4.5 / 10

based on 30 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. With customer satisfaction levels over 97%, it’s hard to see where you’d go wrong with a home loan from Resimac.

What home loans do Resimac offer?

Rates and fees verified as correct at 27 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

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 ‡

2.99% p.a.

3.01% p.a.

$0.00

$330

2.89% p.a.

2.91% p.a.

$0.00

$330

2.79% p.a.

2.81% p.a.

$0.00

$330

3.16% p.a.

3.18% p.a.

$0.00

$330

3.36% p.a.

3.38% p.a.

$0.00

$330

2.69% p.a.

2.71% p.a.

$0.00

$330

2.79% p.a.

3.13% p.a.

$299.00 yearly

$330

2.69% p.a.

3.03% p.a.

$299.00 yearly

$330

2.39% p.a.

2.76% 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

2.29% p.a.

2.66% p.a.

$299.00 yearly

$330

3.56% p.a.

3.58% p.a.

$0.00

$330

3.76% p.a.

3.78% p.a.

$0.00

$330

3.24% p.a.

3.26% p.a.

$0.00

$330

3.14% p.a.

3.16% p.a.

$0.00

$330

3.04% p.a.

3.06% p.a.

$0.00

$330

3.41% p.a.

3.43% p.a.

$0.00

$330

3.61% p.a.

3.63% p.a.

$0.00

$330

2.94% p.a.

2.96% p.a.

$0.00

$330

3.04% p.a.

3.38% p.a.

$299.00 yearly

$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

2.94% p.a.

3.28% p.a.

$299.00 yearly

$330

2.64% p.a.

2.98% 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

2.54% p.a.

2.89% p.a.

$299.00 yearly

$330

*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

Free icon

Unlimited 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.

Free icon

Redraw 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.

Rate icon

Split 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?

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
4.5/10
Price
Features
Customer service
Convenience
Trust
30 reviews

Recent Resimac home loan reviews

Resimac Prime review
Overall 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 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.

Read 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 4 months ago
Resimac Prime review
Overall 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.

Read 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 5 months ago
Resimac Prime review
Overall 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.

Read 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 6 months ago
Resimac Prime review
Overall 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 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.

Read 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 7 months ago
Resimac Home Loan review
Overall 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 has been smooth so far.

Read 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 7 months ago

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

Home loan quick links