Resimac Home Loan – loan
Flexible home loans from Resimac, a major Australian non-bank lender. Suitable for borrowers with good or impaired credit histories.
Applying does not commit you to a contract.
Properties of this loan
- Prime home loans from around 5.50% p.a.
- Specialist loans for impaired credit borrowers
- Terms up to 30 years
- LVR up to 95% for prime products
- Self-employed solutions available
- Offset account available on some products
Resimac Home Loan
Resimac is one of Australia's longest-established non-bank mortgage lenders, active since the 1980s. They offer a range of home loans including prime products for standard borrowers, specialist products for those with previous credit issues, and solutions for self-employed borrowers who may have difficulty documenting income.
Rates on prime products are competitive with major banks, typically starting around 5.5%-6.5% p.a. depending on LVR and loan structure. Specialist and impaired credit products carry higher rates, typically in the 7%-9% range, but provide access to home ownership for borrowers who cannot qualify elsewhere.
Loan terms run up to 30 years. LVR can go up to 95% on prime products (subject to lenders mortgage insurance). Resimac distributes its loans through mortgage brokers rather than direct branches. If you work with a broker, they can compare Resimac against other non-bank and bank lenders.
✓ Pros
- Available to borrowers with impaired credit history
- Competitive prime rates from 5.50% p.a.
- LVR up to 95% for prime borrowers
- Specialist products for self-employed
- Up to 30-year loan term
✗ Cons
- Available through mortgage brokers only, no direct branches
- Specialist rates are significantly higher than prime
- LMI required above 80% LVR
- Less well-known than major banks
Loan requirements
- ✓ Australian resident
- ✓ At least 18 years old
- ✓ Stable income and ability to service loan
- ✓ Minimum property value and loan size requirements apply
- ✓ Available through mortgage brokers
- ✓ LMI required if LVR above 80%
Frequently asked questions
3-5 business days
The minimum loan amount at Resimac Home Loan is $50,000.