Bare essentials first home owners offer
variable rate (P&I) home loan
Variable interest rate
Comparison rate*
what's included.
Everyday.
It comes with an Everyday transaction1 account to make your repayments, without any monthly account keeping fees.
The choice is yours.
We give you the option to make additional repayments.
Redraw.
Easy access to your cash with our redraw facility.
Flexibility.
The flexibility to choose from weekly, fortnightly or monthly payment options.
calculate your repayments.
Enter amount $150k to under $800k to get started
loan amount
loan type
repayments
years
Variable interest rate
Comparison rate*
#Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. Illawarra Credit Union may not provide loans with the details indicated in the calculator. The specific details of your loan will be provided to you in your loan contract. It is advised that you consult your financial adviser before taking out a loan. Fees & charges may apply.
apply for a loan online
are you?
- At least 18 years old
- An Australian citizen or permanent resident.
Do you have?
- About 20 minutes
- Documents to prove your identity (POI)
- Your membership number if you already bank with us.
select get started.
After you apply, one of our lenders will be in touch within 1 business day.
get startedThings you need to know
Let us help you get into your home sooner, an exclusive offer for our Bare Essentials home loan that's open only to eligible first home owners grant recipients.
Fees applicable to this product include:
- Application fee: waived (usually $600)
- Valuation fee:waived
- Legal fees: waived
- Other fees may apply
- We’re also waiving the $6 monthly account keeping fee on the Everyday account while the Bare Essentials home loan is held (other fees and charges may apply).
Refer to the Credit Fees and Charges brochure and Fees, Charges and Transaction Limits brochure for more information.
To reduce or cancel your credit limit, click here.
The Bare essentials first home owners offer. Amazing rate.
| Variable Rate | 2.75% p.a. |
| Comparison Rate | 2.80% p.a. |
For new owner occupied home loans (P&I), 95% LVR.
Who’s eligible?
To be eligible for the offer, you and your partner (if you are applying as a couple) must be eligible for the First Home Buyers Assistance Scheme and or the First Home Owners Grant.
- You need to be an Australian citizen, at least 18 years old, and buying your first home
- You’ll only need a 5% deposit saved for the property you wish to buy (with LMI approval or parental guarantee); and
- You must also move into your property within 12 months and live there for at least six continuous months.
For full conditions for your state, visit www.firsthome.gov.au
Plus, $2,000 cash back in your pocket!
If you qualify for the offer and apply and settle by 30 June 2020, we’ll give you $2,000 cashback.2
There’s no reason to go anywhere else. We’ll be there through every step of the process, a unbelievable offer with a personalised experience like no other.
The application process.
Check your eligibility
The first step in applying for this amazing offer is to check your eligibility. Unsure what you need to do? Give us a call on 13 22 49 and one of our home loan specialists will help you through every step.
Apply for the first home owners loan
Eligible for the grant? Start the process now for this sensational rate & cashback offer. You must apply be approved and settle by 30 June 2020.
Find your first home.
Just started your search or found your dream home, let us help you in taking the hard work out of the loan process. Our specialist lenders will support you every step of the way. Start now, select the ‘Apply now’ button or book an appointment today on 13 22 49.
Move in.
Getting a home loan with Illawarra Credit Union means were here to support you from the beginning to the end. And look forward to continually helping you reach your goals.
important notes
1. All loan repayments must be made from the Everyday account. The $6 monthly account keeping fee is waived while the home loan is held.
*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure.Variable rate shown is for new owner-occupied loans $150,000 and over.
2Cashback Offer
$2,000 Cashback available for first home owners with an eligible Illawarra Credit Union home loan, approved between 17th February 2020 and 30th June 2020, with the loan settled by 30th June 2020.
Eligible Illawarra Credit Union Home Loan only includes the First Home Owners Bare Essentials home loan (Owner Occupied, P&I) with application amounts $150k and over.
Must qualify for the First Home Buyers Assistance Scheme or First Home Owner Grant (New Home). See http://www.firsthome.gov.au/ for more information regarding state eligibility.
Eligibility Criteria:
To be eligible for the cashback offer, customers must be approved for the First Home Owners Bare Essentials home loan and settled by the 30th June 2020. Home loan repayments must be direct debited from an Illawarra Credit Union transaction account. Read the Account and Access Facility Conditions of Use document to determine if the product is right for you. Fees and charges may apply. The cashback will be paid into an Illawarra Credit Union transaction account where the loan repayments are made from, within 60 days of settlement. The loan must not be in arrears at the time the cashback is provided. The transaction account must be kept open during this time. Only one (1) cashback will be paid regardless of the number of customers, properties or applications involved. If there is more than one (1) borrower, one (1) payment will be made to them jointly.
Eligibility criteria, T&C’s, fees and charges apply for loan products for more information refer to illawarracu.com.au/legal-information/important-documents-info.
Variable rate shown is for owner occupied loans $150,000 and over.*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure.
get in touch
Not sure what's the best fit for your needs? No worries. Get in touch with one of our banking specialists today.