Resi currently has a single fixed rate home loan option for borrowers wanting to lock in a rate: the Flexi Options Home Loan (Fixed). Resi's fixed rate loan is far from basic though, as there are variations for owner occupiers and investors depending on the type of repayments they want to make (principal and interest or interest-only), the length of term they want to lock their rate in for (up to five years) and the size of the deposit they have. The interest rate on offer will vary depending on all of the above, but the minimum loan starts from $250,000 with a maximum of $2,000,000. An optional offset account ($10/month) is available with all iterations of the loan, as is the ability for customers to make extra repayments (free up to $20,000/year), though there are a few one-off fees to consider which you can read more about in the linked reviews in the table below.
Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
---|---|---|---|---|---|
6.64% p.a. |
7.51% p.a. |
|
$695 |
||
6.54% p.a. |
7.10% p.a. |
|
$695 |
||
6.44% p.a. |
6.31% p.a. |
|
$695 |
||
6.74% p.a. |
7.45% p.a. |
|
$695 |
||
6.84% p.a. |
7.62% p.a. |
|
$695 |
||
6.74% p.a. |
6.76% p.a. |
|
$695 |
||
6.74% p.a. |
7.45% p.a. |
|
$695 |
||
6.64% p.a. |
6.55% p.a. |
|
$695 |
Resi's range of variable rate home loan offerings is even wider, as owner occupiers and borrowers are able to choose between the Essential Options loan or the Flexi Options Home Loan. Depending on which option and which rate tier you choose, you can borrow up to 95% of the property’s value, with a minimum loan amount starting from $10,000. Both loans come with quite competitive rates as well as some great flexible features, including unlimited fee-free extra repayments, a free redraw facility and an offset account (though this is optional for $10/month with the Flexi Options Home Loan). Keep an eye on the fees when you choose a Resi variable rate home loan though, as some there are a number of one-off costs involved.
Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
---|---|---|---|---|---|
6.79% p.a. |
6.84% p.a. |
|
$539 |
||
6.69% p.a. |
6.74% p.a. |
|
$539 |
||
6.79% p.a. |
6.84% p.a. |
|
$539 |
||
6.69% p.a. |
6.74% p.a. |
|
$539 |
||
6.89% p.a. |
6.92% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.09% p.a. |
7.12% p.a. |
$0.00 |
$396 |
||
7.84% p.a. |
7.87% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.85% p.a. |
7.88% p.a. |
$0.00 |
$396 |
||
7.80% p.a. |
7.86% p.a. |
|
$695 |
||
6.18% p.a. |
6.23% p.a. |
|
$695 |
||
7.25% p.a. |
7.31% p.a. |
|
$695 |
||
6.14% p.a. |
6.19% p.a. |
|
$695 |
||
7.67% p.a. |
7.73% p.a. |
|
$695 |
||
6.99% p.a. |
7.04% p.a. |
|
$539 |
||
6.89% p.a. |
6.94% p.a. |
|
$539 |
||
6.99% p.a. |
7.04% p.a. |
|
$539 |
||
6.89% p.a. |
6.94% p.a. |
|
$539 |
||
7.09% p.a. |
7.12% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.14% p.a. |
7.17% p.a. |
$0.00 |
$396 |
||
7.59% p.a. |
7.62% p.a. |
$0.00 |
$396 |
||
7.49% p.a. |
7.52% p.a. |
$0.00 |
$396 |
||
7.87% p.a. |
7.93% p.a. |
|
$695 |
||
6.59% p.a. |
6.64% p.a. |
|
$695 |
||
6.69% p.a. |
6.74% p.a. |
|
$695 |
||
6.44% p.a. |
6.49% p.a. |
|
$695 |
||
7.67% p.a. |
7.73% p.a. |
|
$695 |
||
6.34% p.a. |
6.39% p.a. |
|
$695 |
Finding it difficult to save up a deposit for your home? With loan-to-value ratios (LVRs) available up to 95% (meaning just a 5% deposit is needed), one of Resi's variable or fixed options could be the low deposit home loan you've been looking for. Just remember that different LVR tiers have different interest rates, and that lenders often require lenders mortgage insurance for borrowers with deposits under 20%.
You can make fee-free extra repayments on any fixed or variable Resi home loan offer in order to pay off your loan balance faster. Plus, if you find yourself needing those funds back later on, you can also make redraws on both of Resi's variable rate home loans. Bear in mind that some fixed rate offers have a cap on additional payments though, and paying off the entire loan early may incur penalties.
Another useful feature that comes attached (or at least as an option extra) with many of Resi's mortgage offers is an offset account. In short, an offset account is a place where borrowers can stash their extra cash or savings, but the added benefit is that any cash stored in the account reduces the outstanding loan balance on which interest is charged!
Mozo users have rated Resi home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
32 Reviews
I urge anyone considering using Resi, please find another as they charge fees without consulting you even though they say there would be no fees. When the matter is raised they are quite offensive and refuse to resolve the matter.
Read full reviewI urge anyone considering using Resi, please find another as they charge fees without consulting you even though they say there would be no fees. When the matter is raised they are quite offensive and refuse to resolve the matter.
Spoke to a Broker Margaret on goldcoast , Provided Heaps of information , went away to find out home loan details of products , never heard from again, sent email asking for my original documents to be sent back ,no reply no docs ,cost me money to obtain new docs.
Read full reviewSpoke to a Broker Margaret on goldcoast , Provided Heaps of information , went away to find out home loan details of products , never heard from again, sent email asking for my original documents to be sent back ,no reply no docs ,cost me money to obtain new docs.
Being a single mum they gave me my dream, my home loan which others wouldn't do and I have been with them for forever now.
Read full reviewBeing a single mum they gave me my dream, my home loan which others wouldn't do and I have been with them for forever now.
While Resi was great to get a loan through in the beginning, now that I am selling they are dragging out the release of the title, so much so that it may look like I might lose the sale. It has been 8 months of he said she said, between the conveyancer and Resi Home loans. Not good enough.
Read full reviewWhile Resi was great to get a loan through in the beginning, now that I am selling they are dragging out the release of the title, so much so that it may look like I might lose the sale. It has been 8 months of he said she said, between the conveyancer and Resi Home loans. Not good enough.
Resi backed us up when no one else would to live the Australian dream!
Read full reviewResi backed us up when no one else would to live the Australian dream!
To set yourself up with a Resi home loan, you can get in contact with a Resi home loan specialist either online through their website or over the phone. Keep in mind, the application process will go much more smoothly if you have a few of the following details handy, including: