Resimac Home Loans

Resimac Home Loans

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Everything you need to know about a Resimac Home Loan

Established in 1985, Resimac has been listed on the ASX since 2001, giving its customers assurance that the company is backed by strength and security. Formerly known as Homeloans prior to a merger in 2016, Resimac is an industry award-winning non-bank lender, boasting customer satisfaction levels of over 97%. Resimac borrowers enjoy unique benefits, from flexible loan features to discounts on everyday items like groceries and fuel. This lender adheres to strict guidelines on transparency and business ethics and is proud to be Carbon Conscious, planting a tree for every home loan settled.

Key Benefits

  • Very competitive interest rates
  • Alt doc loan options available
  • Great customer service


  • Interest rates go up when you borrow more
  • Loan approval times can be lengthy
  • Some fees are high

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Resimac Home Loan Products Breakdown

Resimac Prime & Prime Flex Loans

  • Interest rate based on security
  • 100% offset available
  • Dollar to dollar refinancing available for LVR up to 95%

A loan that gives you opportunity to refinance and consolidate your debts

The Resimac Prime Loans is favourable for PAYG or Self Employed applicants who want room to move in the future- whether it be the freedom to refinance or take cash out freely. The main difference between the Prime and Prime flex variations of the loan is that with the Prime Flex, you’ll have to pay an annual fee however will receive a lower interest rate. You can borrow up to 95% of the value of your property, and you can take cash out without having to go through a credit scoring application. The only main condition for this loan is you’ve been employed for a minimum of 6 months, or 12 months in the same industry.

Resimac Prime Alt Doc Loan

  • No LMI for up to 80% of LVR
  • Maximum loan amount of $1.5 million
  • Unlimited cash out for acceptable purposes

For self-employed applicants who want flexibility in the ways they verify their income.

The Resimac Prime Alt Doc loan is tailored to suit the needs of those who are self-employed. In order to be eligible for this loan, you must have been self employed in the same business for the past 12 months. Another defining feature of this loan is that you get choice in the ways you verify your income. Your choice of income verification must be supported with verification from an account, 6 months worth of business activity statements or 3 months of business bank statements.

Resimac Prime Non-Gen 95 Loan

  • No genuine savings
  • Up to 95% LVR including LMI
  • 100% offset

A home loan that doesn’t require a large amount of savings

For people such as first homebuyers, saving up for a deposit can be a goal that feels unachievable. This is when the Resimac Prime Non-Gen 95 loan comes in. If you’re unable to produce the 5% savings needed to fund a deposit, you can pay this deposit by way of gift or through the first homeowners grant instead. A ‘gift’ may be a payment provided by someone who has a relationship to you (which must be proven by statutory declaration) and does not have to be repaid. What also sets this loan apart, is that a clear credit history is a requisite. So if you have a good credit score but you’re low on savings, this loan may be for you.

Resimac Prime 85 No LMI

  • No LMI for up to 85%
  • 100% offset available
  • Can use for debt consolidation and cash out

Avoid hefty Lenders Mortgage Insurance fees with this loan

Lenders Mortgage Insurance may sometimes cost you as much $10,000. This is money that could be invested elsewhere, such as to fund home renovations. With Resimac Prime 85 No LMI, you won’t have to worry about LMI if you’re borrowing up to 85% of the your LVR. This loan can be used for purchasing, refinancing, debt consolidation or cash out purposes. You also won’t have to worry about a poor credit history, as there is no credit scoring on applications.

Resimac Specialist Loan

  • No LMI (Risk fee may apply)
  • Rate step down available
  • Borrow up to 90% of your LVR

For those who don’t fit the mould of the conventional borrower

If you struggle to tick all the boxes when it comes to fitting mortgage insurance and banking guidelines, this specialist loan might be a good fit for you. Some of the notable features of this loan include the ability to take unlimited cash out for any worthwhile purpose, consolidate your debts and make unlimited arrears and defaults under $2000. You also have the ability to refinance this loan, and use child support or family A & B fulfils the requirements of this loan. So don’t lose hope if you’re credit impaired or you’ve exceeded your exposure with mortgage insurers, as this loan could be a viable option for you.

Resimac Specialist Alt Doc

  • No LMI (Risk fee applies)
  • Defaults under $2000 ignored
  • Choice of income verification options

A loan with greater income verification options

This loan shares many common features with the Resimac Specialist Loan. You won’t have to pay LMI, you can use it to consolidate your debts and rate stepdown is available. The main defining feature of this loan is that there are different income verification requirements. You have a choice of income verification options. Some options include Account letters or 3 months worth of business bank statements. Keep in mind that your choice of income verification may determine the terms of your home loan.

Resimac Home Loan Products Comparison


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