Line of Credit
- Repayments may decrease if RBA cuts rates
- No redraw and no offset
- Not available for first home buyer
- Annual fee charged
- Repayments may increase if RBA raises rates
Interest rate structure
$10k - $100m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Allows split interest
Investors, Line of Credit, Owner Occupiers
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
Queensland Country Credit Union (QCCU) is a Queensland-based credit union that was founded in 1971 as the Isa Mine Employees’ Credit Union Limited. Since then, QCCU has grown and expanded its membership, merging with other Queensland-based credit unions such as QCCU Australia and Queenslanders Credit Union.
Like other credit unions, QCCU isn’t beholden to any shareholders, which means profits can be passed back to members through competitive interest rates.
QCCU aims to offer an alternative to the big four banks and provides a range of everyday banking products, insurance, credit cards and home loans.
QCCU Home Loan Calculator
Interested in a QCCU home loan? RateCity has a suite of calculators that can show you what your repayments would be and how QCCU 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.
Additional payments to your home loan above the minimum monthly instalments, which can help to reduce the loan’s term and remaining payable interest.
Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.
However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.
Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.
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.
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 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.
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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.