Home Loans

Home loans are a great way to put your own roof over your head without needing to pay out the purchase price in one lump sum. These loans come in many different forms, from standard mortgages and balloon payments to adjustable-rate mortgages and more. You just need to have enough income to cover any down payment and other costs associated with obtaining a loan and leave the rest to us. We offer the lowest rate for private home finance all across Australia.

Bridging Home Loan

Bad Credit Home Loan

Construction Finance

Low Doc

No Doc

Line of Credit Loan

Self Employed Finance

There are various types of loans offered to homeowners with complete accessibility. But you only need the one that best suits your needs. The majority of lenders in Australia offer several kinds of home loans, each different in its way. Our specialists always try to understand your financial situation

There are various types of loans offered to homeowners with complete accessibility. But the best will always be the one that best suits your needs. Most lenders in Australia offer several kinds of home loans, each different in its way. However certain home loans come with peculiarities that appeal to the borrowers. With that said it becomes quite a challenge for the borrowers to choose between many appealing loans when most are fulfilling their needs. This is where Basic Finance comes in. We will guide you on the best option to consider based on your financial situation. We have a large pool of private lenders who can offer home loans at flexible terms.

What is a Home Loan?

A home loan is a form of financing used to purchase real estate or finance the construction of a new home. The lender generally provides the funds for the down payment and closing costs, while you make monthly payments to the lender until the loan is paid off. Let’s also understand the different terms associated with home loans.

Rate of interest (per calendar year)

The interest rate is always according to the lender’s terms and conditions.

Comparison rate (per calendar year)

A comparison interest rate is one figure on a loan, including the cost of the loan and most fees.

Repayment Method Monthly

It means that you will be returning the loan monthly.

Application Cost

One-time fee before establishing the loan, also known as the establishment, up-front, or set-up cost.

In-continuing charges

Fees are applicable monthly or annually to manage the loan, also known as fees for service or administration.

  • A loan term
  • Loans length (.i.e. how long it took)
  • Features of a loan
  • Offset account
  • Redraw facility
  • Line of Credit facility
  • Fees (.i.e. to draw cash)

How many types of Home loans are there?

Home loans can be divided into two main categories: residential and commercial.

Residential home loans

These are used by residents who want to purchase their first property or those who want to expand their current home to increase its value. These types of loans are often referred to as owner-occupier loans, because only the owner of the property may borrow from a lender.

Commercial home loans

These are usually secured by large commercial properties such as shopping centres, factories, and warehouses. These types of loans are often referred to as tenant finance and may be used by businesses that need extra capital to expand or buy new premises.

How do Home loans work in Australia?

The term “home loan” refers to a mortgage or other type of loan obtained by a borrower, generally in Australia and overseas. In Australia, there are two main types of home loans:

Fixed interest rate home loans

These loans have regular repayments over a fixed time (for example, 20 years). The interest paid on these loans is often lower than variable-rate home loans because they cannot change in line with market interest rates.

Variable-rate home loans

These loans have irregular repayments over one or more periods (for example, monthly for 20 years). The interest paid on these loans can be higher than fixed-rate home loans because they can rise above the fixed rate if market rates go up (or fall below it if market rates go down).

Typically, lenders rely on collateral as the primary means of protection for mortgages. However, if the lender is particularly concerned about the property, they may use it as additional protection.

In general, the property should meet the following criteria for a quick home loan:

  • Be located in an ideal location
  • Be in good condition
  • Have a minimum size of 60 square meters for a single unit
  • Have a high resale value and be easily sellable
  • Properties such as offices, residential properties, factories, warehouses, and retail stores may qualify for commercial use without the need for documentation

Already made up your mind? Awesome.

We will get you a commercial loan with the lowest rates in Australia. If you are looking for a refinance, we can help. Contact us and we will make the process very simple and easy for you!


With flexible options up funding is possible in 24 hours


Common sense credit approval process. Fast and fuss free funding on your terms


No hidden fees and or charges. Clear & upfront pricing

Salient Features of Mortgage and home loans

Home-Loans offer various features as follows:

  • Offset account
  • Redraw facility
  • Line of Credit Facility

The aforesaid are mostly the ways to put additional funds into the loan to decrease the interest that you are paying.

Suppose you are thinking about a home loan. Then know that there are many kinds of loans, including variable interest rate loans (standard and fundamental), fixed interest rate loans, and the Line of Credit (equity credit).

To ease up home loans, we have discussed the detailed descriptions for each type of home loan available.

Short-term home loans are an affordable option for homeowners. Plus, the process is smooth and hassle-free.

The term of your loan is the amount of time you’ll have to pay back the loan. It also affects the number of mortgage repayments and interest payments.

A loan with a shorter term (3-5 years) may offer higher monthly repayments. However, the good thing about that is you’ll be paying lower interest.

A longer-term loan (20-25 years) implies lower repayments but you’ll pay more interest.

A lower interest rate can save thousands of dollars over time and in the long run.

Short Term Mortgages

Short-term mortgages refer to loans for property purchases with a repayment period of fewer than five years. These types of mortgages are considered unsecured and typically have higher interest rates. No documentation (No Doc) short-term mortgages are a specific type that does not require proof of income or financial records. While they may be more expensive, they allow for quicker equity building and full ownership of the property. No Doc short-term mortgages are an option for those without proof of income or financial records.

A low-doc short-term mortgage does not require proof of income. Tax returns, financial statements, and other documentation are not necessary. However, some lenders may require a statement of assets and liabilities and a declaration of the applicant’s ability to repay the loan. In some cases, the applicant may be required to provide a statement of income verification to ensure they have the funds to make repayments.

Eligibility Criteria for Home Loan

Banks and non-conforming lenders typically require proof of income, such as bank statements, tax returns, financial documents, and letters from accountants when applying for a loan. However, when applying for a short-term home loan, these documents are not necessary. If you have concerns about debt on your credit card or other negative marks on your credit report, these will not be considered by the lender when reviewing your application for a no-doc short-term mortgage loan.

To be eligible for a no-doc short-term mortgage, the loan must fall under the National Consumer Credit Protection (NCCP) Act and not be privately regulated. The loan must also meet one of the following requirements:

  1. The purpose of the loan must be clear and it should be used for business purposes. The loan must also be secured by a property.
  2. The property cannot be for investment purposes, except for residential properties. The loan must be for a business or trust with an ABN.

If the loan application does not meet these requirements, it will be rejected by all lenders who offer no-doc short-term loans. The NCCP Act covers all loans for personal use and typically applies to owner-occupied and residential properties.

It is illegal for a lender to violate the law by not confirming the borrower’s income. In such cases, the borrower will need to submit an investment declaration to demonstrate the loan’s status as NCCP regulated.

Is it possible to obtain a private no-doc short-term loan?

No-doc short-term mortgages are funded by hundreds of private lenders. These lenders, including non-bank institutions, provide mortgages to institutional investors. The lender you choose will determine the fees associated with the loan, as private lenders typically do not pay commissions. However, private lenders may have higher interest rates and require advanced valuation fees, with a pre-determined repayment plan that involves selling the property and refinancing to a prime lender. These loans are typically short-term, with a minimum duration of 2-3 months.

The benefit of private short-term mortgages is that they can be funded quickly, within 48 hours, and do not require a credit check. They can also be used as a second loan or a caveat when incorporated into a bank loan. Additionally, it is important to note that these types of loans usually require an extra $40,000 and it is not necessary to refinance the entire loan for better interest rates. However, it is advisable to use private no-doc short-term mortgages as a last resort and to seek advice from a financial and legal professional before signing the loan agreement.

Exit plan for short-term loans with no documentation

As the name of the loan suggests, short-term loans are lent for short durations. In most cases, the borrower will have either 6- months or 3 years for repayments and the interest rate will also likely increase.

Case Study: Home loan to purchase a property

One of our clients in Adelaide was interested in a property located in a nice neighbourhood. It was also close to the beach, which is always a plus for buyers. The home had been remodelled and updated over time, but it still had some cosmetic issues that needed to be addressed before it could be sold.

The seller was asking $325,000 for the home. He was willing to take a $25,000 reduction in price to help cover closing costs and other expenses associated with selling his home.

The problem was the buyer did not have enough to go on with. We connected the client with a private lender from our pool. Our private lender offered him quick finance at flexible terms. The client happily agreed to the offer. We took care of the documentation and the money was in the client’s account within 2 days. The client bought the house right away. He cleared the loan within 12 months. He still owns the home.

Frequently Asked Questions (FAQs)

What are Bridging Loans?

If you’re buying a new home and are trying to sell your current property, it is possible to consider Bridging loans. A Bridging loan is a time loan that grants the borrower up to 6 months to sell an existing property and assist you in the challenging period as you make the transition to your new residence.

What are Construction Loans?

Construction loans are specific loans to help you meet the needs of regular payments during the construction process. The primary distinction between a construction loan and a traditional mortgage is it permits you to draw on the loan’s balance. The conventional home loan offers a lump amount to the borrower.

What is an Introductory Loan?

It is generally the loan to attract potential lenders, also called the honeymoon rate, which typically lasts about 12 months before the interest rate rises. The rates are fixed or limited, most return to standard rates at the end of their honeymoon.

Positive: Usually it has the most affordable rates available to the borrower. Suppose, repayment happens at the speed of the initial offer, and the principal declines rapidly. The lenders will offer an offset account for the loans.

Downsides: The repayment amount increases after the introductory period.

Can I get a Home loan as a Pensioner with any Disability and age limitation?

Although it can be challenging to get a home loan when you are a pensioner because they are considered risky by lenders, it’s possible to qualify for a mortgage despite the hurdles.If you’re in a pension plan or seeking a home loan at a higher age, it restricts the borrowing amount due to an increased risk identified by the lender in the loan application process. The home loans that are available to pensioners could include a reverse line of credit, mortgage, and investment loans.

What are Non-Conforming Loans?

A few people with bad credit scores might struggle to get traditional home loans since they are considered an increased risk for the lender. Non-conforming loans permit individuals to obtain loans as lenders can use other evidence to prove the borrower’s ability to repay the loan. A higher deposit to show you can repay the loan requires a high-interest rate to mitigate the risk toward the lender.

Can I qualify for a home loan if I am self-employed?

Self-employed home loans can be a great way to make your dreams of homeownership come true. Whether you are just starting up a business or are an experienced entrepreneur, these mortgages provide special financing options specifically tailored to those who work for themselves

If you’re self-employed, then getting a mortgage for your home may be a bit more complicated from banks. But there is no need to worry as we have got your back. We are a private lending company serving Australians since 2001. We provide bad credit home loans with no doc and no credit checks.

How does the Home Loan application process work?

The process is complex with banks where you have to fill in long application forms with tons of required documentation. With private lenders like us, the process is straightforward. We provide loans with low doc, no doc, and no credit checks. Fill out our quick form and one of our representatives will be in touch immediately. You can also call us directly at 0439462664

What are the advantages of mortgage insurance?

Mortgage protection insurance (MPI) protects the property owner from losing the ability to settle the mortgage if the worst occurs. In addition, we discuss the advantages of MPI to customers.

Is it mandatory to pay stamp duty?

Yes, stamp duty is an additional tax levied against the sale of a property and land transfers. However, it could impact your budget for home purchases. To find out how it’s determined, contact us.

Can I get a no-doc short-term loan, less or without income proof?

Yes! you can become eligible for no-doc short-term mortgages even if you don’t meet the income verification requirements mandatory for conventional home loans.

Additionally, few lenders can help, but the policies might differ. However, contacting one of our loan specialists for more information about no-doc short-term mortgages as an alternative is recommended.

What are the interest rates of no doc short-term mortgages?

Typically, the interest rate for a no-doc short-term mortgage is based on the type of lender and the borrower’s credit score and collateral. These loans are considered a “rate for risk” product, meaning that the more financially risky the borrower appears to the lender, the higher the interest rate will be. No-doc short-term mortgages typically have interest rates between 6% and 10% per year, based on the percentage of the loan and the borrower’s credit score. However, in some cases, such as for immediate caveat loans, the interest rate can be as high as 76% per year. These types of loans are generally not in the best interest of the borrower and should only be considered in exceptional circumstances.

Is it possible to obtain a no-doc short-term home loan?

Yes. While your interest will be a bit higher, you’ll still be able to access all the features that come with the regular mortgage, including:

  • Fixed interest rate
  • Variable rates
  • Professional discounts package
  • Line of credit
  • Redraw facility
  • Offset accounts for 100%
  • Salary credit

What exactly is asset lending?

Asset Lending is referred to as asset loans as the lender depends on the property’s worth which is more significant than the loan.

The lenders don’t look at your income or other indicators that could determine your loan approval but at the property.

The private loans with no documentation are actual asset lending loans. However, second-tier lenders use some credit analysis when they approve your loan.

What are business or investment reasons considered not regulated?

  • The purchase of shares
  • Starting your own business
  • The purchase of commercial investment
  • Refinancing the loan on a margin

Are these loans regulated for investment?

Generally, the loan is intended for investment purposes; it’s not subject to the NCCP act. However, it may not be the case if the loan is used to purchase and refinance a residential investment loan.

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