Home Loans

Buy your dream home sooner. With our low interest rates and excellent home loan packages you can’t go wrong. For a new home loan or for refinancing an existing loan now is the time to make your dream a reality.

Choosing a home loan today is a difficult decision. There are so many home loans to choose from – but which one is right for you?

We understand that buying a new home is an important decision. That’s why we make it as easy as possible. We can provide all the information you need to make the right decision.

With an AMP Credit Union home loan you can be assured of getting a great deal as well as having the flexibility to structure your loan so that it suits you.

Our Home Loans come with some great benefits…

• Low variable interest rate
• No establishment or monthly fees
• Early repayment without penalty
• Redraw facility
• 100% offset facility
• Flexible repayment options
• Easy pre-approval within 24 hours
• Borrow up to 80%
• Overdraft available
• Interest only options available

If you want to buy an investment property then talk to us. Click here to find out how we can use the equity in your own home.

Not happy with your current lender, refinancing to AMP Credit Union could save you thousands. To find out more click here.

No Establishment or Monthly Fees

At AMP Credit Union we have NO establishment fee and NO monthly fees. That all adds up to big savings for you over the life of the loan.

Early Repayment without Penalty

Many people these days make extra repayments to try and reduce their loan as quick as possible. At AMP Credit Union we encourage you to do the same.

This will build equity in your own home, which you may be able to use to purchase an investment property or a portfolio of shares.

You can make extra repayments on any of our variable rate home loans at any time with no penalties.

Redraw Facility

Your extra or “advance” repayments can be accessed at anytime. This comes in especially handy for large purchases, renovations or holidays. You can redraw your advance payments anytime online via Internet Banking or by completing a Redraw Request Form.

100% Offset Facility

Use your savings to pay off your loan faster. With our Premium Home Loan you can take advantage of our 100% offset account, which will help you pay off your home loan sooner. This is because it reduces the interest you pay on your home loan.

Our offset savings account is called Mortgage Offset. It’s just like an everyday transaction account (with an ATM card and cheque book) but the big difference is that the balance of this account is used to reduce the balance on your home loan for interest calculations.

Flexible Repayment Options

Repayments can be made weekly, fortnightly or monthly.

You can arrange to make automatic repayments either by payroll deduction, direct debit from your savings or transaction account, Internet or telephone banking. Setting up automatic repayments saves you time and makes sure you don’t miss a payment.

You can also make extra repayments at anytime without penalty.

Easy Pre-Approval within 24 hours

To make it easier for you when you go shopping for your new home, we can give you “pre-approval” on your home loan generally within 24 hours.

This means that your home loan is approved “in principle” through AMP Credit Union. With this pre-approval, when you find a place you like, you’ll know if you can afford it.

And when you’re ready to buy, you can then submit your supporting documentation and the property’s details for formal approval of your loan.

Borrow up to 80%

With AMP Credit Union you can borrow up to 80% of the value of the property. This means you can get started with a deposit of 20%, plus enough extra to cover legal costs and stamp duty.

Overdraft available

If you’re applying for a home loan, you may as well apply for an Overdraft as well. You can do this on the same application – you do not need to supply further details.

An Overdraft is a credit limit on your Rediaccess account. This Overdraft facility is an ideal safety net for new homeowners as you are likely to have unexpected expenses.

Interest Only Options

With our Basic Home Loan you have the option of interest only repayments for first 5 years of your loan, to help minimise your outgoings.

To take advantage of the interest only option, you must have at least 25% equity in your property.

Buying an Investment Property?

With an investment property loan, we can use the equity in your own home, so you don’t have to have a saved deposit.

Most experts advise that it is best to buy an investment property BEFORE you fully pay off your home loan. This is because if you wait those additional 3 to 5 years to pay off your home loan first, property prices would have moved up substantially and you will lose the benefit of that potential capital gain.

Refinancing to AMP Credit Union can save you thousands!

If you currently have a home loan with another financial institution and a few other debts or credit cards – then talk to us about refinancing your loans into one – it could save you thousands.

We consistently have one of the best basic variable home loan rates in the market. With AMP Credit Union you enjoy the low rate of a professional package home loan but without the ongoing annual fee.

Savings can also be achieved by combining your home loan, your car loan and your credit cards and other debts to one loan. This often means that your regular repayments will halve!

Alternatively, you can choose to maintain the same level of repayments and pay off your home years earlier – saving thousands in interest.

Terms and Conditions

Lending criteria apply to all loans. Details of applicable terms and conditions, fees and charges are available on application.