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Home Loans

Low Deposit Home Loans

Don’t quite have your deposit ready?

Great news! If you’re a first home buyerpart of the South Australian Education Community, SA Power Networks you may be eligible for our range of Low Deposit Home Loans.

What does this mean?

You could potentially borrow up to 95% of the value of your chosen home, or up to 90% of the value if you're buying or building an investment property. This could save you years of trying to put together a bigger deposit.

Plus, receive a low rate as part of our range of Low Deposit Home Loans.

Eligibility

To be eligible for one of our Low Deposit Home Loans you must be:

  • Borrowing at least $150,000.
  • Part of the South Australian Education Community, SA Power Networks or a first home buyer.

First Home Buyers Grant

First home buyers might also be eligible for our $5,000 First Home Buyers Grant*, which is available whether you’re buying a home to live in, or as an investment!

Lenders Mortgage Insurance

It’s important to keep in my mind that you will need to pay Lenders Mortgage Insurance (LMI) if you take out any of our Low Deposit Home Loans. LMI is a fee when your Loan to Value Ratio (LVR) is over 80%, and it's usually added to your total loan amount, so you don't have to pay it out of pocket.

Benefits

Quick and easy application

Our paperless application makes it simple for you to apply online, over the phone or in person.

No loan application fees

Flexible home loan repayment options

Weekly, fortnightly or monthly

Start your application now

For a home loan that makes you feel at home – get in touch with us today.

Apply online

Start your home loan application online anytime, anywhere.

Details you’ll need to have handy:

  • Your income and living expense details
  • Information about what you own and what you owe.

We’ll call you back within 48 hours to talk you through the next steps.

Apply online now

Connect with a Mobile Lender

Don’t have time to visit us?

No problem. We can come to you!

Simply book an appointment with one of our Mobile Lending Managers at a time and place that suits you.

Make an appointment

Call or visit us

We're here to help.

Call us on (08) 8202 7777

  • Monday to Friday 8am – 8pm (ACST)
  • Saturdays 8am – 2pm (ACST)

Visit us at 400 King William Street, Adelaide

  • Monday to Friday 8am – 5.30pm (ACST)
  • Saturdays 10am – 2pm (ACST) 
  • Sunday – Closed

Low Deposit Home Loans

Product Name LVR Interest Rate Comparison Rate
Investment Low Deposit Variable Home Loan Package^1 0.00% - 90.00% 2.99% pa 3.41% pa
Owner Occupied Low Deposit Variable Home Loan Package^1 0.00% - 95.00% 2.99% pa 3.41% pa
Owner Occupied 1 Year Fixed Home Loan Package^2 0.00% - 95.00% 2.59% pa 3.64% pa
Owner Occupied 2 Year Fixed Home Loan Package^2 0.00% - 95.00% 2.59% pa 3.58% pa
Owner Occupied 3 Year Fixed Home Loan Package^2 0.00% - 95.00% 2.59% pa 3.53% pa

Want to do more with your money?

Credit Union SA can provide you with unlimited access to free Property Reports from CoreLogic RP Data to assist you in your search for the perfect property.

Get protection for your home buildings and your contents by combining buildings and contents covers on the one policy.

Our Special Offer Owner Occupied Home Loans give you low interest rates with lots of flexibility, so you can pay off your home sooner.

Calculators that will help you work out exactly what you'll need to do to achieve your financial goals – from borrowing money, making repayments to loan comparisons.

1Requires minimum new borrowings of $150,000 or more where the loan to value ratio is 95% or less for owner-occupied loans and 90% or less for investment loans. This offer is available only to first home buyers, Education Community members and Workplace Banking Benefits members. Bridging loans are not eligible for this offer. This offer is limited and may be withdrawn at any time. 

2Requires minimum new borrowings of $150,000 or more where the loan to value ratio is 95% or less for owner-occupied loans. This offer is available only to first home buyers, Education Community members and Workplace Banking Benefits members. Bridging, construction and investment loans are not eligible for this offer. This offer is limited and may be withdrawn at any time. 

^Conditions and annual package fee of $395 applies.

*Lending criteria, fees and conditions apply. Offer is current as at 27/07/2021 and is subject to change. Minimum loan $250,000 to purchase or build a first home with a loan to value ratio over 80%. All loans that are eligible for the First Home Buyers Grant will be subject to pay Lenders’ Mortgage Insurance. To be eligible, applicants must not have previously owned residential property in Australia. Available to natural persons only (i.e. not a trustee or a company).

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. 

Download a copy of our Home Loan Interest Rates, Fees and Charges.