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Accelerate Plus Home Loan (Amounts < $1m, LVR < 65%)

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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • Extra repayments + redraw services
  • Free redraw facility
  • Repayments may decrease if RBA cuts rates
Cons:
  • Discharge fee at end of loan
  • Repayments may increase if RBA raises rates
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Fees and Features

Maximum LVR
Maximum LVR
65%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $1m
Total repayments
Total repayments
$391,200
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
10 - 40 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForInvestors
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$1039.00
Application fee
Application fee
$599
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
At Cost
Legal fee
Legal fee
$440
Ongoing fee
Ongoing fee
$15 monthly
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
65%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $1m
Total repayments
Total repayments
$391,200
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
10 - 40 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForInvestors
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$1039.00
Application fee
Application fee
$599
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
At Cost
Legal fee
Legal fee
$440
Ongoing fee
Ongoing fee
$15 monthly
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
No LMI but risk fee applies
Other Restrictions
Interest only is limited on owner-occupied properties to 50% of loan limit

Resimac is a non-bank lender that’s been operating since 1985. In 2016, the business merged with specialised Australian mortgage provider,  Homeloans.com.au.

Resimac is an ASX-listed lender that focuses on providing a broad range of home loans, an exclusive customer benefits program, and a network of over 12,000 broker partners.

Resimac doesn’t have traditional branches, but has a number of satellite sales offices nationwide. Resimac is also a Carbon Conscious lender and plants a tree for every settled home loan.

 

Resimac Home Loan Calculator  
Interested in a Resimac home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Resimac compares to its competitors. Simply plug in your borrowing amount below.

FAQs

Lender’s Mortgage Insurance (LMI) is an insurance policy, which protects your bank if you default on the loan (i.e. stop paying your loan). While the bank takes out the policy, you pay the premium. Generally you can ‘capitalise’ the premium – meaning that instead of paying it upfront in one hit, you roll it into the total amount you owe, and it becomes part of your regular mortgage repayments.

This additional cost is typically required when you have less than 20 per cent savings, or a loan with an LVR of 80 per cent or higher, and it can run into thousands of dollars. The policy is not transferrable, so if you sell and buy a new house with less than 20 per cent equity, then you’ll be required to foot the bill again, even if you borrow with the same lender.

Some lenders, such as the Commonwealth Bank, charge customers with a small deposit a Low Deposit Premium or LDP instead of LMI. The cost of the premium is included in your loan so you pay it off over time.

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