ||
3.48% Fixed - 2 years | $520 | 3.45% | $0 | | More details | ||
3.48% Fixed - 1 year | $520 | 3.45% | $0 | | More details | ||
3.48% Fixed - 3 years | $520 | 3.45% | $0 | | More details |
loans.com.au customer service
Being an online-only lender means loans.com.au customers don’t have access to a branch network. However, loans.com.au offers plenty of flexible and convenient contact options like online live chat. In addition, loan customers can contact the loans.com.au customer support line 7 days a week or can request a call back using the online enquiry form. Customers also have the option of emailing customer care directly.
✓ Customer service centre (phone)
✓ Mobile app
✓ Online banking
✓ Email
✓ Live Chat
How to apply for a loans.com.au home loan
Borrowers keen to apply for a loans.com.au home loan can do so by filling out an online application form or calling the bank’s loan hotline.
Before applying for a loans.com.au home loan, consider what you can afford to borrow and what other costs you need to include.
To apply for a loan with loans.com.au, you will need to supply the following information:
- Personal identity information.
- Proof of income and employment.
- Bank statements
- Details of your current debts, liabilities and assets
Once you have filled out the initial information, you'll be put in touch with an online lending manager to finalise your loan.
Loans.com.au home loans review
Loans.com.au is an online-only lender, known for offering competitive interest rates. A potential customer would need to be comfortable managing their mortgage online or over the phone. Options are available for borrowers looking to buy, refinance or build a property, either as a home to live in or an investment property.
The interest rates on loans.com.au home loans are generally lower for owner-occupiers than they are for investors. Generally, if you have a lower loan-to-value ratio (LVR), or choose a home loan with fewer features, (e.g. without an offset account), your interest rate may be lower. As well as variable rates, options are available to fix your rate for up to three years.
Many of loans.com.au’s home loans are available without upfront or ongoing fees, though a rate lock fee applies for fixed rate loans, and other charges may apply.
Loans.com.au home loans allow borrowers to make extra repayments, though there are limits for fixed rate loans. Redraw facilities are also available for selected loans, as is the option to split the loan between fixed and variable interest rates. An offset account is only available on selected home loans.
Learn more about loans.com.au
Who offers 40 year mortgages?
Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank.
Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.
Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.
Mortgage Calculator, Repayment Frequency
How often you wish to pay back your lender.Â
What is a specialist lender?
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.
Mortgage Calculator, Repayments
The money you pay back to your lender at regular intervals.Â
Mortgage Balance
The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.
What is breach of contract?
A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.
Interest Rate
Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.
Mortgage Calculator, Loan Amount
How much you intend to borrow.Â
How is the flexibility score calculated?
Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.
What factors does Real Time Ratings consider?
Real Time RatingsTM uses a range of information to provide personalised results:
- Your loan amount
- Your borrowing status (whether you are an owner-occupier or an investor)
- Your loan-to-value ratio (LVR)
- Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
- Product information (such as a loan’s interest rate, fees and LVR requirements)
- Market changes (such as when new loans come on to the market)
What is a construction loan?
A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.
Mortgage Calculator, Property Value
An estimate of how much your desired property is worth.Â
What is the ratings scale?
The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.
What is the average annual percentage rate?
Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.
The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.
What does going guarantor' mean?
Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.
Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.