Housing Loans

Home Loans

For most of us, borrowing for a home will be the biggest purchase we will ever make. Most people will spend weeks or even months making sure that they have chosen the right property to purchase or build. Unfortunately, most spend very little time on choosing the right home loan for them. That’s why at CMCU we take the opportunity to sit down with you to discuss your options before you make a decision. Unlike some lenders where you are just a number, at CMCU you are a member. We take pride and care in looking after your interests.

Housing Loans

Work out your home loan repayment on our calculator.

Variable Rate Home Loans

Variable Rate 3.49% comparison rate 3.54%*

Established Property

Before looking at buying a new (to you) home or investment property, you should get a pre-approval from CMCU. This way, you know exactly how much you can afford to borrow and the price range in which you can afford to buy. 

You can borrow up to 80% of the purchase price of the property or 95% with Lenders Mortgage Insurance for owner occupiers or 90% for investors. Lenders mortgage insurance is a once off premium that allows us to lend you more than 80% of the purchase price.

You have the choice of a Variable Interest Rate or a Fixed Interest Rate.

Account Features:

Construction Loans

CMCU can provide finance for the construction of your owner occupied dwelling or investment property.

You can borrow up to 80% of the land & construction price of the property or 95% with Lenders Mortgage Insurance for owner occupiers or 90% for investors. Lenders mortgage insurance is a once off premium that allows us to lend you more than 80% of the purchase price.

During the period of construction, your loan will be at our Standard Variable Interest rate. At the completion of the construction, you may elect to remain at the variable rate or transfer to a Fixed Rate Interest loan.

Account Features:

Land Only

If you find the right block of land but are not ready to build your dream home, you can still purchase the land with a
CMCU Land Loan.

You can borrow up to 80% of the purchase price of the property or 90% with Lenders Mortgage Insurance.

Once you ready to build your home, you can use the equity you have in the land as your deposit.

Refinancing

Whether you are unhappy with your current lender or are looking for a better rate or service, CMCU offers hassle free refinance from your current lender. Our staff will handle all the necessary documents and dealings with your current provider so you won’t have to lift a finger.

Can I get approval before I find a home? We can arrange for a conditional approval to be obtained before you go looking for that new home. Conditional approvals can be subject to a property valuation being conducted by our authorised licensed valuer.

What do I do now?

To find out more, view our current:

Loan Rates

Credit Guide

or to see if you qualify, contact one of our lenders.

What costs are there?

There are always costs involved in purchasing a new property. Our lenders will go through all the associated credit union, legal and state government costs with you. All you need to know is in which state you are purchasing, the purchase price and how much you need to borrow.
 


* Normal approval criteria apply. Conditions, fees and charges apply. Comparison Rate calculated on a secured loan of $150,000 over 25 years. A comparison rate schedule is available at all branches. WARNING: This comparison rate applies only to the example given; different terms, fees or other amounts will result in different comparison rate. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Central Murray Credit Union Limited ABN 69 087 651 812 Australian Credit Licence Number 239446.