As the name suggests, variable rates aren’t fixed and neither is your minimum repayment.
When the rate drops, you pay a little less. When it goes up, you pay a little more.
The rate isn’t the only flexible ingredient, though. Our variable rate home loans also offer many convenient features to help you pay off your loan sooner.
Discounted Variable Rate Home Loan
Our Discounted Variable Rate Home Loan is a great choice if you’re a budget-conscious borrower on the lookout for something simple, but effective, that won’t charge you extra if you want to repay it faster (and save heaps in the process).
Quick and easy application *
Our paperless application makes it simple for you to apply online, over the phone or in person.
No loan application, monthly or annual fees
Check our fees
Unlimited fee-free additional repayments
In fact, repay the whole loan as fast as you like, without penalty.
Redraw those extra repayments
Any time, and at no cost.
Discounted Variable Rate Home Loans
|Discounted Variable Rate Home Loan - Principal & Interest - Owner Occupied☉︎§︎
|Discounted Variable Rate Home Loan - Interest Only - Owner Occupied#§︎
|Discounted Variable Rate Home Loan - Principal & Interest - Investment§︎
|Discounted Variable Rate Home Loan - Interest Only - Investment#§︎
Discounted Variable Rate Home Loans fees
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For a home loan that makes you feel at home – get in touch with us today.
FREQUENTLY ASKED QUESTIONSView all Loans FAQs
Refinancing is when you move your home loan from one lender to another. You might do this to get a better interest rate, better loan features, better service… any reason at all really! Be careful though, as there may be some Help me refinance my Home Loan.
Struggling to save up enough of a deposit to buy your first home or first investment property? Then our Family Guarantee could be just the thing to get you into a place you can call your own. Our Family Guarantee enables first home buyers with limited savings to enter the property market sooner*.
Here's how it works – If your parents or other family members have equity in their home, investment property or have a Term Deposit with Credit Union SA, you can use that equity or investment to guarantee a portion of your loan.
Which family members can provide a Family Guarantee?
Credit Union SA will consider the provision of guarantees by other immediate family members where a guarantee from the above-mentioned family members would not be appropriate.
When can a Family Guarantee be used?
Guarantees from family members can only be provided to assist first home buyers/investors to:
- purchase a new property;
- purchase an established property;
- build a new home.
Where a borrower is entitled to a government grant, the entitlement will not be affected by the provision of a Family Guarantee. Family Guarantees will not usually be accepted by the Credit Union where offered to support borrowings for a second/subsequent property or for any other purpose.Download our Family Guarantee Guide
*Subject to responsible lending criteria.
Buy your first home
Buying your first home can be both exciting and overwhelming. After all, it’s your first step onto the property ladder and quite possibly your first major investment.
It’s also an expensive and time-consuming process. So even though this is your first house, you should try to ensure that you’ll be happy in it for as long as possible. We have created this guide to help you do exactly that.
2022 RateCity Gold AwardsWe are pleased to announce that we were awarded the Best Investor Variable Home Loan for the Discounted Variable Rate Home Loans. The RateCity Gold awards celebrate lenders that offer consistently competitive products to Australian consumers.
The credit union difference
At Credit Union SA, we offer all the same services as a bank but with one very important difference - our highest priorities are our members and our community.
GUIDES AND NEWS
You can contact us by calling us, visiting us, making an appointment, or using Secure Mail.
We’re here to answer any questions you might have – make sure you have your Access Code ready!
400 King William Street, Adelaide has self-service options available to make your life easier.
Mobile Lending Managers
Our Mobile Lending Managers can help our members by phone or email, with video calls now available.
INFORMATION YOU SHOULD KNOW
☉︎Available for Family Home Guarantee (FHG) and First Home Guarantee (FHBG) participants who meet the scheme eligibility requirements of Housing Australia Scheme Loans. Interest Only only available for construction, after your construction period your loan will revert to principal and interest.
§︎Conditions, fees and lending criteria apply and are available on request. Comparison rates are based on a $150,000 secured loan for 25 years. WARNING: These comparison rates are 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.
#Interest only interest rates apply when you request to only repay interest charges on your loan. Interest only is only available where the loan to value ratio is 80% or less. For construction loans, you will only be charged interest only rates if, after your constructions period, your repayments will not be principal and interest repayments.
Download a copy of our Home Loan Interest Rates, Fees and Charges.
The target market for this product can be found within the product’s Target Market Determination (TMD), available at creditunionsa.com.au/legal/terms-and-conditions/target-market-determination