based on 36 Resimac banking product reviews as rated by Mozo community

Resimac home loans

As a home loans specialist and competitive alternative to traditional banks, Resimac has been providing a fresh take on mortgages since 1985. The non-bank lender boasts over 50,000 customers and caters to both owner occupiers and investors in search of a home loan, so read on below for more information about Resimac's offers as well as customer reviews.

Also check out details about Resimac's win in the 2021 Mozo Experts Choice Home Loan Awards.

What home loans do Resimac offer?

Rates and fees verified as correct at 20 October, 2021. Other information correct at the time of writing. Advertiser disclosure.

Variable Rate Home Loans

Resimac has simplified its mortgage offerings in recent years, with owner occupier and investor borrowers now able to choose between two variable rate home loans: the Prime or Prime Flex. Both offers are available with principal and interest as well as interest-only repayment options and a number of loan-to-value ratio (LVR) tiers, though the minimum loan amount on the Prime home loan is $50,000 compared to $150,000 with the Prime Flex home loan. Features such as competitive interest rates, an offset account, a free online redraw facility and the option of making free extra repayments are available with both loans, though there are a number of one-off and ongoing fees to consider depending on the loan you choose. Check out the linked reviews in the table below for more details.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

2.64% p.a.

2.66% p.a.

$0.00

$330

2.74% p.a.

2.76% p.a.

$0.00

$330

3.09% p.a.

3.11% p.a.

$0.00

$330

3.29% p.a.

3.31% p.a.

$0.00

$330

2.44% p.a.

2.46% p.a.

$0.00

$330

2.54% p.a.

2.56% p.a.

$0.00

$330

2.54% p.a.

2.89% p.a.

$299.00 yearly

$330

2.64% p.a.

2.98% p.a.

$299.00 yearly

$330

3.06% p.a.

3.41% p.a.

$299.00 yearly

$330

3.26% p.a.

3.61% p.a.

$299.00 yearly

$330

2.14% p.a.

2.51% p.a.

$299.00 yearly

$330

2.24% p.a.

2.61% p.a.

$299.00 yearly

$330

3.49% p.a.

3.51% p.a.

$0.00

$330

3.69% p.a.

3.71% p.a.

$0.00

$330

2.99% p.a.

3.01% p.a.

$0.00

$330

2.89% p.a.

2.91% p.a.

$0.00

$330

3.34% p.a.

3.36% p.a.

$0.00

$330

3.54% p.a.

3.56% p.a.

$0.00

$330

2.79% p.a.

2.81% p.a.

$0.00

$330

2.69% p.a.

2.71% p.a.

$0.00

$330

3.46% p.a.

3.79% p.a.

$299.00 yearly

$330

3.66% p.a.

3.99% p.a.

$299.00 yearly

$330

2.79% p.a.

3.13% p.a.

$299.00 yearly

$330

2.89% p.a.

3.23% p.a.

$299.00 yearly

$330

3.31% p.a.

3.64% p.a.

$299.00 yearly

$330

3.51% p.a.

3.84% p.a.

$299.00 yearly

$330

2.39% p.a.

2.74% p.a.

$299.00 yearly

$330

2.49% p.a.

2.84% p.a.

$299.00 yearly

$330

Resimac home loan features in a glance

Image of coins

Free extra repayments and redraws

Both the Flex and Flex Prime home loan products from Resimac give borrowers the chance to pay off their mortgages faster with the  unlimited extra repayments feature. There's also the safeguard of knowing that these additional repayments can be tapped into down the track - if needs be - with the use of the online redraw facility.

Image of coins

Borrow up to 95% of the property's value 

Whether you're looking to purchase a home or refinance an existing loan, Resimac has options available on both of its variable loan products for owner occupiers and investors to borrow up to 95% of the value of the property. There are also options with sharper interest rates for borrowers who have larger deposits or more established equity. 

Image of coins

Options for PAYG and self employed borrowers

Resimac has also made a name for itself as a lender who can cater for a range of borrowers, including PAYG or self employed applicants who may have trouble seeking finance with other lenders. 

How are Resimac home loans rated?

Mozo users have rated Resimac home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Resimac home loans
Overall
Price
Features
Customer service
Convenience
Trust

36 Reviews

Recent Resimac home loan reviews

Resimac Prime Flex
Overall 2/10
Formal Loan Approval has an expiry date

I'm not feeling very confidence in Resimac lender. Contract of Sale was signed and "Formal Approval" was granted Feb 2021 by Resimac in writing. Settlement was delay by Vendor for 8 months. Broker communicated with Resimac and inform them of the delay and was told - all was in order in regards to documents and there has been no changes to my financial situation. 22 hours until settlement and I was told, Resimac needs to re-accessed the loan documents again, basically I have had to reapply for the loan process and it will take at least 3 weeks. Vendor asked for penalty interest 12% on purchased priced. Just wish they had told me the formal approval loan will expired at 6 months. Not 22 hours to settlement and then tell me.

Read full review

I'm not feeling very confidence in Resimac lender. Contract of Sale was signed and "Formal Approval" was granted Feb 2021 by Resimac in writing. Settlement was delay by Vendor for 8 months. Broker communicated with Resimac and inform them of the delay and was told - all was in order in regards to documents and there has been no changes to my financial situation. 22 hours until settlement and I was told, Resimac needs to re-accessed the loan documents again, basically I have had to reapply for the loan process and it will take at least 3 weeks. Vendor asked for penalty interest 12% on purchased priced. Just wish they had told me the formal approval loan will expired at 6 months. Not 22 hours to settlement and then tell me.

Trust
1/10
Less
Twee, Victoria, reviewed about 2 months ago
Resimac Home Loan
Overall 1/10
Waste your deposit, time and opportunities

If you want to loss your deposit and time, go with this lender. Personal experience happy to share it more than 40 Days of games. Lost a real opportunity and money. They don’t care about your deadlines or loss. You will end up paying double interest rate if you add up your losses. Happy to proof it and shows you documents.I am AAA Credit rating.

Read full review

If you want to loss your deposit and time, go with this lender. Personal experience happy to share it more than 40 Days of games. Lost a real opportunity and money. They don’t care about your deadlines or loss. You will end up paying double interest rate if you add up your losses. Happy to proof it and shows you documents.I am AAA Credit rating.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Adam, New South Wales, reviewed 3 months ago
Resimac Home Loan
Overall 1/10
Resimac way or the highway.

First red flag is that Resimac is an ASX listed company. As such, profits are at the forefront for its shareholders no matter what. My experience with them is as follows and you can draw your own conclusions. 1. I started my process of refinancing with Resimac in Feb of 2021. In June of 2021 I still had no clear date for a settlement although conditional approval had been granted. 2. I had funds taken from my credit card (some 2 to 3 months after my authorisation) for evaluations of properties I own to be used as security. No correspondence was received from Resimac to advise that the funds were being taken or had been taken. The bank statement of the withdrawn funds made no reference to Resimac whatsoever. 3. Resimac charged $256 for 1 of the evaluations. Later they wanted to undertake another evaluation of the same property for $800 with no certainty of securing my refinancing. 4. Any attempts at negotiations always saw Resimac dictate the terms with no flexibility. Basically it was their way or the highway. I must admit that with 100's of lenders available the highway has been productive!

Read full review

First red flag is that Resimac is an ASX listed company. As such, profits are at the forefront for its shareholders no matter what. My experience with them is as follows and you can draw your own conclusions. 1. I started my process of refinancing with Resimac in Feb of 2021. In June of 2021 I still had no clear date for a settlement although conditional approval had been granted. 2. I had funds taken from my credit card (some 2 to 3 months after my authorisation) for evaluations of properties I own to be used as security. No correspondence was received from Resimac to advise that the funds were being taken or had been taken. The bank statement of the withdrawn funds made no reference to Resimac whatsoever. 3. Resimac charged $256 for 1 of the evaluations. Later they wanted to undertake another evaluation of the same property for $800 with no certainty of securing my refinancing. 4. Any attempts at negotiations always saw Resimac dictate the terms with no flexibility. Basically it was their way or the highway. I must admit that with 100's of lenders available the highway has been productive!

Price
7/10
Features
3/10
Customer service
1/10
Trust
1/10
Less
Peter, New South Wales, reviewed 4 months ago
Resimac Home Loan
Overall 1/10
Don't go for home loan with Resimac

Don't go for home loans with them as they take more than 12 weeks for home loans but on advertise they say only 4weeks. They don't care about your loan approval dates or any extensions or even you losing a deal.

Read full review

Don't go for home loans with them as they take more than 12 weeks for home loans but on advertise they say only 4weeks. They don't care about your loan approval dates or any extensions or even you losing a deal.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Kanwal, Victoria, reviewed 5 months ago
Resimac Prime Flex
Overall 10/10
Best rates

Excellent rate. Just have to be wary that redrawing from the offset account can take a day - due to them being a securitised lender and not a deposit taking lender.

Read full review

Excellent rate. Just have to be wary that redrawing from the offset account can take a day - due to them being a securitised lender and not a deposit taking lender.

Price
10/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Martie, New South Wales, reviewed 9 months ago

What do you need to apply for a Resimac home loan?

As an online lender Resmiac's home loan application process is completely digital, which means you can start by simply heading to their website and downloading an application pack. Before you get going, it's useful to have a few bits of information on hand though, including:

  • Your contact details (as well as those of any joint applicant)
  • Financial details including your salary, expenses and proof of income
  • Details of any other loans or credit cards you may have
  • Details of any assets such as savings or property

Home loan quick links