Resimac Home Loans


Key Benefits

+ Wide range of loan options
+ Home loans available for borrowers with small deposits
+ Home loan to accommodate for various borrow types


x Branch network is limited
x Ongoing fees apply to some products

Resimac specialises in home loans for consumers and homeowners. The organisation prides itself on customer service, achieving near-perfect customer satisfaction reports.

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.

Resimac Home Loan Products Comparison



What does refinancing your home loan mean?

Refinancing is when you take out a new home loan to replace an old one. Instead of paying off your old mortgage, you will make repayments according to the terms of the new one.

When should you consider refinancing?

You should consider refinancing if you’re unhappy with your current home loan, still have a considerable amount of time left on your mortgage and are in a financial situation where you anticipate being approved and can easily recoup the costs involved.

When should you not refinance your home?

If you’re already comfortable with your current home loan, only have 5 to 10 years left on your mortgage, have a poor credit score or would struggle to cover the costs of refinancing, it might not be the appropriate time for you to refinance.

Is it easier to refinance with a current lender?

It is naturally always going to be easier to refinance with a current lender, as banks generally want to keep their current customers! There is also likely to be less administration and fees involved. However, this doesn’t necessarily mean you’re getting access to the best possible deal. So, it’s wise to work with an experienced broker who can help you shop around.

Can you remove someone’s name from a mortgage without refinancing?

While it depends on your lender, you generally don’t need to refinance to remove a name from a mortgage. You will generally just need to submit a title form and pay a fee. However, refinancing can be a convenient way to do this, if it’s something you were already considering.

Does refinancing extend loan term?

Refinancing can reduce or extend your home loan term, depending on the terms of the mortgage you switch to!

Does refinancing lower your credit score?

Refinancing may initially lower your credit score, as you’ll need to apply for a new home loan. Just like applying for a credit card, this counts as a credit enquiry that will appear on your record. However, it’s likely to improve your credit score over the long run, by making it easier to make your repayments and pay off your mortgage faster.