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Resimac home loans

Resimac
Resimac's overall rating for home loans

(as rated by the Mozo community)

4.5 / 10

based on 30 reviews

As a home loans specialist and competitive alternative to traditional banks, Resimac has been providing a fresh take on mortgages since 1985. With customer satisfaction levels over 97%, it’s hard to see where you’d go wrong with a home loan from Resimac.

Rates and fees verified as correct at 12 July, 2020. Other information correct at the time of writing.

What home loans do Resimac offer?

Fixed Rate Home Loans Fixed Rate Home Loans

Opt for a fixed rate offer from Resimac and you’ll have heaps of different rate tiers to choose from, depending on your LVR and loan amount. You can also choose between two different loans, the main differences being that while the MoniPower offer comes with a monthly service fee, the use of an offset account and free extra repayments up to $20,000, the Ultra Plus offer has a yearly service fee attached, no offset account and unlimited free extra repayments. Both offers also come with a settlement fee and will allow you to borrow up to 95% of the property’s value.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

5.01% p.a.

4.28% p.a.

$299.00 yearly

$330

5.21% p.a.

4.48% p.a.

$299.00 yearly

$330

4.81% p.a.

3.99% p.a.

$299.00 yearly

$330

4.86% p.a.

4.13% p.a.

$299.00 yearly

$330

5.06% p.a.

4.33% p.a.

$299.00 yearly

$330

4.66% p.a.

3.81% p.a.

$299.00 yearly

$330

4.51% p.a.

3.73% p.a.

$299.00 yearly

$330

4.56% p.a.

3.87% p.a.

$299.00 yearly

$330

4.76% p.a.

4.07% p.a.

$299.00 yearly

$330

4.36% p.a.

3.54% p.a.

$299.00 yearly

$330


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Variable Rate Home Loans Variable Rate Home Loans

Like the fixed rate alternative, there are plenty of variable rate tiers and two different variable rate loans on offer from Resimac. Both offers come with unlimited free extra repayments, a free redraw facility and a settlement fee. You can also borrow up to 95% of the property’s value on both loans. The MoniPower offer also includes an offset account and a monthly service fee, while the Ultra Plus offer has no offset account and a yearly service fee.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.68% p.a.

3.70% p.a.

$0.00

$330

3.88% p.a.

3.90% p.a.

$0.00

$330

3.36% p.a.

3.38% p.a.

$0.00

$330

3.53% p.a.

3.55% p.a.

$0.00

$330

3.73% p.a.

3.75% p.a.

$0.00

$330

3.16% p.a.

3.18% p.a.

$0.00

$330

3.11% p.a.

3.13% p.a.

$0.00

$330

3.28% p.a.

3.30% p.a.

$0.00

$330

3.48% p.a.

3.50% p.a.

$0.00

$330

2.91% p.a.

2.93% p.a.

$0.00

$330

3.58% p.a.

3.91% p.a.

$299.00 yearly

$330

3.78% p.a.

4.10% p.a.

$299.00 yearly

$330

3.26% p.a.

3.59% p.a.

$299.00 yearly

$330

3.43% p.a.

3.76% p.a.

$299.00 yearly

$330

3.63% p.a.

3.96% p.a.

$299.00 yearly

$330

3.06% p.a.

3.40% p.a.

$299.00 yearly

$330

3.01% p.a.

3.35% p.a.

$299.00 yearly

$330

3.18% p.a.

3.51% p.a.

$299.00 yearly

$330

3.38% p.a.

3.71% p.a.

$299.00 yearly

$330

2.81% p.a.

3.15% p.a.

$299.00 yearly

$330


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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Resimac home loan features in a glance

Unlimited free extra repaymentsUnlimited free extra repayments

With the exception of one of the fixed rate offers, you can make unlimited free extra repayments to pay off your Resimac mortgage quicker.

Redraw facilityRedraw facility

If you find you need some of those extra funds back you have access to a fee free redraw facility. But keep in mind, a minimum redraw amount applies to some offers.

Split rate optionSplit rate option

Not sure whether fixed or variable rates are for you? Get the best of both worlds by splitting your Resimac mortgage between the two.

How are Resimac home loans rated?

Find out how Resimac performs in areas like trust, customer service and convenience by reading through our customer review section.

Resimac home loans

Overall 4.5

Price

Features

Customer service

Convenience

Trust

30 Reviews

Recent Resimac home loan reviews Recent Resimac home loan reviews

Resimac

Resimac Prime review

Overall rating   0 / 10

Do not consider Resimac as your lender

Resimac is a law unto themselves. I will certainly be looking to switch my investment loan. The Royal Commission has been a waste of money. None of the banks have changed, they are still treating the customers like fools. When the RBA changes the...

Full review

Resimac is a law unto themselves. I will certainly be looking to switch my investment loan. The Royal Commission has been a waste of money. None of the banks have changed, they are still treating the customers like fools. When the RBA changes the interest rates, Resimac may or may not pass on the interest rate reduction. But if they do pass on the drop in interest rate it takes 4 weeks to pass on the rate reduction. BUT when the rate does up, it goes up over night. When i asked Resimac to explain why it takes 4 weeks to reduce the interest rate, they said they have to set their computers. They must use different computers to create the interest rates increase because it goes up over night. Gee they must think the general public is stupid. Who with half a brain would use that as a reason for not passing on the interest rate.

    Price   0 / 10

    Features   1 / 10

    Customer service   0 / 10

    Convenience   2 / 10

    Trust   2 / 10

Less

Theresa, Queensland, reviewed 19 days ago

Resimac

Resimac Prime review

Overall rating   1 / 10

Ignored and forgotten.

Resimac took over Homeloans.com.au, and since then only Resimac loans have been subject to changes, those of us that came before are basically ignored.

Full review

Resimac took over Homeloans.com.au, and since then only Resimac loans have been subject to changes, those of us that came before are basically ignored.

    Price   2 / 10

    Features   4 / 10

    Customer service   1 / 10

    Convenience   0 / 10

    Trust   1 / 10

Less

Clive, Queensland, reviewed about 2 months ago

Resimac

Resimac Prime review

Overall rating   7 / 10

Competitive interest rate.

Very good interest rate and a 100% offset, this was the best option available when we looked. Their online system could be easier to use but gets the job done. I haven't had to use it too much.

Full review

Very good interest rate and a 100% offset, this was the best option available when we looked. Their online system could be easier to use but gets the job done. I haven't had to use it too much.

    Price   9 / 10

    Features   8 / 10

    Customer service   5 / 10

    Convenience   4 / 10

    Trust   6 / 10

Less

Chris, Western Australia, reviewed 3 months ago

Resimac

Resimac Prime review

Overall rating   0 / 10

Manipulative and Distrustful

Resimac has not passed on rate cuts and has indicated they have incurred increased overheads - that's not my problem - however, the main reason for the poor rating is the interest offset account that they managed to completely stuff up. It was...

Full review

Resimac has not passed on rate cuts and has indicated they have incurred increased overheads - that's not my problem - however, the main reason for the poor rating is the interest offset account that they managed to completely stuff up. It was inconvenient to pay at Westpac, but the broker and the company stated by having the offset account, I could pay at the local post office. I started getting overdue 'phone calls, pointed out that there was a credit in the account which exceeded fortnightly payments and after several weeks went by, started getting the threats. They were repeatedly advised the fortnightly payments were in the account they set up. In the end, a trip to Westpac and had to withdraw the funds and pay into the "correct" account. I thought the problem was solved until I was sent a letter stating they had released the funds from the offset account several months later, and because of that, they realized there were duplicate credits on the loan account. So without consultation, they increased the loan by the "mistakenly released off set account", and hence I was seen as being in default. Did they ask me to pay additional funds to the loan account to cover their error? No. Have they been upfront about what they are doing? No. I had never heard of Resimac until I met a broker. Worst decision to go from Commonwealth to these rouges, and just for a 1% rate drop. Because of their error, I am seen as a liability. Current best rate they are giving me as a platinum client is 4.54%. Reserve bank rates are at 0.25%, major banks passing on cuts, most around 2%. Just don't believe this company's actions (because they represent investment companies etc - mine is Colonial) is acceptable banking practice. But when I signed up, I didn't know they were a non-bank. 7 years of lousy service both from their broker representative and the company it's self. Stay away.

    Price   0 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Paul, New South Wales, reviewed 3 months ago

Resimac

Resimac Home Loan review

Overall rating   7 / 10

Good product but was difficult to secure.

Recently refinanced to resimac. Must admit, the process of obtaining finance approval was horrendous (staff member quit and my file went unattended for several weeks which almost cost me securing the house) but once the home loan was approved, it...

Full review

Recently refinanced to resimac. Must admit, the process of obtaining finance approval was horrendous (staff member quit and my file went unattended for several weeks which almost cost me securing the house) but once the home loan was approved, it has been smooth so far.

    Price   8 / 10

    Features   5 / 10

    Customer service   9 / 10

    Convenience   6 / 10

    Trust   3 / 10

Less

Ross, Queensland, reviewed 3 months ago

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

You can enquire online, and then chat to Homeloans staff about applying for a mortgage. When you start your application, it’s useful to have a few things on hand including:

  • Your contact details
  • Financial details including your salary and proof of income
  • Details of any other loans or credit cards
  • Details of any assets such as savings or property
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